Nabors Industries

Nabors Industries Limited is an American global oil and gas drilling contractor that has operated since 1972.

Nabors Industries traces its history to the early 20th century and the Guggenheim family's business interests in South America.

In 1924, the Guggenheims used the profits from the sale of their Chuquicamata copper properties to purchase the Anglo-Chilean Nitrate and Railways Company Limited, a British business.

During the presidency of Salvador Allende, Chile nationalised its nitrate industry and the Guggenheims were forced to sell the assets of Anglo-Lautaro.

[2] Through the 1970s, Anglo's chairman Peter Lawson-Johnston (the son of Barbara Josephine Guggenheim) and president Albert C. Van de Maele (the husband of Joan Guggenheim) pursued an aggressive acquisitions program which included in 1974 a 52.4 percent stake in Nabors Drilling Limited.

Also in 1981, Anglo sold Printex and entered the oil and gas exploration and production business via a partnership with the National Utilities and Industries Corporation.

During 1983 Anglo abandoned its exploration and production activities and sold two-thirds of its oil field supply equipment.

In August 1986 the company was restructured, Richard A. Stratton was appointed president, and in 1987 Eugene M. Isenberg was elected chairman.

[3] After emerging in May 1988 from Chapter 11, that November it purchased the Westburne Group, a major Canadian drilling and supply company.

On October 1, 1991, Anthony G. Petrello was hired and became Deputy Chairman, President and Chief Operating Officer of Nabors Industries.

[5] During the late 1990s, Nabors Industries continued to grow its domestic and international operations, and was added to the S&P 500 Index of the largest publicly traded companies in the United States.

[9] In October 2018, Nabors acquired PetroMar Technologies, a company that offers a pipeline of innovative products strategically positioned to address the needs of unconventional oil and gas exploration.