Tony Petrello: Funding Research

Support for the community is often something a company preaches but often doesn’t have to back up in any substantial way. However, when natural disasters strike, a community can quickly learn who is there to support is and who is solely motivated by driving a profit. This unfortunate situation came to Houston Texas in 2017 when Hurricane Harvey made landfall. Harvey brought with him rivers of rain that fell from the sky so quickly that damp streets became rivers in mere hours. Residents of Houston struggled first with finding a safe place to hide from the elements as they fled their homes. Later their struggles became a little more complicated. They were set with the task of surviving and somehow returning to their feet after such a brutal experience.

Read more: Tony Petrello Helps to Launch the Neurological Research Institute at Texas Children’s Hospital

Communities were devastated and unsure where to turn however they didn’t have to look far as Nabors Industries was there ready to help in any way that they could. The initiative began with neighbors helping neighbors many employees took off from work to volunteer with recovery efforts. Additionally, the employees at Nabors Industries banned together and raised over $176,000 to aid in hurricane relief. Seeing this positive action from their employees compelled Nabors Industries to support it. They began with offering paid time off to anyone taking the time to Volunteer. Additionally, the CEO Tony Petrello was touched by the fundraising effort and matched the amount raised by the employees. The company did, however, have a more hands-on approach. Thier cafeteria typically reserved for employees was turned into a source of three meals a day for families in need.

Nabors Industries has a history of supporting the community. Their philosophy is driven by the philanthropic-minded CEO Tony Petrello. The Nabors Charitable Foundation is responsible for distributing over $3 Million in educational benefits to employees and their children. Petrello has personally started an endowment in honor of his former professor and friend, Serge Lang. The endowment began with a donation of $150,000 but has grown since. Further, Petrello developed a passion for helping children with neurological disorders. He sought out the best hospitals in the country and found one in his own backyard. In an effort to support research efforts Petrello donated $7million dollars to Texas Children’s hospital. This sizable donation was critical in the foundation of the Jan and Dan research Institute later founded by the hospital. This research center focuses on testing treatments for neurological conditions.

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