HAMILTON, Bermuda, June 11 /PRNewswire-FirstCall/ -- Nabors Industries Ltd. today announced that effective June 15, 2009, Mr. Larry P. Heidt will assume the role of Chairman and CEO of Nabors Well Services Ltd. Mr. Heidt has been with Nabors over 17 years, initially serving as President of Nabors' North Sea operations until 1997 when he assumed the position of President of Nabors' US Lower 48 land drilling operations, Nabors Drilling USA, LP. Since 2004, Mr. Heidt has served as Special Assistant to the Chairman working on numerous strategic projects for the corporation. Prior to joining Nabors, Mr. Heidt was Executive Vice President of Noble Drilling Corporation and President and CEO of Peter Bawden Drilling which was acquired by Noble in 1988.
Nick Petronio, President of Nabors Well Services, Ltd., will continue to be responsible for all operations and operational support services, as well as the marketing function, and will report directly to Mr. Heidt. In addition, Dan Ehlert, Vice President of Finance and Administration, Frank Labrenz, Vice President of Personnel Services, and Lauri McDonald, Director of Credit, all will report directly to Mr. Heidt.
The Nabors companies own and operate approximately 534 land drilling and approximately 763 land workover and well-servicing rigs in North America. Nabors' actively marketed offshore fleet consists of; 39 platform rigs, 13 jackup units and 3 barge rigs in the United States and multiple international markets. In addition, Nabors manufactures top drives and drilling instrumentation systems and provides comprehensive oilfield hauling, engineering, civil construction, logistics and facilities maintenance, and project management services. Nabors participates in most of the significant oil, gas and geothermal markets in the world.
The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks and uncertainties, as disclosed by Nabors from time to time in its filings with the Securities and Exchange Commission. As a result of these factors, Nabors' actual results may differ materially from those indicated or implied by such forward-looking statements.
For further information, please contact Dennis A. Smith, Director of Corporate Development of Nabors Corporate Services, Inc. at 281-775-8038. To request Investor Materials, call our corporate headquarters in Hamilton, Bermuda at 441-292-1510 or via email at mark.andrews@nabors.com.
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Nabors Industries Ltd.
CONTACT: Dennis A. Smith, Director of Corporate Development of Nabors
Corporate Services, Inc., +1-281-775-8038, or Investor Materials,
+1-441-292-1510, mark.andrews@nabors.com
