HAMILTON, Bermuda, July 25, 2013 /CNW/ - Nabors Industries Ltd. (NYSE:NBR)
today announced that its Board of Directors voted to expand the Board to eight
members from the current seven and subsequently appointed John P. Kotts to
fill the newly created vacancy.
Mr. Kotts is a private investor and entrepreneur. From 1990 to 1998, he owned
and operated Cardinal Services, Inc., a leading supplier of liftboat rentals
and other production related services, including mechanical wireline services
and plug and abandonment services, to oil companies operating in the Gulf of
Mexico. After selling the company to a group led by First Reserve Corporation
in 1998, Mr. Kotts retained a significant partnership interest and continued
to be involved as a member of the Company's Board of Directors until the time
of the Company's merger with Superior Energy Services.
Through his management company, J. P. Kotts & Co., Inc., Mr. Kotts also
operates a private investment fund focused on U.S. and international trading
of securities and other financial instruments. He also invests in real estate
and private equities. Mr. Kotts is currently the owner and CEO of
Vesco/Cardinal, an oil tool rental and service company, as well as several
manufacturing companies. Mr. Kotts previously held various financial, banking
and investment banking positions in companies specializing in leveraged
buyouts, venture capital and turnaround transactions. He holds a BA in
Philosophy and an MBA in Finance from Hofstra University and completed
additional post-graduate work at McGill University in Montreal, New York
University and Harvard Business School.
Tony Petrello, Nabors' Chairman, President & CEO, commented, "We are pleased
John has agreed to serve as a Nabors director and welcome him to our Board.
His extensive entrepreneurial track record and experience in the oil and gas
industry make him an invaluable resource as the Board continues refining our
strategy for the future."
The Nabors companies own and operate approximately 472 land drilling rigs
throughout the world and approximately 544 land workover and well servicing
rigs in North America. Nabors' actively marketed offshore fleet consists of
36 platform rigs, 5 jackup units and 4 barge rigs in the United States and
multiple international markets. In addition, Nabors is one of the largest
providers of hydraulic fracturing, cementing, nitrogen and acid pressure
pumping services with approximately 800,000 hydraulic horsepower currently in
service. Nabors also 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 and gas markets
in the world.
For further information, please contact Dennis A. Smith, Director of Corporate
Development & Investor Relations, at 281-775-8038. To request investor
materials, contact Nabors' corporate headquarters in Hamilton, Bermuda at
441-292-1510 or via email at firstname.lastname@example.org.
SOURCE: Nabors Industries Ltd.
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-0- Jul/25/2013 20:06 GMT
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