NABORS INDUSTRIES ANNOUNCES APPOINTMENT OF DENNIS SMITH AS PRESIDENT OF SUBSIDIARY
NABORS INDUSTRIES ANNOUNCES APPOINTMENT OF DENNIS SMITH
AS PRESIDENT OF SUBSIDIARY
HOUSTON, March 17 /PRNewswire/ -- Nabors Industries, Inc. (AMEX: NBR) today announced the appointment of Dennis Smith, as president of its subsidiary, Nabors Development Corporation. In that capacity, Smith will help direct the company's expansion into new frontier petroleum drilling and logistical services markets, including Russia.
Prior to joining Nabors, Smith held a number of senior positions with Pool Company. For the past eight years, he has headed up that company's Alaskan subsidiary, Pool Arctic Alaska, with responsibility for all its operational, marketing, technical, administrative, personnel and financial activities. From 1987 to 1991, Smith combined those responsibilities with similar ones for Pool's offshore California drilling and workover business. Smith, who is 42 years old, has worked in the oil and gas business for more than 16 years.
The appointment of Smith is consistent with Nabors' continuing emphasis on the development of its international operations. The significant movement of oil and gas exploration and production activity away from the United States has provided Nabors with an ongoing opportunity to expand its international land drilling operations.
In the past several years, Nabors has become one of the largest international drilling contractors, operating 100 land and 15 offshore rigs. Nabors is a major participant in most of the significant oil, gas and geothermal drilling markets in the world, including Alaska, the Middle East, South America, the North Sea, the Far East, Canada, the U.S. "lower 48" and the Gulf of Mexico. In addition, Nabors provides oilfield transportation and other support services in Alaska and the Middle East.
Nabors Industries' common stock is listed on the American Stock Exchange (NBR).
/CONTACT: Harris Kaplan, director, investor relations, of Nabors Industries, 713-874-0035/
(NBR) CO: Nabors Industries Inc. ST: Texas IN: OIL SU: PER KD -- NY066 -- 8790 03/17/92 12:58 EST