William J. Restrepo
About William J. Restrepo
William J. Restrepo is a seasoned energy services finance executive. He served as Chief Financial Officer of Nabors Industries Ltd. beginning in 2014 and announced his retirement effective September 30, 2025, transitioning to Strategic Advisor thereafter . At NETD (Nabors Energy Transition Corp. II), he served as Chief Financial Officer through Q2 2025 and resigned effective November 12, 2025 in connection with his retirement at Nabors; the company disclosed no disagreements with management or the Board . Education: BA in Economics and MBA from Cornell University and BS in Civil Engineering from the University of Miami . Age: 65 . Performance context (at Nabors): key contributions include cutting company debt roughly in half and leading strategic moves (divestiture of Completions & Workover; acquisitions of Tesco and Parker Wellbore), demonstrating execution through 2015 and 2020 downcycles .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Pacific Drilling S.A. | Chief Financial Officer | 2011–2014 | Led global finance during deepwater growth cycle |
| Smith International | Chief Financial Officer | Until 2010 (pre-merger with Schlumberger) | Oversaw finance through sale to Schlumberger |
| Seitel Inc. | Chief Financial Officer | 2005–2009 | Turnaround and capital markets leadership |
| Schlumberger Limited | Senior financial and operational positions | 1985–2005 | Operational leadership across Continental Europe and Arabian Gulf; corporate treasury and controller roles |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Reelwell AS | Director | Current (as disclosed) | Advanced drilling technology board role |
| SANAD (Saudi Aramco Nabors Drilling Company) | Director | Prior service | Board role noted by Cornell’s Johnson College |
| C&J Energy Services | Director | 2015–2017 | Industry board experience |
| Platinum Energy Solutions | Director | 2012–2013 | Energy services governance |
Fixed Compensation
NETD is a SPAC; officers and directors (including Restrepo) did not receive cash compensation prior to a business combination.
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | None | None |
| Target Bonus (%) | None disclosed | None disclosed |
| Actual Bonus Paid ($) | None | None |
| Administrative Support Payments (company-level to Sponsor) | $15,000/month reimbursement agreement; not officer compensation | $15,000/month reimbursement agreement; not officer compensation |
Performance Compensation
No equity or cash incentive awards are disclosed for NETD officers prior to a business combination; therefore no performance metrics, targets, or payouts are reported for Restrepo.
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| — | — | — | — | — | — | — |
| Note | Officers and directors had no compensation of any kind prior to completion of the initial business combination |
Equity Ownership & Alignment
| As of Record Date | Class A Shares Beneficially Owned | Class F Shares Beneficially Owned | Approximate % of Outstanding Ordinary Shares | Notes |
|---|---|---|---|---|
| October 20, 2025 (DEF 14A dated Oct 27, 2025) | 1,000 (indirectly through his child) | — | <1% | Disclaims beneficial ownership except to extent of direct ownership and pecuniary interest |
| June 9, 2025 (DEF 14A dated Jun 16, 2025) | 1,000 (indirectly through his child) | — | <1% | Disclaims beneficial ownership except to extent of pecuniary interest |
- Sponsor/affiliate interests: The Sponsor (Nabors Energy Transition Sponsor II LLC) holds 7,475,000 Class F founder shares, managed/owned by Nabors Lux and Greens Road; Greens Road is controlled by Anthony G. Petrello and owned primarily by management including Restrepo. Executives, including Restrepo, disclaim beneficial ownership of Sponsor securities except for any pecuniary interest .
- Private Placement Warrants: Nabors Lux and certain officers/directors purchased 8,727,510 Private Placement Warrants for $8,727,510; warrants exercisable 30 days after closing of an initial business combination at $11.50 per share (aggregate disclosure; not broken down by individual) .
- Pledging/Hedging: No pledging or hedging of company stock is disclosed in the NETD proxies’ beneficial ownership sections reviewed .
Employment Terms
| Provision | Term |
|---|---|
| Severance (pre-business combination) | The company is not party to any agreements with its officers and directors that provide benefits upon termination of employment |
| Change-of-control | No officer compensation agreements or golden parachutes disclosed prior to initial business combination |
| Clawback | Not disclosed in NETD filings reviewed |
| Indemnification | NETD maintains indemnification agreements with executive officers and directors; new agreement for successor CFO in Nov 2025 is “substantially similar” to existing indemnification agreements |
| Non-compete / Non-solicit | Not disclosed in NETD filings reviewed |
| Stock Ownership Guidelines | Not disclosed in NETD filings reviewed |
Additional Context and Signals
- Resignation timing: Restrepo resigned as NETD CFO effective November 12, 2025; company stated it was due to his retirement at Nabors and not due to any disagreement with the company’s operations, policies, or practices .
- Sponsor loans and alignment levers: Nabors Lux and certain officers/directors loaned $2,787,490 of the $3,050,000 Overfunding Loans; convertible into warrants at $1.00 per warrant at Sponsor discretion (aggregate; not broken down by individual) .
- Governance and voting mechanics: Restrepo served as named proxy together with Anthony G. Petrello for the June/July 2025 shareholder meeting; standard for SPAC governance logistics .
- Founder-share concentration: Sponsor and independent directors collectively held ~35.7% of outstanding ordinary shares via Class F founder shares as of Oct 2025, while officers did not own ordinary shares directly (apart from de minimis holdings) .
Investment Implications
- Pay-for-performance alignment at NETD is minimal: As a SPAC, NETD did not pay cash or equity compensation to officers pre-business combination; no disclosed performance metrics or incentive payouts tied to NETD results—reducing near-term “pay signal” insight from this entity .
- Skin-in-the-game is de minimis at the NETD level for Restrepo (1,000 Class A via a child, <1%); alignment is primarily indirect via Sponsor/Greens Road economic interests and aggregate warrant/founder-share structures—creating potential conflicts but also incentives to complete a combination and preserve founder economics .
- Selling pressure risk appears low near term: No individual equity grants or vesting schedules are disclosed for Restrepo at NETD, and no pledging/hedging disclosures were found; aggregate private placement warrants may create event-driven trading dynamics around any business combination, but holdings are not itemized to him .
- Execution track record (Nabors): His tenure featured deleveraging and strategic portfolio actions through cycles—an indicator of conservative capital stewardship; succession was planned with Miguel Rodriguez assuming CFO roles at Nabors and NETD, mitigating operational continuity risk .
Bottom line: For NETD, Restrepo’s direct compensation and ownership signals are limited by SPAC structure; the more material alignment levers are sponsor economics and aggregate warrant/founder shares. His resignation aligns with Nabors’ planned CFO transition, not governance friction at NETD. Watch sponsor actions, warrant conversions, and any business combination outcomes for trading signals tied to alignment and potential selling pressure .