The supply chain disruptions that began to trickle into the oil and gas world with the emergence of Covid-19 are not ending anytime soon and in fact could get worse, according to NOV Inc.

CEO Clay Williams, as is his usual bent, offered a no-holds barred assessment of the oilfield services (OFS) industry during a wide ranging conference call Friday. He shared the fourth quarter results and offered insight into activity by NOV’s customers, a mix of OFS sector operators and exploration and production (E&P) companies. 

“Solid customer demand helped push newly placed orders above the company’s shipments out of backlog once again this quarter, as customers increased activity in response to higher energy prices,” Williams told investors. 

“Nevertheless, the emergence of...