Oil and natural gas activity in the global offshore and on international land carried Houston-based NOV Inc. during the third quarter, as the North American onshore market retreated, CEO Clay Williams said Friday.

During a conference call to discuss quarterly results, Williams said the oilfield technology specialist improved revenues and margins on the backs of its overseas projects, which outpaced “softening” activity in North American land. 

“Following a decade of underinvestment, which saw the North American shale crowd out spending in offshore and international land drilling, we are pleased to see growing momentum in several offshore basins around the world, in addition to international land,” Williams said.

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