Houston-based National Oilwell Varco Inc. (NOV) is beginning to see inklings of a recovery in the global oil and gas business, and while it’s not complete, the upturn “creeps a little closer every day,” CEO Clay Williams said.
Nov
Articles from Nov
NOV Warning 1Q Revenue Below Forecast on Delays in Customer Deliveries, Construction Issues
Houston-based National Oilwell Varco Inc. (NOV) is warning that first quarter revenue will be below expectations at $1.8 billion because of issues related to “reduced progress” on new offshore rig construction and customer-delayed deliveries of drilling, well servicing and stimulation equipment.
NOV Pivoting to More Onshore Technologies to Gain U.S. Unconventional Share
The oil and gas market finally is nearing an inflection point following the brutal downturn, setting the stage for a better 2018, National Oilwell Varco Corp. (NOV) CEO Clay Williams said Tuesday.
NOV Not Calling Bottom, Moving to Capture Shale Work as Offshore Collapses
Houston-based National Oilwell Varco Inc., which provides drilling support services worldwide, sees no relief in sight for its bread-and-butter offshore business, but it is seeing potential opportunities in the U.S. onshore, management said Thursday.
NOV Lays Off 6,000 More People, Closes 200 Facilities as Revenues Decline in All Four Businesses
National Oilwell Varco Inc., which designs and manufactures equipment and components used in oil and natural gas drilling, laid off 6,000 more people in the first quarter and has closed or is in the process of closing 200 facilities worldwide, painful reductions to allow the Houston operator to “maintain its investment for the future,” CEO Clay Williams said Thursday.
NOV Lays Off 6,000 More People, Closes 200 Facilities as Revenues Decline in All Four Businesses
National Oilwell Varco Inc., which designs and manufactures equipment and components used in oil and natural gas drilling, laid off 6,000 more people in the first quarter and has closed or is in the process of closing 200 facilities worldwide, painful reductions to allow the Houston operator to “maintain its investment for the future,” CEO Clay Williams said Thursday.
NOV Equipment Orders Fall Sharply as Customers Delay Orders, Cannibalize Spare Parts
National Oilwell Varco Inc. (NOV), which provides drilling support services worldwide, is bracing for further deterioration this year as customers cannibalize equipment and delay picking up orders, with a recovery not predicted before 2017.