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NOV: Weak Demand for Pressure Pumping in North America

NOV: Weak Demand for Pressure Pumping in North America

National Oilwell Varco Inc. (NOV) COO Clay Williams said Friday the company is facing “headwinds” in North America on weaker-than-expected demand for pressure pumping and equipment.

April 29, 2013

Industry Briefs

Interior Secretary Ken Salazar has unveiled a draft secretarial order to end a long-standing conflict between the oil and natural gas industry, and potash companies, within the Secretary’s Potash Area (SPA) in Southeast New Mexico. An agreement leading up to the draft secretarial order required an “unprecedented level of cooperation” and proposes buffer zones between wells and potash mining operations that are designed to provide added protection to the resources. The draft order, published in the Federal Register, is open to a 30-day comment that began July 13. A final rule is expected this fall. The SPA contains deposits of both potash and oil and gas on more than 400,000 acres of land, most of which is managed by Interior’s Bureau of Land Management. It currently produces 75% of the potash mined in the United States and is also home to nearly 800 federal oil and gas leases. The draft order is available for review at www.blm.gov/nm.

July 16, 2012