Clay C. Williams – National Oilwell Varco, Inc. Customers are putting rigs back to work at an astonishing rate “depleting production through the other 80-plus-million barrels a day of supply and another year of growing demand, the industry’s 159th, will … Continued
Clay C. Williams This downturn has been unusually grim and painful “Frankly, I’m glad 2016 is behind us. In the fourth quarter, we benefited from rising momentum in North American shale plays in particular, which we expect to accelerate. Our … Continued
National Oilwell Varco (NOV) Q3 2016 Results Clay C. Williams OPEC producing near maximum levels “The 2.2 million barrel per day decline in non-OPEC production since 2014 has been fully offset by rising OPEC production which achieved record levels this … Continued
National Oilwell Varco (NOV) CEO Clay Williams said their customers remained even more cautious as oil pulled back to $26 in February “In the second quarter of 2016, National Oilwell Varco did post revenues of $1.7 billion, down 21% from … Continued
Clay C. Williams – Chairman, President & Chief Executive Officer The internet of things is coming to the oilfield “We believe that condition-based remote monitoring of oilfield equipment and predictive data analytics will grow in importance in the next upturn … Continued
National Oilwell Varco (NOV) Clay C. Williams on Q4 2015 Results Present level of activity is insufficient to supply longer term demand “We believe the present level of activity is insufficient to supply the longer-term demand for oil. And note … Continued
We see further reductions in activity “A second major decline in oil prices from the high $50 range back into the low to mid $40 range since June has increased financial stress and led to a second round of rig … Continued
Most NA business units reporting stabilizing pricing “Generally, we still see some pricing pressures in certain products, mostly in international markets, but most North American business units are reporting that pricing is stabilizing at new lower levels as the rig … Continued
Jeremy S., an investment analyst here in Southern California, has started to contribute to Avondale’s company notes database. Below are quotes from some of the calls that Jeremy has read this week. C.H. Robinson (CHRW) CEO John Wiehoff says … Continued
Revenues only down 1% y/y “Revenues were $4.8 billion in the first quarter of 2015, down 16% sequentially, and down 1% year-over-year. ” Oil price signal rolled through our industry like thunder “Business in the first quarter of 2015 declined … Continued