NOV Sees North American Oil, Gas Activity Rising, but Overseas Demand Soft
NOV Sees North American Oil, Gas Activity Rising, but Overseas Demand Soft Oilfield equipment expert NOV Inc. warned Tuesday that fourth quarter earnings would be below guidance as stronger North American activity levels were not enough to overcome a softer international market. On a consolidated basis, NOV expects to report quarterly revenue of $1.33 billion and an operating loss of $327 million. “While rising North American activity levels drove higher revenues in the U.S. for our shorter-cycle businesses, international markets and demand for capital equipment remained soft through year...
Source: naturalgasintel.com