Houston Chronicle Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter. In a statement released after close of market on Monday, NOV reported a $244 million loss on $2.1 billion of revenue during the third quarter. The figures were down from the $1 million
From The Houston Chronicle Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.” NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue during the second quarter. The figures translated into a $14.11 loss per share. The second quarter earnings were mixed compared
From The Houston Chronicle Job cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins. The drilling and oil well completion service company has started trimming its workforce by offering voluntary early retirement to eligible employees, the news
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