https://www.bizjournals.com/houston/news/2019/12/02/national-oilwell-varco-suspends-operations-cuts.amp.html
3 replies (most recent on top)
Take a look around and a make sure you keep your ears open. Someone knows what’s really going on?
The funny part of the article is the Keebler Elf proclaiming, "unforeseeable business". It's a rig yard in Houston, Texas. The US Driller Contractors have been buying up rig yard for decades in an effort to make their own rigs. People within the organization have been sounding this alarm for at least 15 years. You have a rig yard in Houston competing with rigs made in China or you can try to sell your "one size fits all" rig to customers who are already making their own rigs. That's a shocker you had to close this down. No one could have seen this coming.
Topic title makes no sense unless you are saying that all of NOV will cease operations by end of 2020.
The article in the link is about a layoff that started November 22 and facility that will be closed by January 21, 2020.