http://fuelfix.com/blog/2016/01/11/worst-oil-bust-in-45-years-brings-crude-prices-below-32-a-barrel/#36696101=0
Fundamental shift in the market now. Demand will not be going ever upward. $100 /barrel oil? Not likely again for years, if ever. That was artificially high. Alternative energy sources being developed - solar and wind. Texas a national leader in both. NOV in a good cash position now but without new work, they'll burn through it fast. How low will the stock go? How many jobs have already been eliminated thru layoffs and VERP? I'd bet 20% or 12,000 jobs gone at NOV in the last year. Mine was one of them.