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Deepwater rigs boost National Oilwell Varco (NOV) |
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| Jun 10, 2009 06:00 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: International markets, Newsletters, Commodities, Oil, Stocks to Buy "National Oilwell Varco (NYSE: NOV), a buy in our 'Wildcatters portfolio,' will see an outsized benefit from improving conditions in the global oil market," says Elliott Gue in The Energy Strategist. "Rig technology is the crown jewel of National Oilwell's business; the unit builds key equipment used on land and offshore drilling rigs. "The unit is currently benefiting from the boom in deepwater drilling activity -- one of the only drilling markets that continue to see growth. "Equipment used on deepwater drilling rigs is far more complex and expensive than that used on land or shallow-water rigs. As a result, selling equipment into the deepwater market carries far higher profit margins for National. Continue reading Deepwater rigs boost National Oilwell Varco (NOV) Deepwater rigs boost National Oilwell Varco (NOV) originally appeared on BloggingStocks on Wed, 10 Jun 2009 13:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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