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In part two of this series with NOV CEO Clay Williams, Jessica Morales discussed offshore recovery plus the hardships of surviving the downturn.
View Part One: From First Days To Current Technology Shakeups
When asked about preparing NOV for recovery offshore, Williams said, “Through the downturn, since most of the activity has been more directed for shale, we have invested more in that area but importantly, we haven’t sacrificed any of our capabilities in the offshore. If anything, we have actually continued to enhance those as well.”
Williams discussed the deepwater recovery timeline. “I was hoping you would tell me. We have been waiting for four years. But, I think importantly through those four years the owners of the resource basin of the deepwater, have been focused on reducing costs, becoming more efficient, they’ve made real progress. Importantly, it’s a very big resource base that has been discovered in the deepwater. I am very optimistic that we are going to see this. Lately, we are hearing more and more from our E&P customers that they are moving closer and closer to sanctioning large projects offshore,” said Williams.
2024-01-04 - The acquisition of Aegion Coating Services will help expand Voyager’s presence in the Middle East, South America and Asia.
2023-12-27 - Williams purchase of 115 Bcf of natural gas storage capacity from Hartree Partners ties in with LNG terminals and comes as demand for natural gas has grown by 56% while gas storage capacity has increased by only 12%.
2023-12-14 - The transaction is expected to close in the first quarter of 2024.
2023-12-16 - Oklahoma-based Unit Corp. sold non-core oil and gas assets in the Texas Panhandle for cash proceeds of $50 million.
2023-12-21 - Harbour Energy reached an agreement with Wintershall Dea shareholders BASF and LetterOne to buy its upstream assets in Europe, South America, North America and Africa.