Texas Oil Tools makes for Schlumberger.
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Company won't last much longer , investors have been told to avoid it
You can run but you can not hide......
Reuters) - National Oilwell Varco Inc (NOV.N), the largest U.S. provider of oil drilling equipment, said on Thursday it slashed 6,000 jobs in the first quarter as weak oil prices forced its customers to cut production and exploration.
The company received no new rig orders for the second quarter in a row in the three months ended March 31, Chief Financial Officer Jose Bayardo said on a call with analysts.
Houston-based National Oilwell had 50,197 employees as of Dec. 31. Based on this number, the company cut about 12 percent of its workforce in the first quarter.
Hope I still get my bonus this year. This is not good.
Plant shut down by 4th of July.
WHAT'S HAPPENING