Post Tagged with: "downsizing"

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

National Oilwell Varco Posts Nearly $5.4 Billion Loss During Second Quarter

From The Houston Chronicle


Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.”

NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue …

July 30, 2019 - 6:04 am
Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

Job Cuts Expected at NOV Amid Ongoing Oil & Gas Industry Slump

From The Houston Chronicle


Job cuts are expected at Houston oilfield service company National Oilwell Varco following the implementation of a company restructuring plan created in response to an ongoing industry slump in the U.S. shale basins.

The drilling and …

July 25, 2019 - 6:03 am
Source: Petrobras

Petrobras Cutting Houston Jobs after Forming Gulf Joint Venture

From Houston Chronicle

Brazilian state oil company Petrobras will terminate more than 50 Houston jobs next year after selling much of its Gulf of Mexico assets into a new joint venture.

Petrobras, which has struggled financially amid a nationwide corruption …

December 12, 2018 - 1:08 pm