We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
National Oilwell and GE to Offer Improved FPSO Solutions
Read MoreHide Full Article
Energy equipment maker National Oilwell Varco Inc. (NOV - Free Report) has teamed up with General Electric Company (GE - Free Report) to offer solutions for Floating Production Storage and Offloading (FPSO) vessels. This collaboration will likely lower the expenses of deepwater oilfield developments significantly.
Both companies believe that the collaboration will likely provide industry-leading topside systems with repeatable deliveries, economies of scale and standardized interfaces. This is expected to considerably trim risks related to delay in construction and hazards related to the overrun of cost for clients working with deepwater oil and gas projects.
It is anticipated that the firms will offer services together by the first half of 2017. Both players look forward to providing top class services to overcome challenges that their clients face in the offshore oil and gas industry.
Houston, TX based National Oilwell is a world leader in the design, manufacture, and sale of comprehensive systems, components, products, and equipment used in oil and gas drilling and production worldwide. It is to be noted that the company’s large installed base of rigs worldwide provides for a steady recurring revenue stream through demand for maintenance, parts and other expendable products.
However, with new competitors entering the market and reduction of capital expenditure by drilling contractors, National Oilwell Varco has seen its new equipment package pricing fall around 10% below the peak levels achieved during 2007–2008.
As a result, National Oilwell carries a Zacks Rank #3 (Hold), which implies that the stock will perform in line with the broader U.S. equity market over the next one to three months.
Some better-ranked players in the oil field machineries and equipment sector include McDermott International Inc. and Natural Gas Services Group Inc. (NGS - Free Report) . Both stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
National Oilwell and GE to Offer Improved FPSO Solutions
Energy equipment maker National Oilwell Varco Inc. (NOV - Free Report) has teamed up with General Electric Company (GE - Free Report) to offer solutions for Floating Production Storage and Offloading (FPSO) vessels. This collaboration will likely lower the expenses of deepwater oilfield developments significantly.
Both companies believe that the collaboration will likely provide industry-leading topside systems with repeatable deliveries, economies of scale and standardized interfaces. This is expected to considerably trim risks related to delay in construction and hazards related to the overrun of cost for clients working with deepwater oil and gas projects.
It is anticipated that the firms will offer services together by the first half of 2017. Both players look forward to providing top class services to overcome challenges that their clients face in the offshore oil and gas industry.
Houston, TX based National Oilwell is a world leader in the design, manufacture, and sale of comprehensive systems, components, products, and equipment used in oil and gas drilling and production worldwide. It is to be noted that the company’s large installed base of rigs worldwide provides for a steady recurring revenue stream through demand for maintenance, parts and other expendable products.
However, with new competitors entering the market and reduction of capital expenditure by drilling contractors, National Oilwell Varco has seen its new equipment package pricing fall around 10% below the peak levels achieved during 2007–2008.
NATL OILWELL VR Price
NATL OILWELL VR Price | NATL OILWELL VR Quote
As a result, National Oilwell carries a Zacks Rank #3 (Hold), which implies that the stock will perform in line with the broader U.S. equity market over the next one to three months.
Some better-ranked players in the oil field machineries and equipment sector include McDermott International Inc. and Natural Gas Services Group Inc. (NGS - Free Report) . Both stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>