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home / news releases / AKRYY - Baker Hughes Akastor JV Could Threaten National Oilwell Varco

AKRYY - Baker Hughes Akastor JV Could Threaten National Oilwell Varco

Aker Solutions ASA ADR
  • BKR and Akastor have agreed to merge their offshore drilling equipment units to form a JV in offshore drilling.
  • JV could threaten NOV's offshore drilling equipment unit, which is experiencing headwinds at current oil prices.
  • NOV's management recently lowered Q1 2021 guidance. If segments other than offshore pull back, then it could be concerning.
  • NOV's robust working capital should sustain the company for several quarters until the economy reopens. I rate NOV a hold.

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Baker Hughes, Akastor JV Could Threaten National Oilwell Varco
Stock Information
Company Name: Aker Solutions ASA ADR
Stock Symbol: AKRYY
Market: OTC
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