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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (37152)	3/29/2010 11:08:48 AM
From: blastedwand	Read Replies (1) \| Respond to of 78670

While we are taking about oil and drilling. I picked up a 5000 share position in NOV at 29 and change last July. In looking at the last 10k they seem to have low debt a lot of cash and according to Yahoo book is about $33 a share. Obviously all these companies have been affected by spending over the last 12-18 months. Backlog was lower than I would have liked to see going into 2010 but it seems that common sense would say all those companies who put off investments and upgrades over that time would eventually have to invest that money in the equipment to maintain operations. I assume that would be positive for NOV but what I would like to get some visibility on would be projected increase in drilling rigs globally as a significant increase in rigs is what will put NOV in a prefect position to capitalize on new business. Is there any place to get that information? EDIT I found a site search BAKER HUGHES. If what I am reading is correct is shows a preety good increase in rigs at the last count on March 19th. sees like an increase of over 500 rigs vs last year. the majority of those in North America. Seems like a good rise in rigs. If that is correct doesn't NOV stand to benefit?