National Oilwell Varco and Robbins & Myers Receive Clearance

National Oilwell Varco (NYSE: NOV) and Robbins & Myers (NYSE: RBN) jointly announced today that the Antitrust Division of the United States Department of Justice has closed its investigation of the parties’ previously announced merger.

NOV and RBN also received today a no action letter from the Canadian Competition Bureau. Having received clearance from the United States and Canada, NOV and RBN expect to complete the merger tomorrow, February 20, 2013. The transaction has been cleared without modification.


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Oilfield Activity May Be Rebounding

After months of decommissioning drilling rigs to balance out lower energy prices and expensive well service costs, mass amputations appear to be over in the oilfield due to a rebound in prices. However, the natural gas sector continues to drown in oversupply. The national oil and gas rig count has been slashed in half since last summer's highs. But since June 5, the number of oil rigs in production has climbed from 179 to 219.....Complete Story

Trading Video > US Dollar Index and it’s affect on Crude Oil