I don't think we go to 50. Hell, it only went to 35 right after Macondo. That's when I first got in, but they bought Robbins and some other stuff since then, plus Buffett taking a position. If we went below 50 again, Warren might buy it outright.
NOV has a moat, because they are creating a one-stop shop for rig equipment. Operators like that. Next they bring all the functions on the rig into one operating system. Soon they will only need people on the rig to move equipment around and hook up more pipe. Probably automate that soon also. Everything can be controlled and monitored from operators headquarters or wherever.