I'm an NNR instructor and need to clear up a few things.
If a baby is not vigorous and there was meconium in the fluid, suctioning to be sure there is no mec below the cords is the first thing done. The point is to avoid stimulating the baby first so they don't suck mec further down into the lungs. The baby not being vigorous is far more serious than a baby that is vigorous. A meconium aspirator should be used to assist suctioning.
Although oxygen should be carried by the midwife, it is not the first thing used in resuscitating a baby. It is only when the baby's heart rate does not rise to normal levels after at least 30 seconds of adequate ventilation. This means that positioning must be correct, the airway must be clear, and the person performing the resuscitation must be using the correct technique. AAP/NNR are quite explicit about oxygen that it may be needed but resuscitation should and can be started with room air because we may be causing neurobehavioral harm to the baby by using this medical gas when it is not needed. Oxygen is no substitute for poor technique.
Buzzbuzz, I have needed to do resuscitation on a baby born in water. Of the few times I have, it has never been more than a few puffs with bag and mask, or some suction. Suction by itself can be enough stimulation to make the baby gasp and start respirations if previously unresponsive. But as a lactation consultant, if you need to suction, please do it as gently as possible to avoid causing trauma.
And lastly, AAP/NNR are also explicit that successfully completing a class in NNR does not certify anyone. You have completed the class, it is not a certification program and does not guarantee competency or proficiency. Those things come with practice and experience.