NOV Inc. Company News

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NOV Wins Barossa Submerged Turret Contract
A unit of NOV will supply a submerged turret production system for the Santos-operated project.
8:00 PM EST | May 13, 2021
Schlumberger and NOV Want Faster Automated Drilling Adoption
The companies are teaming up in digital drilling automation for wellbore construction. IMAGE SOURCE: Schlumberger
8:00 PM EST | May 11, 2021
Which Major OFS Player Seems Most Bullish About 2021?
Here is a recap oil and gas market hits and misses for the week ending Jan. 22, 2021.
7:00 PM EST | January 21, 2021
Oilfield Services Players Seek Electric Fracturing Supremacy
Rigzone prognosticators identify trends to watch this week in the oil and gas markets.
7:00 PM EST | November 22, 2020
NOV and NexTier to Test Electric Frac Prototype
The companies will jointly field-test a prototype of NOV's electric fracturing system.
7:00 PM EST | November 18, 2020
NOV Names New Chief Technology Officer
National Oilwell Varco reported that Hege Kverneland is retiring as VP and CTO.
8:00 PM EST | April 12, 2020
ConocoPhillips Awards Barossa Contracts to NOV and Aker
The Barossa field development will extend the Darwin LNG export facility's service life.
7:00 PM EST | March 03, 2020
NOV, Pumpco Energy Services Cut Jobs in Texas
Two oilfield services companies have conducted layoffs in Texas, according to notices received by the Texas Workforce Commission.
7:00 PM EST | December 01, 2019
NOV to Discuss Restructuring in 2Q Earnings Call
NOV didn't confirm recent reports of layoffs, but said it would provide updates surrounding cost-cutting in its second quarter earnings call next week.
8:00 PM EST | July 23, 2019
NOV Claims History-Making Sale
Transocean will acquire 20K BOP stacks from NOV.
8:00 PM EST | June 06, 2019
National Oilwell Varco Equipment Orders Rise, Loss Narrows
NOV said oilfield equipment orders rose to their highest in over two years last quarter as rising crude prices spurred U.S. drilling activity.
7:00 PM EST | February 05, 2018
Robotics and Automation: The Oil, Gas Skillsets of the Future
What are oil and gas companies doing to embrace robotics and automation and what type of workers do they need to execute these missions?
7:00 PM EST | November 14, 2017
Offshore Drillers Still Seeking Recovery Enjoyed by Shale
While oil drillers in US shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel.
7:00 PM EST | February 06, 2017
Shale Drilling Technology to Head Overseas in Next Market Upturn
NOV Chairman, President and CEO Clay Williams expects the next upturn to see drilling technology that enabled the US shale boom to be adopted overseas.
8:00 PM EST | October 26, 2016
NOV Lays Off 54 Houston Workers as Part of Consolidation
National Oilwell Varco is consolidating one of its Houston facilities and laying off 54 workers.
8:00 PM EST | September 12, 2016
NOV to Lay Off 54 Workers Near Houston
National Oilwell Varco will lay off 54 workers near Houston.
8:00 PM EST | May 31, 2016
National Oilwell Varco Lays Off Another 520 Staff In Norway
National Oilwell Varco will cut its Norwegian workforce by another 520 people after low oil prices resulted in fewer orders.
8:00 PM EST | April 21, 2016
National Oilwell Slashes Dividend by 89% amid Oil Slump
National Oilwell Varco Inc will cut its quarterly dividend by 89% as the company struggles to cope with a prolonged slump in oil prices.
8:00 PM EST | April 10, 2016
NOV Will Lay Off More Workers in Norway
National Oilwell Varco will conduct mass layoffs in Norway due to the market environment.
8:00 PM EST | April 03, 2016
National Oilwell Considering Billion-Dollar M&A in Oil Slump
After slowing down its M&A machine considerably over the past two years, National Oilwell Varco is looking at acquisitions in the billion-dollar range.
8:00 PM EST | March 21, 2016
Oil, Gas Companies to Lay Off Hundreds More in Texas
C&J Energy Services and other oil and gas companies reduce their workforce to manage the oil glut.
8:00 PM EST | March 13, 2016
Subsea 7, National Oilwell Varco Secure Sea Lion FEED Contracts
Subsea 7 and National Oilwell Varco secure services contracts in connection to the Sea Lion development, which is located offshore the Falkland Islands.
7:00 PM EST | February 10, 2016
National Oilwell Posts 4th-Qtr Loss on $1.63B Charge
US oilfield equipment supplier National Oilwell Varco reports a loss for the fourth quarter of 2015.
7:00 PM EST | February 02, 2016
Barometer of Shale Oil Industry's Health Warns Agony to Get Worse
Oilfield equipment giant National Oilwell Varco warns the pace of drilling and fracking will only slow more as 2016 drags on.
7:00 PM EST | February 02, 2016
Oil, Gas Companies Cut Hundreds More Jobs in Texas
Four more oil and gas companies announce hundreds of layoffs in Texas.
7:00 PM EST | January 31, 2016
NOV, Lone Star College Partner to Provide Training for 271 Workers
National Oilwell Varco and Lone Star College partner to provide job training to 271 workers.
7:00 PM EST | December 15, 2015
National Oilwell Varco To Cut Another 900 Norwegian Jobs
National Oilwell Varco will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders.
7:00 PM EST | December 06, 2015
NOV's David Reid Talks Survival at Oil, Gas Conference
David Reid of National Oilwell Varco discusses how oil and gas companies can survive and thrive during the downturn.
8:00 PM EST | September 23, 2015
NOV's Williams: Energy Industry Will Barrel On
National Oilwell Varco's CEO, Clay Williams, tells Rigzone that after enduring six downturns in his career, he's learned there's always an upside.
8:00 PM EST | August 25, 2015
NOV CEO: Leadership Optimism Is Key During a Downturn
NOV CEO Clay Williams talks with Rigzone about the work of leading an international company during a challenging marketplace and changing times.
8:00 PM EST | August 24, 2015
National Oilwell Varco to Cut 1,500 Norwegian Jobs
US oilfield equipment maker National Oilwell Varco will cut its Norwegian workforce by 1,500 by the end of 2015, it says.
8:00 PM EST | June 16, 2015
National Oilwell Seeks Bargains In Depressed Oilfield Market
National Oilwell Varco reports lower-than-expected quarterly revenue.
8:00 PM EST | April 27, 2015
National Oilwell Expects Offshore Rig Demand To Slow
National Oilwell says orders fell by nearly a quarter in the first quarter and it expects demand for new offshore rigs to slow during the second half of the year.
8:00 PM EST | April 27, 2014
National Oilwell Adj Profit Boosted By Rig Technology Business
National Oilwell Varco sees nine percent increase in revenues thanks to strong demand for its rig technology services.
7:00 PM EST | January 30, 2014
Petrofac Awards Keys Contracts for Derrick Lay Vessel
Petrofac awards all the key contracts for its Petrofac JSD 6000 deepwater derrick lay vessel.
7:00 PM EST | January 15, 2014
NOV, Ensco CEOs to Resign
The CEOs of National Oilwell Varco Chairman and Ensco announce they will resign from their positions.
7:00 PM EST | November 13, 2013
Morningstar Names NOV's Miller CEO of the Year
Morningstar, Inc., a leading provider of independent investment research, named Merrill A. (Pete) Miller Jr., CEO of Houston-based National Oilwell Varco, as its 2012 CEO of the Year.
7:00 PM EST | January 02, 2013
National Oilwell Varco to Buy Schlumberger's Wilson Segment
National Oilwell Varco has entered into an agreement with Schlumberger Limited to purchase its Wilson distribution business segment.
8:00 PM EST | April 10, 2012
Subsea 7 and NKT Sell Flexible Pipe Business to National Oilwell Varco
NKT Flexibles made operating profit of $ million last year, contributing $29 million to Subsea 7's own profits.
7:00 PM EST | February 02, 2012
NOV Posts 3Q Earnings
NOV reported that for the 3Q ended September 30, 2011 it earned net income of $532MM, compared to 2Q ended June 30, 2011 net income of $481MM.
8:00 PM EST | October 24, 2011
NOV Notes Quarterly Dividend
National Oilwell Varco has declared the regular quarterly cash dividend.
8:00 PM EST | August 17, 2011
NOV Pens $1.5B Deal for 7 Drillship Equipment Packages
National Oilwell Varco has signed contracts to supply drilling equipment packages for seven drillships to Estaleiro Atlantico Sul.
8:00 PM EST | August 14, 2011
NOV Reports $3.51B in 2Q Earnings
"Our Company achieved strong earnings this quarter, thanks to the hard work of our dedicated employees, who provide great service, quality products, and remarkable technology to the oil and gas industry worldwide, every day," said Pete Miller.
8:00 PM EST | July 25, 2011
National Oilwell Varco Reports 1Q Income for 2011
National Oilwell Varco reported that for its first quarter ended March 31, 2011 it earned net income of $407 million, or $0.96 per fully diluted share.
8:00 PM EST | April 26, 2011
National Oilwell Varco Spotlights 'Solid' 4Q10 Profits
"We achieved solid results in 2010. We were able to make our businesses more efficient, while continuing to invest for future growth," said Pete Miller.
7:00 PM EST | February 02, 2011
National Oilwell Varco Increases Quarterly Dividend
National Oilwell Varco has approved a 10 percent increase in the regular quarterly cash dividend to $0.11 per share of common stock.
7:00 PM EST | November 17, 2010
National Oilwell Boasts $3.01B in 3Q10 Revenues
National Oilwell's revenues for the 3Q of 2010 were $3.01B, an increase of two percent from the second quarter of 2010 and a decrease of two percent from the third quarter of 2009.
8:00 PM EST | October 25, 2010
National Oilwell Touts $2.94B in 2Q Revenues
"Our Company achieved solid earnings this quarter, thanks to the hard work of our dedicated employees, who provide great service, quality products, and remarkable technology to the oil and gas industry worldwide, every day," said Pete Miller.
8:00 PM EST | July 28, 2010
National Oilwell Varco Off to a Strong Start in 2010
National Oilwell Varco reported that for its first quarter ended March 31, 2010 it earned net income of $422 million, or $1.01 per fully diluted share, up seven percent compared to fourth quarter ended December 31, 2009 net income of $394 million.
8:00 PM EST | April 26, 2010
Prosafe Intends to Sell Turret & Swivel Business to NOV
Prosafe Production has entered into a Letter of Intent with National Oilwell Varco to sell the turret and swivel business for US $165 million.
8:00 PM EST | March 22, 2010