National Oilwell Varco Company News

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NOV to Discuss Restructuring in 2Q Earnings Call
Wednesday, July 24, 2019 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.

NOV Claims History-Making Sale
Friday, June 07, 2019 Transocean will acquire 20K BOP stacks from NOV.

National Oilwell Varco Equipment Orders Rise, Loss Narrows
Tuesday, February 06, 2018 NOV said oilfield equipment orders rose to their highest in over two years last quarter as rising crude prices spurred U.S. drilling activity.

Robotics and Automation: The Oil, Gas Skillsets of the Future
Wednesday, November 15, 2017 What are oil and gas companies doing to embrace robotics and automation and what type of workers do they need to execute these missions?

Offshore Drillers Still Seeking Recovery Enjoyed by Shale
Tuesday, February 07, 2017 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.

Shale Drilling Technology to Head Overseas in Next Market Upturn
Thursday, October 27, 2016 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.

NOV Lays Off 54 Houston Workers as Part of Consolidation
Tuesday, September 13, 2016 National Oilwell Varco is consolidating one of its Houston facilities and laying off 54 workers.

NOV to Lay Off 54 Workers Near Houston
Wednesday, June 01, 2016 National Oilwell Varco will lay off 54 workers near Houston.

National Oilwell Varco Lays Off Another 520 Staff In Norway
Friday, April 22, 2016 National Oilwell Varco will cut its Norwegian workforce by another 520 people after low oil prices resulted in fewer orders.

National Oilwell Slashes Dividend by 89% amid Oil Slump
Monday, April 11, 2016 National Oilwell Varco Inc will cut its quarterly dividend by 89% as the company struggles to cope with a prolonged slump in oil prices.

NOV Will Lay Off More Workers in Norway
Monday, April 04, 2016 National Oilwell Varco will conduct mass layoffs in Norway due to the market environment.

National Oilwell Considering Billion-Dollar M&A in Oil Slump
Tuesday, March 22, 2016 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.

Oil, Gas Companies to Lay Off Hundreds More in Texas
Monday, March 14, 2016 C&J Energy Services and other oil and gas companies reduce their workforce to manage the oil glut.

Subsea 7, National Oilwell Varco Secure Sea Lion FEED Contracts
Thursday, February 11, 2016 Subsea 7 and National Oilwell Varco secure services contracts in connection to the Sea Lion development, which is located offshore the Falkland Islands.

National Oilwell Posts 4th-Qtr Loss on $1.63B Charge
Wednesday, February 03, 2016 US oilfield equipment supplier National Oilwell Varco reports a loss for the fourth quarter of 2015.

Barometer of Shale Oil Industry's Health Warns Agony to Get Worse
Wednesday, February 03, 2016 Oilfield equipment giant National Oilwell Varco warns the pace of drilling and fracking will only slow more as 2016 drags on.

Oil, Gas Companies Cut Hundreds More Jobs in Texas
Monday, February 01, 2016 Four more oil and gas companies announce hundreds of layoffs in Texas.

NOV, Lone Star College Partner to Provide Training for 271 Workers
Wednesday, December 16, 2015 National Oilwell Varco and Lone Star College partner to provide job training to 271 workers.

National Oilwell Varco To Cut Another 900 Norwegian Jobs
Monday, December 07, 2015 National Oilwell Varco will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders.

NOV's David Reid Talks Survival at Oil, Gas Conference
Thursday, September 24, 2015 David Reid of National Oilwell Varco discusses how oil and gas companies can survive and thrive during the downturn.

NOV's Williams: Energy Industry Will Barrel On
Wednesday, August 26, 2015 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.

NOV CEO: Leadership Optimism Is Key During a Downturn
Tuesday, August 25, 2015 NOV CEO Clay Williams talks with Rigzone about the work of leading an international company during a challenging marketplace and changing times.

National Oilwell Varco to Cut 1,500 Norwegian Jobs
Wednesday, June 17, 2015 US oilfield equipment maker National Oilwell Varco will cut its Norwegian workforce by 1,500 by the end of 2015, it says.

National Oilwell Seeks Bargains In Depressed Oilfield Market
Tuesday, April 28, 2015 National Oilwell Varco reports lower-than-expected quarterly revenue.

National Oilwell Expects Offshore Rig Demand To Slow
Monday, April 28, 2014 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.

National Oilwell Adj Profit Boosted By Rig Technology Business
Friday, January 31, 2014 National Oilwell Varco sees nine percent increase in revenues thanks to strong demand for its rig technology services.

Petrofac Awards Keys Contracts for Derrick Lay Vessel
Thursday, January 16, 2014 Petrofac awards all the key contracts for its Petrofac JSD 6000 deepwater derrick lay vessel.

NOV, Ensco CEOs to Resign
Thursday, November 14, 2013 The CEOs of National Oilwell Varco Chairman and Ensco announce they will resign from their positions.

Morningstar Names NOV's Miller CEO of the Year
Thursday, January 03, 2013 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.

National Oilwell Varco to Buy Schlumberger's Wilson Segment
Wednesday, April 11, 2012 National Oilwell Varco has entered into an agreement with Schlumberger Limited to purchase its Wilson distribution business segment.

Subsea 7 and NKT Sell Flexible Pipe Business to National Oilwell Varco
Friday, February 03, 2012 NKT Flexibles made operating profit of $ million last year, contributing $29 million to Subsea 7's own profits.

NOV Posts 3Q Earnings
Tuesday, October 25, 2011 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.

NOV Notes Quarterly Dividend
Thursday, August 18, 2011 National Oilwell Varco has declared the regular quarterly cash dividend.

NOV Pens $1.5B Deal for 7 Drillship Equipment Packages
Monday, August 15, 2011 National Oilwell Varco has signed contracts to supply drilling equipment packages for seven drillships to Estaleiro Atlantico Sul.

NOV Reports $3.51B in 2Q Earnings
Tuesday, July 26, 2011 "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.

National Oilwell Varco Reports 1Q Income for 2011
Wednesday, April 27, 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.

National Oilwell Varco Spotlights 'Solid' 4Q10 Profits
Thursday, February 03, 2011 "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.

National Oilwell Varco Increases Quarterly Dividend
Thursday, November 18, 2010 National Oilwell Varco has approved a 10 percent increase in the regular quarterly cash dividend to $0.11 per share of common stock.

National Oilwell Boasts $3.01B in 3Q10 Revenues
Tuesday, October 26, 2010 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.

National Oilwell Touts $2.94B in 2Q Revenues
Thursday, July 29, 2010 "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.

National Oilwell Varco Off to a Strong Start in 2010
Tuesday, April 27, 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.

Prosafe Intends to Sell Turret & Swivel Business to NOV
Tuesday, March 23, 2010 Prosafe Production has entered into a Letter of Intent with National Oilwell Varco to sell the turret and swivel business for US $165 million.

NOV Declares Regular Quarterly Dividend
Friday, February 26, 2010 National Oilwell Varco's Board of Directors declared the regular quarterly cash dividend.

NOV Ends 2009 with $2.6B in Cash
Wednesday, February 03, 2010 National Oilwell Varco reported that for its fourth quarter ended December 31, 2009 it earned net income of $394 million, compared to third quarter ended September 30, 2009 net income of $385 million.

Patterson-UTI Nixes Drilling & Completion Fluid Services
Wednesday, January 20, 2010 Patterson-UTI has exited the drilling and completion fluid services business.

NOV Adds Two International Private Cos to Family
Tuesday, December 08, 2009 National Oilwell Varco has acquired two private businesses serving the international oil and gas industry, for total consideration of approximately $160 million in cash.

NOV's Board Approves Special Cash Distribution
Tuesday, November 17, 2009 National Oilwell Varco's Board of Directors has approved a special one-time cash dividend of $1.00 per share of common stock.

NOV's 3Q Revenues Up 3% from Second Quarter 2009
Monday, October 26, 2009 National Oilwell Varco's revenues for the third quarter of 2009 were $3,087 million, an increase of 3 percent from the second quarter of 2009 and a decrease of 15 percent from the third quarter of 2008.

NOV Stands Out in Offshore Mud Pump Category
Thursday, October 15, 2009 According to information gathered by premium rig data service RigLogix, National Oilwell Varco leads the pack in providing mud pumps to offshore oil rigs.

NOV and Schlumberger Team Up for IntelliServ JV
Monday, September 28, 2009 National Oilwell Varco and Schlumberger have created a joint venture to provide high-speed drill string telemetry systems to improve the efficiency and safety of oil and gas operations.