National Oilwell Varco Company News

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National Oilwell Sees 'Isolated Green Shoots of Activity'
Thursday, July 28, 2016National Oilwell Varco, the largest US oilfield equipment provider, says demand rose for some of its products and services in North America in recent weeks, as drillers put rigs back to work.

Oilfield Cannibals: To Save Cash, US Drillers Strip Idle Rigs
Wednesday, October 07, 2015In a bid to save cash, rig owners are cannibalizing parts such as motors and drill pipe from idled rigs to fix 800 active ones in the US when stuff breaks.

National Oilwell Sees Falling Demand For Deepwater Rigs
Tuesday, July 29, 2014National Oilwell Varco forecasts falling demand for deepwater rigs, overshadowing robust demand for jackups, used in shallower waters, as well as land rigs.

National Oilwell Varco Sees Benefits in Oil Patch Trends
Thursday, February 04, 2010Demand for the latest rig technology, expanded shale drilling overseas and the need to replace equipment used in harsh environments will drive growth for NOV.

National Oilwell Varco Thrives with Strong Q2 2008 Results
Tuesday, July 29, 2008National Oilwell Varco reported that for its second quarter ended June 30, 2008, it earned net income of $421.7 million, which includes $62.5 million of pre-tax charges related to its merger with Grant Prideco, Inc.

National Oilwell Varco Agrees to Acquire Grant Prideco
Monday, December 17, 2007National Oilwell Varco and Grant Prideco have entered into a definitive merger agreement whereby National Oilwell Varco will acquire all of the outstanding shares of Grant Prideco in a cash and stock transaction.

MARACC Awards Topside Contracts for Newbuild Intervention Rig
Thursday, September 06, 2007MARACC has awarded a contract to National Oilwell Norway AS for the supply of the Topside System for the new semisubmersible intervention rig under construction at the Cosco Zhoushan shipyard in China.

National Oilwell Varco Announces 2-for-1 Stock Split
Thursday, August 23, 2007NOV has approved a 2-for-1 stock split to be effected in the form of a stock dividend.

National Oilwell Varco Acquires Majority Stake in Sara Services & Engineers
Tuesday, July 31, 2007National Oilwell Varco has acquired a 76 percent stake in Sara Services and Engineers Private Limited, a company in India, for a total cash purchase price of approximately U.S. $26 million.

National Oilwell Varco Announces First Quarter 2007 Earnings and Backlog
Friday, April 27, 2007National Oilwell Varco reported that for its first quarter ended March 31, 2007 it earned net income of $275.9 million compared to fourth quarter ended December 31, 2006 net income of $239.2 million.

James Woods Retires from NOV Board
Friday, December 22, 2006National Oilwell Varco, Inc. announced that James D. Woods has elected to retire from its board of directors, effective December 31, 2006.

National Oilwell Varco Acquires Control of NQL Energy Services
Thursday, December 07, 2006NQL Energy Services and National Oilwell Varco report that 38,161,432 Class "A" common shares of NQL representing approximately 85% of the issued and outstanding Shares have been validly tendered.

Network General Provides 'Black Box' for Oil Rig 'Flight Deck'
Tuesday, October 03, 2006Network General says that National Oilwell Varco has integrated high speed data logging technology from Network General into Cyberbase, its command centre for controlling drilling machinery.

National Oilwell Varco Selects Aonix PERC for Java-based Robotic Drilling
Monday, September 25, 2006National Oilwell Varco has selected the Aonix PERC Ultra(TM) virtual machine (VM) for its Java(TM)-based control system that manages automated robotic drilling.

Patterson-UTI Inks Deal to Purchase Rig Parts from National Oilwell Varco
Monday, August 28, 2006Patterson-UTI Energy has entered into an agreement to purchase approximately $100 million of rig components from National Oilwell Varco with scheduled delivery on various dates in 2007.

OffRig and National Agree to Extend Option for Drilling Package
Monday, July 31, 2006OffRig Drilling ASA and National Oilwell has agreed to extend the validity of option for the fourth semisubmersible drilling package from the end of July 06 to the end December 06.