National Oilwell Varco to Buy Schlumberger's Wilson Segment

National Oilwell Varco, Inc. has entered into an agreement with Schlumberger Limited to purchase its Wilson distribution business segment. Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed.

"We are excited about the new market opportunities Wilson will open for our Company, and we look forward to welcoming the Wilson employees into National Oilwell Varco soon," said Chairman, President and CEO of National Oilwell Varco Pete Miller.