National Oilwell Varco
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| Public | |
| Traded as | : NOV S&P 500 Component |
| Industry | Oilfield Services & Equipment |
| Headquarters | Houston, Texas, U.S. |
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Key people
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Chief Executive Officer: Clay C. Williams |
| Products | Oilfield Products & Services |
| Revenue |
 US$22.9 Billion (FY 2013) |
|
US$3.4 Billion (FY 2013) |
|
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US$2.3 Billion (FY 2013) |
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| Total assets |
US$31.484 Billion (FY 2012) |
| Total equity |
US$20.239 Billion (FY 2012) |
|
Number of employees
|
64,000 (2014) |
| Website | http://www.nov.com/ |
National Oilwell Varco (NOV) is an American multinational corporation based in Greater Sharpstown, Houston, Texas. It is a leading worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company conducts operations in more than 1,200 locations across six continents.
The Company's common stock is traded on the under the symbol "NOV". The company operates through four reporting segments that were reorganized in 2014: Rig Systems, Rig Aftermarket, Completion and Production Solutions, and Wellbore Technologies.
Products include all the heavy hardware for oil well drilling as well as drilling instrumentation and controls and drilling power generation and control. A partial list of heavy hardware includes topdrives, rotarys, drawworks, derricks, BOPs (blowout preventers), mud pumps, riser equipment, and complete drilling rigs. Products also include instruments and controls required on the rig floor for the drilling operation. This includes sophisticated electronics for precise control, such as the control system Cyberbase. NOV also produces control electronics for power generation and control of drilling motors and motor control centers for AC motor control.
In 2008, the Houston Chronicle ranked National Oilwell Varco as the best company in Greater Houston. In 2007, the newspaper ranked National Oilwell Varco number 15.
NOV is the Houston area's largest energy employer, with more than 14,500 workers in the region, according to Houston Business Journal research.
National Oilwell's two main predecessors, Oilwell Supply and National Supply, were founded in 1862 and 1893, respectively. These two companies manufactured and distributed pumps and derricks. In 1930, United States Steel acquired Oilwell Supply. In 1958, Armco Steel merged with National Supply. In 1987, National Supply merged with USS Oilwell to become "National Oilwell". In 2000, National Oilwell merged with IRI International Corp., founded and managed by Hushang Ansary, which manufactures and sells drilling rigs and specialty steel products.
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Wikipedia