About the Company
Founded in 1841, National Oilwell Varco, Inc. or Nov Inc. is essentially involved in oil and gas field machinery and equipment. The company’s prime operations fall under the industry of oilfield services and equipment. It is registered with the US Security and Stock Exchange Commission and is incorporated in the state of Delaware. National Oilwell Varco, Inc. shares are traded on NYSE under the ticker symbol of ‘’NOV’’. The company stocks are also enlisted in the S&P 500 index.
As of 2020, National Oilwell Varco, Inc. has an approximate 35000 employees working for it. The company exerts a strong global presence in more than 600 locations across six continents. With nearly 1200 facilities, National Oilwell Varco, Inc. continues its worldwide oil and gas drilling production. The company’s equipment is utilized in different oil rigs. Moreover, the drilling equipment and offshore platforms are used worldwide, and in the Gulf of Mexico as well.
National Oilwell Varco, Inc. maintains its operations through three segments. These include Rig Technologies, Wellbore Technologies, Completion and Production Solutions.
Under the Rig Technologies segment, the essential products that are designed and manufactured include drilling rigs, advanced drilling equipment packages, various capital equipment, marine construction equipment as well as aftermarket equipment and services etc.
Wellbore Technologies focuses on developing equipment, technologies and services important to accelerate the productivity and business of oil and gas wells.
The third segment, Completion and Production Solutions deals with the production of equipment and technologies required to enhance the well completion process and manufacturing phase of a well’s life cycle. This segment provides the necessary equipment for upstream and midstream operations.
The history of National Oilwell Varco, Inc.’s foundation dates back to 1841. Two companies, namely Oilwell Supply and National Supply, joined to form National Oilwell. The company acquired its name of National Oilwell Varco, Inc. when National Oilwell merged with Verco in 2005.
Till 2020, National Oilwell Varco, Inc. acquired more than 25 companies in 4 different US states and 8 countries. Its largest acquisition to date occurred in 2008 when it purchased Grant Prideco for $7.4 billion.
In the past decade, National Oilwell Varco, Inc. won several awards and accolades. In the year 2015, Houston Chronicle listed NOV Inc. as one of Houston’s major 100 countries. In 2020, the company got recognised on Forbes’ list of America’s Best Employers by State. As of 2020, National Oilwell Varco, Inc. ranks 374th in the list of Fortune 500 companies.;
|Organisation||National Oilwell Varco Inc|
|Industry||Oil & Gas Equipment & Services|