National Oilwell Varco Announces Increase in Regular Quarterly Dividend

  National Oilwell Varco Announces Increase in Regular Quarterly Dividend

Business Wire

HOUSTON -- November 15, 2012

National Oilwell Varco, Inc. (NYSE: NOV) today announced that its Board of
Directors has approved an increase in the regular quarterly cash dividend to
$0.13 per share of common stock, payable on December 21, 2012 to each
stockholder of record on December 7, 2012.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked,
"This dividend increase reflects the Company's strong financial condition and
our confidence in our business going forward."

National Oilwell Varco is a worldwide leader in the design, manufacture and
sale of equipment and components used in oil and gas drilling and production
operations, the provision of oilfield services, and supply chain integration
services to the upstream oil and gas industry.

Contact:

National Oilwell Varco, Inc.
Clay Williams, 713-346-7606