National Oilwell Varco Announces Management Changes

  National Oilwell Varco Announces Management Changes

Business Wire

HOUSTON -- December 06, 2012

National Oilwell Varco, Inc. (NYSE: NOV) announced today that Clay Williams
has been named President and Chief Operating Officer of National Oilwell
Varco.

Mr. Williams has served as the Company’s Executive Vice President and Chief
Financial Officer since March 2005. He served as Varco International, Inc.’s
Vice President and Chief Financial Officer from January 2003 until its merger
with the Company in March 2005.

Jeremy Thigpen will assume the role of Senior Vice President and Chief
Financial Officer. Mr. Thigpen has served as the Company’s President –
Downhole Pumping and Solutions since 2007. Prior to that, Mr. Thigpen was the
President of the Company’s Downhole Tools group from 2003 until 2007. Mr.
Thigpen has been with National Oilwell Varco for 15 years, holding various
positions during his career.

Pete Miller, Chairman and CEO of National Oilwell Varco, remarked, “These
changes bring together an outstanding group of seasoned leaders, with a broad
range of talents and abilities and a proven history of delivering results. I
have worked closely with Clay and Jeremy over the years as they have both
contributed to the growth and strong performance of the Company. I am excited
to announce these promotions and look forward to the continued contributions
of Clay and Jeremy to the success of our Company.”

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.

Statements made in this press release that are forward-looking in nature are
intended to be "forward-looking statements" within the meaning of Section 21E
of the Securities Exchange Act of 1934 and may involve risks and
uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to documents filed by National Oilwell
Varco with the Securities and Exchange Commission, including the Annual Report
on Form 10-K, which identify significant risk factors which could cause actual
results to differ from those contained in the forward-looking statements.

Contact:

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