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Last $37.35 USD
Change Today -0.73 / -1.92%
Volume 1.4M
NOV On Other Exchanges
New York
As of 5:15 PM 11/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

7909 Parkwood Circle Drive

Houston, TX 77036

United States

Phone: 713-346-7500


National Oilwell Varco, Inc. engages in the design, manufacture, and sale of equipment and components used in oil and gas drilling, completion, and production operations; and the provision of oilfield services to the upstream oil and gas industry worldwide. The company conducts operations in approximately 900 locations across 6 continents. Segments The company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. Rig Systems segment This segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. This segment designs, manufactures, and sells land rigs, offshore drilling equipment packages (including installation and commissioning services), and drilling rig components that mechanize and automate the drilling process and rig functionality. Equipment and technologies in Rig Systems include substructures, derricks, and masts; cranes; pipe lifting, racking, rotating, and assembly systems; fluid transfer technologies, such as mud pumps; pressure control equipment, including blowout preventers (BOPs); power transmission systems, including drives and generators; and rig instrumentation and control systems. This segment supports land and offshore drillers. Land Rig Packages The company designs, manufactures, assembles, upgrades, and supplies equipment sets to various land drilling rigs, including those primarily designed to operate in harsh environments, such as the Arctic Circle and the desert. The company’s major land rig product names include the Drake Rig, Ideal Rig, and Rapid Rig. The company’s new rig packages are designed to be safer and fast moving, to utilize AC technology, and to reduce manpower required to operate a rig. Top Drives The TDS Top Drive Drilling System altered the traditional drilling process. The TDS rotates the drill stem from its top, rather than by the rotary table, with an electric motor affixed to rails installed in the derrick that traverses the length of the derrick to the rig floor, eliminating the conventional rotary table for drilling. Components of the TDS are also used to connect additional joints of drill pipe to the drill stem during drilling operations, enabling the use of three or four pre-connected joints of drill pipe at a time, compared to traditional drilling with one joint of drill pipe. Additionally, the TDS facilitates horizontal and extended reach drilling. Electric Rig Motors The company has helped lead the application of AC motor technology in the oilfield industry. The company buys motors from third parties and builds them in its own facilities and is further developing motor technology, including the introduction of permanent magnet drilling motors for use in top drives, cranes, mud pumps, winches, and drawworks. Rotary Equipment The alternative to using a TDS to rotate the drill stem is to use a rotary table, which rotates the pipe at the floor of the rig. Rig Systems produces rotary tables, as well as kelly and master bushings. The company offers the Rotary Support Table for use on rigs with a TDS. The Rotary Support Table is used in concert with the TDS to eliminate the need for the larger conventional rotary table. Pipe Handling Systems Pipe racking systems are used to handle drill pipe, casing and tubing on a drilling rig. Vertical pipe racking systems move drill pipe and casing between the well and a storage (racking) area on the rig floor. Horizontal racking systems are used to handle tubulars while stored horizontally (on the pipe deck of an offshore rig) and transport tubulars up to the rig floor and into a vertical position for use in the drilling process. Vertical pipe racking systems are used primarily on offshore rigs and are found on almost all floating rigs. Mechanical vertical pipe racking systems reduce the manual effort involved in pipe handling. Pipe racking systems provide an automated mechanism for handling and racking drill pipe during drilling and tripping operations, spinning and torquing drill pipe, and automatic hoisting and racking of disconnected joints of drill pipe.


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