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Company Description

Contact Info

7909 Parkwood Circle Drive

Houston, TX 77036

United States

Phone: 713-375-3700

Fax: 713-375-3994

National Oilwell Varco, Inc. provides 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 approximately 1,235 locations across 6 continents. Segments The company operates through three segments: Rig Technology, Petroleum Services & Supplies, and Distribution & Transmission. RIG TECHNOLOGY The Rig Technology segment designs, manufactures and sells various top drives, automated pipe handling systems, motion compensation systems, rig controls, blowout preventers (BOPs), handling tools, drawworks, risers, rotary tables, mud pumps, cranes, drilling motors, turret mooring systems and other products for floating production, storage and offloading vessels (FPSOs) and other offshore vessels and terminals, and other drilling equipment for both the onshore and offshore markets. Rig Technology segment also manufactures entire rig packages, both drilling and workover, in addition to well servicing equipment such as coiled tubing units, pressure pumping equipment, and wireline winches. The Rig Technology segment sells directly to drilling contractors, shipyards and other rig fabricators, well servicing companies, national oil companies, major and independent oil and gas companies, supply stores, and pipe-running service providers. It rents and sells proprietary drilling rig instrumentation packages and control systems which monitor various processes throughout the drilling operation, under the name MD /Totco (Instrumentation). Land Rig Packages: The company designs, manufactures, assembles, upgrades, and supplies equipment sets to various land drilling rigs, including those specifically designed to operate in harsh environments, such as the Arctic Circle and the desert. The company’s key land rig product names include the Drake Rig, Ideal Rig and Rapid Rig. Top Drives: The TDS Top Drive Drilling System significantly alters the traditional drilling process. The TDS Top Drive Drilling System rotates the drill stem from its top, rather than by the rotary table, with a large electric motor affixed to rails installed in the derrick that traverses the length of the derrick to the rig floor. 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 motor technology to the industry. These permanent magnet motors are being used 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. The Rotary Support Table is used in concert with the TDS to completely 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 and transport tubulars up to the rig floor and into a vertical position for use in the drilling process. Pipe Handling Tools: The company’s pipe handling tools are designed to enhance the safety, efficiency and reliability of pipe handling operations. Many of these tools have provided methods of performing the designated task through mechanization of functions previously performed manually. The Rig Technology segment manufactures various tools used to grip, hold, raise, and lower pipe, and in the making up and breaking out of drill pipe, workstrings, casing and production tubulars including spinning wrenches, manual tongs, torque wrenches and kelly spinners. Mud Pumps: Mud pumps are high pressure pumps located on the rig that force drilling mud down the drill pipe, through the drill bit, and up the space between the drill pipe and the drilled formation (the annulus


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Valuation NOV* Industry Range
Price/Earnings 8.9x
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Price/Cash Flow 9.1x
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