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 NOV Tower in theWestchase district of Houston | |
| Formerly | National Oilwell Varco, Inc. (2005–2021) |
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| Company type | Public |
| Industry | Oilfield services and equipment |
| Predecessors |
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| Founded | 1862; 164 years ago (1862) |
| Headquarters | , United States |
Number of locations | 552 (2021) |
Area served | Worldwide |
Key people | Jose Bayardo (CEO) |
| Revenue |  US$8.87 billion (2024) |
| US$876 million (2024) | |
 US$635 million (2024) | |
| Total assets | US$11,360 million (2024) |
| Total equity | US$6,380 million (2024) |
Number of employees | 34,010 (2024) |
| Divisions |
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| Subsidiaries | |
| Website | nov |
| Footnotes / references Financial, employee, and location figures are for fiscal year 2021[1] | |
NOV Inc., formerlyNational Oilwell Varco, is an Americanmultinational corporation based inHouston, Texas. It is a worldwide provider of equipment and components used inoil and gas drilling andproduction operations,oilfield services, andsupply chain integration services to theupstreamoil and gas industry. The company conducts operations in more than 500 locations across sixcontinents,[1] operating through two reporting segments: Energy Equipment and Energy Products and Services.[2]
NOV's two main predecessors, Oilwell Supply and National Supply, were founded in 1862 and 1893, respectively. These two companies manufactured and distributed pumps and derricks. In 1930,United States Steel acquired Oilwell Supply. In 1958,Armco Steel merged with National Supply. In 1987, National Supply merged with USS Oilwell to become "National Oilwell".
Varco was founded as Abegg and Reinhold Company by Walter Abegg and Baldwin Reinhold in 1908. "VARCO" is an acronym for:Vuilleumiere,Abegg andReinholdCompany after Edgar Vuilleumiere became a partner in 1915, and Varco International in 1973. In 2000, National Oilwell merged with IRI International Corp. (founded as a merger ofIngersollRand Oilfield Products Co. andIDECO Inc. (InternationalDerrick andEquipmentCompany)),[3] founded and managed byHushang Ansary, which manufactures and sells drilling rigs and specialty steel products.[4]
In 2005, National Oilwell and Varco merged to becomeNational Oilwell Varco.[5]
The company acquired majordrill pipe anddrill bit manufacturerGrant Prideco in 2008[6] for $7.37 billion.[7] At the time, Grant Prideco held 60% of the global drill pipe market and operated 25 manufacturing sites worldwide. The acquisition included Grant Prideco's subsidiariesIntelliServ, a producer of drill pipe with built-in equipment to transmit data from a wellhead to surface operators, ReedHycalog, a drill bit producer, and XL Systems, a producer of oil and gas connectors.[5] Grant Prideco, IntelliServ, and ReedHycalog became part of NOV's Wellbore Technologies reporting segment and XL Systems joined the Completion & Production Solutions segment.[1]
In February 2012 NOV acquired Russian coring company Interval Ltd. and purchased Dutch oil rig design company GustoMSC in 2018. GustoMSC, originally the engineering office ofGusto Shipyard, became part of NOV's Rig Technologies segment.[8] In late 2019, NOV boughtBellingham, Washington-based Ershigs, a fabricator of custom pipes and tanks.
National Oilwell Varco changed its name toNOV Inc. on January 1, 2021.[9][10]
The company's headquarters are inSouthwest Management District (formerly Greater Sharpstown), Houston.[11][12] As of 2021[update], it employed over 27,000 people and operated over 550 facilities worldwide.[1]
In 2014, Clay Williams took over as CEO of National Oilwell Varco,[13] succeeding former CEOPete Miller, who served as NOV's CEO for nearly 13 years.[14] After overseeing NOV’s spinoff of its distribution business, Pete Miller became the Executive Chairman and Chairman of the Board of DNOW (NYSE:DNOW), formerly known as DistributionNOW and NOW Inc.[15] He held these roles until his retirement on October 1, 2017[16]
On January 1, 2026, Jose Bayardo, NOV’s former President and COO, succeeded Clay Williams and serves as Chairman, President and Chief Executive Officer.[17]
Rig Technologies engineers and manufactures drilling rigs, drilling equipment packages, and related capital equipment (includingtop drives,iron roughnecks,drawworks,blowout preventers,mud pumps, risers, pipe handling, power and control systems) necessary to drill oil and gas wells, as well as marine construction equipment such as heavy-lift cranes, mooring machinery, jacking systems, pipelay and cablelay systems, andmarine riser tensioners. In addition, the segment provides aftermarket equipment and services such as spare parts, repair, and equipment rentals as well as remote equipment monitoring, technical support, field service, and customer training.
Wellbore Technologies develops equipment, technologies, and services for oil and gas well operation. The segment provides drill bits, borehole enlargement services, anddirectional drilling tools; optimization/automation software and services; downhole tools for drilling and intervention; premium drill pipe and drill stem accessories; solids control and waste management equipment and services; drilling and completionfluids; data acquisition and analytics technologies; managed-pressure-drilling systems; coating and inspection services andRFID technology for drill pipe lifecycle management; andIntelliServ wired drill pipe.
Completion & Production Solutions provides equipment and technologies for the well completion process and production phase of a well's lifecycle. The segment produces intervention and stimulation equipment for pressure pumping,coiled tubing, andwireline operations; composite piping systems, pressure vessels, and structures; integrated processing, production, and pumping equipment (includingartificial lift) forupstream,midstream, and industrial operations; hydrate inhibition and gas processing technologies; subsea and floating production systems, including flexible pipe and subsea water injection technologies; integral and weld-on connectors for conductor strings, surface casing, and liners; and completion tools—including those involved in multistagehydraulic fracturing—liner hanger systems, andsubsurface safety valves.
In 2008, NOV was listed as one of the world's most admired companies byForbes. It was also listed as one of the 100 fastest growing companies byFortune in both 2008[18] and 2009 and one of America's top companies byForbes in 2009.[19]
Corporate Headquarters 7909 Parkwood Circle DriveHouston, Texas 77036
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