NOV Inc.
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About
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
NOV changed its name from National Oilwell Varco Inc. effective Jan. 1, 2021.
Editor's note: Updated Jan. 4, 2021.
Transactions
Saudi Aramco, NOV Form JV To Make Onshore Oil Rigs, Equipment
Saudi Aramco, NOV Form JV To Make Onshore Oil Rigs, Equipment
Flotek Divests Drilling Tech Segment To NOV
Flotek Divests Drilling Tech Segment To NOV
National Oilwell Varco Completes Acquisition Of Fjords Processing
National Oilwell Varco Completes Acquisition Of Fjords Processing
National Oilwell Varco Completes Acquisition Of Fjords Processing
National Oilwell Varco Completes Acquisition Of Fjords Processing
Trican Closes Sale Of Completion Tools Business To NOV
Trican Closes Sale Of Completion Tools Business To NOV
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New Financings
National Oilwell Varco Inc. issued a notice to redeem a portion of its 2.60% senior notes due…
Authorized a share repurchase program to purchase up to $500 million of the company's outstanding…
The board approved a public and private buyback program for outstanding common shares that will be in…
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News
How Chevron’s Anchor Took on the ‘Elephant’ in the GoM’s Deepwater
First oil at Chevron's deepwater Anchor project is a major technological milestone in a wider industry effort to tap giant, ultra-high-pressure, high-temperature reservoirs in the Gulf of Mexico.
Cormetech Appoints Patricia Martinez to President, CEO
Cormetech’s former President & CEO Mike Mattes will now serve as chairman of the board.
EQT: Glut of Low Carbon Tech Like ‘Manhattan Project on Steroids’
Executives at EQT, NOV and Oxy Low Carbon Ventures discussed technology, scalability and other energy transition needs at a recent SPE conference.
Dividends Declared in the Week of Aug. 12
As second-quarter earnings season wraps up, here is a roundup of select upstream, midstream and service and supply companies’ dividends declared in the week of Aug. 12.
International OFS Firm HMH Plans to IPO, Activate in M&A
The firm is a 50/50 joint venture of Baker Hughes and Akastor ASA formed in 2021 to include brands such as Hydril and Vetco Gray as well as Wirth and Maritime Hydraulics.
The Nuclear Option: E&Ps See Promising Yield from Mobile Reactors
In the Permian Basin and elsewhere, energy players consider adding small modular reactors and microreactors to their energy supply mix as electricity demand grows.
As Oil Production Scales the Heights, Texas E&P Jobs Disappear —TXOGA
As operational efficiencies give E&Ps the ability to produce more oil with fewer rigs, Texas employment in the oil patch has fallen five out of the first six months of 2024.
Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024
As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.
International, Tech Drive NOV’s 2Q Growth Amid US E&P Headwinds
Despite a U.S. drilling slowdown, slightly offset by Permian Basin activity, NOV saw overall second-quarter revenue grow by 6%, although second-half 2024 challenges remain in North America.
Dividends Declared Week of May 20, 2024
Here is a selection of upstream and service and supply company dividends declared in the past week.
The ‘Necessary Evil’ of Four-mile Laterals
While extended length lateral wells can lead to massive profits, the risk might not always be worth it. At Hart Energy’s SUPER DUG, Diamondback Energy, SLB, NOV and others weighed the risk and rewards of drilling three- and four-mile laterals.
NOV Announces $1B Repurchase Program, Ups Dividend
NOV expects to increase its quarterly cash dividend on its common stock by 50% to $0.075 per share from $0.05 per share.
Tech Trends: AI Increasing Data Center Demand for Energy
In this month’s Tech Trends, new technologies equipped with artificial intelligence take the forefront, as they assist with safety and seismic fault detection. Also, independent contractor Stena Drilling begins upgrades for their Evolution drillship.
Stena Evolution Upgrade Planned for Sparta Ops
The seventh-gen drillship will be upgraded with a 20,000-psi equipment package starting in 2026.
Rystad: More Deepwater Wells to be Drilled in 2024
Upstream majors dive into deeper and frontier waters while exploration budgets for 2024 remain flat.