National Oilwell Varco Inc. (NOV) is a leading provider of equipment and technology solutions to the global oil and gas industry. The company was founded in 1841 as the National Manufacturing Company, and over the years, it went through several mergers and acquisitions to become the company it is today. In 2005, the merger between National Oilwell and Varco International resulted in the formation of National Oilwell Varco Inc.
NOV designs, manufactures, and sells a wide range of products and services used in drilling, completion, and production activities in the oil and gas industry. The company operates through three main segments: Rig Technologies, Wellbore Technologies, and Completion & Production Solutions. These segments provide equipment, components, and services such as drilling rigs, drilling equipment, downhole tools, wellbore cleanup tools, artificial lift systems, and more.
As a global company, NOV has a presence in numerous countries and serves customers across the globe. It operates manufacturing facilities, service centers, and distribution hubs in key oil and gas regions, including North America, Europe, Asia Pacific, and the Middle East. The company has a diverse customer base that includes oil and gas operators, drilling contractors, and service companies.
NOV is listed on the New York Stock Exchange (NYSE) under the ticker symbol "NOV." It is a component of various stock market indices, including the S&P 500 Index. The company's stock is actively traded, and it is considered one of the major players in the oilfield services industry.
The company invests heavily in research and development to develop cutting-edge solutions that improve efficiency, safety, and productivity in oilfield operations. NOV's flagship product is the NOVOS drilling automation system, which integrates advanced software, sensors, and control systems to automate drilling operations and optimize performance. This technology enables operators to enhance drilling efficiency, reduce downtime, and increase overall well productivity.
In addition to its products and services, NOV also offers comprehensive aftermarket support and maintenance solutions to its customers. The company's dedicated service technicians, field engineers, and customer support teams provide technical assistance, equipment maintenance, and repair services to ensure the optimal performance and longevity of its products.