United States

Profile: National Oilwell Varco Inc (NOV.N)

NOV.N on New York Stock Exchange

17 Feb 2017
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National Oilwell Varco, Inc. (NOV), incorporated on July 14, 1995, is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. The Company also provides oilfield services to the upstream oil and gas industry. The Company conducts operations in approximately 830 locations across the world.

Rig Systems

The Company's Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. The Rig Systems 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. The 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; power transmission systems, including drives and generators, and rig instrumentation and control systems.

The Company's Top Drives' 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. The Company's Electric Rig Motors 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 drives, cranes, mud pumps, winches and drawworks. The Company produces rotary tables, as well as kelly and master bushings. The 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.

The Company's pipe handling tools are designed to provide pipe handling operations. It 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. The 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 back to the surface. The Company's HEX Pump uses approximately six pumping cylinders.

The Company's Hoisting systems are used to raise or lower the drill stem while drilling or tripping, and to lower casing into the wellbore. The Company's AHD Active Heave Drilling Drawworks uses computer-controlled motors in offshore drilling operations. The Company provides a range of crane solutions, with purpose-built products for various segments of the oil and gas industry, as well as various other markets. The motion compensation equipment is located on top of the drilling rig and serves to stabilize the bit on the bottom of the hole, increasing drilling effectiveness of floating offshore rigs for wave and wind action. The Company's Blowout Preventers (BOP) are devices used to seal the space between the drill pipe and the borehole and also to shear the drill pipe itself to prevent blowouts. Ram and annular BOPs are back-up devices that are activated only if other techniques for controlling pressure in the wellbore are inadequate. The NXT ram type BOP eliminates the door bolts. The ShearMax line of low force BOP shear rams adds substantial tubular shearing capability to the Company's line of pressure control equipment, including the capability to shear large drill pipe tool joints.

The Company's Drilling activities are carried out from a drilling rig. A drilling rig consists of approximately one or two derricks, the substructure that supports the derrick and the rig package, which consists of the various pieces of equipment. Rig Systems designs, fabricates and services derricks used in both onshore and offshore applications, and substructures used in onshore applications. Rig Systems also works with shipyards in the fabrication of substructures for offshore drilling rigs. The Company's Land Rig Packages designs, manufactures, assembles, upgrades and supplies equipment sets to a range of land drilling rigs, including rigs that are specifically designed to operate in environments, such as the Arctic Circle and the desert. Its land rig product names include the Drake Rig, Ideal Rig and Rapid Rig. The Company also provides equipment in integrated equipment packages for offshore drilling rigs.

Rig Aftermarket

The Company's Rig Aftermarket segment provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company's Rig Systems segment. The segment provides spare parts, repair and rentals, as well as technical support, field service and support, field engineering and customer training through a network of aftermarket service and repair facilities located in areas of drilling operations. The Company's Spare Parts Rig Aftermarket maintains an inventory of spare parts, manufactured by Rig Systems, across a network of aftermarket service and repair facilities. The Rig Aftermarket's Technical Support Centers troubleshoot and resolve equipment needs for customers. The Rig Aftermarket repairs, rebuilds and recertifies equipment to quality assurance and original equipment manufacturer (OEM).

The Company's eHawk Support Centers provides issue response times. eHawk Support Centers diagnoses equipment status and works to handle issues remotely, reducing service personnel visits to the field. eHawk utilizes Web-based applications to record, manage and resolve issues. The Rig Aftermarket Field Engineering supports customers by providing rig-specific designs, modifications and solutions as needed. These services include rig surveys, proposal and design drawings, service manuals and equipment installation. Its Rig Aftermarket Training Centers offers training for various equipment and technologies designed and manufactured by Rig Systems.

Wellbore Technologies

The Company's Wellbore Technologies segment sells and rents solids control equipment; and provides solids control, waste management and drilling fluids services. The segment designs, manufactures, rents and sells a range of equipment and technologies used to perform drilling operations, and offers services that optimize their performance, including solids control and waste management equipment and services; drilling fluids; portable power generation; premium drill pipe; wired pipe; drilling optimization and automation services; tubular inspection, repair and coating services; rope access inspection; instrumentation; measuring and monitoring; downhole and fishing tools; steerable technologies; hole openers, and drill bits. The Wellbore Technologies segment focuses on oil and gas companies and supports drilling contractors, oilfield service companies and oilfield rental companies. The Company designs, manufactures and sells a range of American Petroleum Institute (API) drill stem products used for the drilling of oil and gas wells. The Voest-Alpine Tubulars (VAT) is a joint venture between the Company and the Austria-based Voest-Alpine Group.

The Company develops, manufactures and applies its tubular coatings, known as Tube-Kote coatings, to new and used downhole tubulars and line pipe. The Tubular inspection techniques include electromagnetic, ultrasonic, magnetic flux leakage and gamma ray. Inspection services are provided by mobile units at the wellhead as used tubing is removed from a well, and at fixed site locations. The Company's Mill Systems and Sales' equipment is used for control purposes to detect defects in the pipe during the high-speed manufacturing process. The Company offers a range of machining services, including thread repair, tool joint rebuilding and sub manufacturing. The Company's Drilling and Intervention combines drilling and intervention tools with drilling, coring, borehole enlargement and other services. The Company manufactures fixed cutter and roller cone drill bits and services.

The Company Dynamic Drilling Solutions combines product lines that are focused on instrumentation, eTools for measuring, solutions used for monitoring, managed pressure drilling, and drilling automation and optimization. Dynamic Drilling Solutions generates, collects, aggregates, communicates and analyzes drilling data to its customers. The Company's Instrumentation business provides drilling rig operators real time measurement and monitoring of parameters required to improve rig safety and efficiency. Directional Sensors, Steering Tools, Magnetic Multi-shot Tools and Electromagnetic Measurement-While-Drilling Systems are offered by the Company's instrumentation business.

The Company offers equipment and services to separate and manage drill cuttings produced by the drilling process. It also provides drilling fluid systems, drilling fluid products, completion fluids and other related services. The Portable Power division provides rental generators, lighting and other accessories for use in the upstream oil and gas industry, refinery and petrochemical operations, construction sites, events, disaster relief and other industries. NOV IntelliServ is a joint venture between the Company and Schlumberger, Ltd. NOV IntelliServ manufactures wellbore data transmission products used to deliver communication up and down the drill string.

Completion & Production Solutions

The Company's Completion & Production Solutions segment provides technologies for well completions and oil and gas production. The segment designs, manufactures and sells equipment and technologies needed for hydraulic fracture stimulation. These include pressure pumping trucks and pumps, blenders, sanders, hydration units, injection units, flowline, manifolds and wellheads; well intervention, including coiled tubing units, coiled tubing, and wireline units and tools; offshore production, including composite pipe, process equipment, floating production systems and subsea production technologies, and onshore production, including surface transfer and progressive cavity pumps, positive displacement reciprocating pumps, pressure vessels and artificial lift system. The Company supports service companies and oil and gas companies.

The Company's Coiled tubing consists of flexible steel tubing manufactured in a continuous string and spooled on a reel. Coiled tubing is used with pressure control equipment, which permits the operator to perform work over operations on a live well. The Completion & Production Solutions segment manufactures and sells both coiled tubing units and the ancillary pressure control equipment used in these operations. The Company's wireline products include wireline drum units, which consist of a spool or drum of wireline cable, mounted in a mobile vehicle or skid, which works in conjunction with a source of power. The Company engineers and manufactures a range of pressure control equipment for wireline operations, including wireline blowout preventers, strippers, packers, lubricators and grease injection units. It also makes wireline rigging equipment, such as mast trucks and skidded masts for offshore rig-up.

The Company's stimulation products include fracturing pumpers, acid units, frac blenders, frac control systems, sand handling systems, combo units, hydration and chemical additive systems, as well as services and parts. It also designs and manufacturers Turret Mooring Systems and Spread Moored Systems, and other products for Floating Production, Storage and Offloading (FPSOs) and other offshore vessels and terminals. The Company designs and manufactures flexible pipe products and systems for the offshore oil and gas industry, including products associated with FPSO's and other offshore production platforms, as well as subsea production systems, including flexible risers, flowlines and jumpers.

The Company designs, manufactures and markets filament-wound and molded fiberglass pipe and fittings, as well as spoolable fiberglass pipe. These products are used by a range of petroleum, petrochemical and other industrial fluid and gas processing industries; for service station piping systems; aboard marine vessels, FPSOs and offshore oil platforms, and are marketed as an alternative to metallic piping systems. The Company's XL Systems product line offers a package of large-bore tubular products and services for offshore or deep onshore wells. This product line includes the Company's line of wedge thread connections on large-bore tubulars and related engineering and design services.

The Company serves its customers in various industrial and oil and gas markets by designing, manufacturing and distributing products, including pumping technologies (reciprocating, multistage surface and progressive cavity pumps), process equipment (dynamic oil recovery, water treatment, sand handling, separation and crude/gas handling), artificial lift solutions (stuffing boxes, drive heads, control boxes, polished rod accessories and hydraulic pumping units), mixing and agitation equipment, heat exchangers, pipeline products (closures, expanding gate valves and plug valves) and general oilfield products (critical service hookups, pumping tees and production BOP's). The Company designs, manufactures, and sells pumps and expendables that are used in oil and gas drilling operations, well service operations, production applications, as well as industrial applications. The Company's brand names are Wheatley, Gaso, National, Oilwell, MSW and Omega reciprocating pumps.

The Company competes with MHWirth, Aker Solutions, American Electric Technologies, American Block, AXON Energy Products, Bentec, Bomco, Nabors Industries, Cavins Oil Well Tools, Cameron International, Den-Con Tool Company, Forum Energy Technologies, General Electric, Hitec Products, Honghua, Huisman, Liebherr, Parveen Industries, Omron Corporation, Rolls Royce, Siemens, Stewart & Stevenson, Trevi Group, Seatrax, Tesco Corporation, Wartsila, Weatherford International, Sparrows Offshore, Subsea Solutions, Baker Hughes, Drill Pipe Masters, Frank's International, Future Pipe, Halliburton, Hanwei, Hilong, Patterson Tubular Services, Precision Tube, ShawCor, Schlumberger, Superior Energy Services, Texas Steel Conversion, Vallourec & Mannesmann, Circor International, ALS, Dover, Drilquip, FMC Technologies, GE Oil & Gas, Modec, SBM Offshore, Technip, Roper Industries and Weir Group.

Company Address

National Oilwell Varco Inc

HOUSTON   TX   77036
P: +1713.3753700
F: +1302.6555049

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