Profile: National Oilwell Varco Inc (NOV.N)
26 May 2017
National Oilwell Varco, Inc. (NOV), incorporated on July 14, 1995, is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The 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 Aftermarket segment provides aftermarket products and services to support an installed base of land and offshore rigs, and drilling rig components manufactured by the Company's Rig Systems segment. The Wellbore Technologies segment designs, manufactures, rents and sells a range of equipment and technologies used to perform drilling operations. The Completion & Production Solutions segment integrates technologies for well completions and oil and gas production.
The Rig Systems segment designs, manufactures and sells land rigs, offshore drilling equipment packages and drilling rig components that mechanize and automate various complex rig processes. Its equipment and technologies in Rig Systems include power transmission systems, like drives and generators; substructures, derricks, and masts; pipe lifting, racking, rotating, and assembly systems; pressure control equipment, including blowout preventers (BOPs); cranes, and rig instrumentation and control systems. It offers TDS Top Drive Drilling System. The 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 buys motors from third parties and builds them in its own facilities and is developing motor technology, including the introduction of permanent magnet drilling motors for use in top drives, cranes, mud pumps, winches and drawworks. It produces rotary tables, as well as kelly and master bushings. 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. Rig Systems 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 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) back to the surface. Hoisting systems are used to raise or lower the drill stem while drilling or tripping, and to lower casing into the wellbore. NOV provides a range of crane solutions, with purpose-built products for all segments of the oil and gas industry, as well as various other markets. The Company has a collection of crane brand names with international recognition, and a staff of engineers specializing in the design of cranes and related equipment. It offers AHD Drawworks, which eliminates weight, and removes the compensator from the top of the rig and integrating it into the drawworks system. In addition to the AHD Drawworks, the Company offers Active Heave Compensation (AHC).
The Company's BOPs are devices used to seal the space between the drill pipe and the borehole and, if necessary, to also shear the drill pipe itself to prevent blowouts (uncontrolled flows of formation fluids and gases to the surface). Rig Systems manufactures a range of BOPs used in various applications from deepwater offshore vessels to land rigs. 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 designs, manufactures, assembles, upgrades and supplies equipment sets to a range of land drilling rigs, including those specifically designed to operate in harsh environments, such as the Arctic Circle and the desert. Its land rig product names include the Ideal Rig, Drake Rig and Rapid Rig. Rig Systems sells directly to drilling contractors, rig fabricators, well servicing companies, pressure pumping companies, national oil companies, and also through distribution companies.
The Rig Aftermarket segment provides spare parts, repair and rentals, as well as technical support, field service and first well support, field engineering and customer training through a network of aftermarket service and repair facilities strategically located in various areas of drilling operations.
Spare Parts. Rig Aftermarket's Technical Support Centers troubleshoot and resolve equipment needs for customers. Field service engineers support rig equipment and technologies on location. Rig Aftermarket overhauls, repairs, rebuilds and recertifies equipment. Its eHawk Support Centers provide issue response times. Using satellite and computer technology, eHawk Support Centers can diagnose equipment status and work to handle issues remotely, reducing service personnel visits to the field. eHawk utilizes Web-based applications to record, manage and resolve issues. Rig Aftermarket Field Engineering supports customers by providing rig-specific designs, modifications, and solutions as needed. Rig Aftermarket Training Centers offering training for all equipment and technologies designed and manufactured by Rig Systems.
The Wellbore Technologies segment focuses on oil and gas companies and supports drilling contractors, oilfield service companies, and oilfield rental companies. Its technologies and services include drilling optimization and automation services, instrumentation, measuring and monitoring systems; drill bits; downhole tools, like downhole drilling motors and other steerable technologies; solids control and waste management equipment and services; drilling fluids; premium drill pipe, wired pipe and drill string accessories; tubular inspection, repair and coating services; fishing tools and hole openers, and portable power generation. The Company designs, manufactures and sells a range of premium and American Petroleum Institute (API) drill stem products used for the drilling of oil and gas wells, including drill pipe, heavy-weight drill pipe, drill collars, drill subs and accessories. The Company offers a line of drilling products designed for the drilling of extended reach, directional, horizontal, deepwater and ultra-deep wells in both international and domestic markets.
The Company develops, manufactures and applies its tubular coatings, known as Tube-Kote coatings, to new and used drill pipe products and line pipe. The Company also offers other corrosion solutions, such as fiberglass lined tubing for wells used for injection or enhanced oil recovery. The Company engineers and fabricates inspection equipment for steel mills, which it sells and rents. The Company designs, manufactures and services a range of downhole drilling tools and offers various components for a bottom hole assembly (BHA). The Company designs, manufactures and services fixed cutter and roller cone drill bits. The Company manufactures a range of borehole enlargement tools to produce enlarged wellbores that bring production online faster. The Company also sells and rents an offering of fishing and thru-tubing tools to perform retrieval of stuck tools, remove debris, mill bridge plugs and similar devices. Through its Coring Services business line, the Company enables the extraction of actual rock samples from a drilled well bore and allows geologists to examine the formations at the surface.
The Company's Dynamic Drilling Solutions business combines product lines that are focused on drilling instrumentation and visualization solutions, data communication support, well monitoring, drilling performance software, directional measurement sensors and systems, and drilling automation and optimization. Dynamic Drilling Solutions generates, collects, aggregates, communicates, and analyzes drilling data to provide its customers solutions for their well environments. The Company's measurement and monitoring systems combine hardware and software technologies (both at the surface and in the wellbore) into an integrated drilling rig package. Its eVolve service is a technology offering designed to optimize drilling operations. The Company offers equipment and services to separate and manage drill cuttings produced by the drilling process (Solids Control). It is engaged in the provision of drilling fluids, completion fluids and other related services. The Company 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.
Completion & Production Solutions
The Company's Completion & Production Solutions segment designs, manufactures and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping trucks, blenders, sanders, hydration units, injection units, flowline, manifolds, wellheads and completion tools; 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 systems. Completion & Production Solutions supports service companies and oil and gas companies. Coiled tubing consists of steel tubing manufactured in a continuous string and spooled on a reel. The Completion & Production Solutions segment manufactures and sells both coiled tubing units and the ancillary pressure control equipment used in these operations. Its 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 (an engine mounted in the vehicle or within a separate power pack skid). The wireline drum unit is used to spool wireline cable into or out of a well, in order to perform surveys inside the well, sample fluids from the bottom of the well, retrieve or replace components from inside the well, or to perform other well remediation or survey operations.
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. Additionally, the Company makes wireline rigging equipment, such as mast trucks, and skidded masts for offshore rig-up. Its stimulation products include fracturing pumpers, acid units, blenders, control systems, sand handling systems, combo units, hydration and chemical additive systems as well as services and parts. Additionally, the Company sells, services, and rents portable flow line and well testing equipment. The Company 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. It 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 provides equipment required for Subsea Production including subsea water injection treatment systems, subsea storage units, tie-in connector systems, active and passive cooling systems, subsea automatic pig launchers, pig tracking systems and weak-links for controlled disconnection on the seabed. 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, which can fail under corrosive operating conditions. The Company's Fiberspar business manufactures and sells fiberglass-reinforced spoolable pipe to the oil and gas industry, which provides a corrosion-resistant solution for the production and transportation of oil and gas. Additionally, the Company manufactures vessels, chambers, structures, and other bespoke components from composite materials allowing for a fit and forget solution across a range of user applications, both onshore and offshore.
The Company's XL Systems product line offers the customer an integrated 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 markets by designing, manufacturing and distributing integrated solutions and discrete products, including wellstream processing systems (dynamic oil recovery, water treatment, phased separation, hydrate inhibition, and gas processing) pumping technologies (reciprocating, multistage and progressive cavity pumps), chokes, midstream products (closures, transfer pumps and valves), artificial lift systems (stuffing boxes, drive heads, PCP, control boxes, polished rod accessories, and hydraulic pumping units), mixing and agitation equipment, heat exchangers, and other 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. These pumps include reciprocating positive displacement piston and plunger pumps and high pressure mud pumps. The Company designs, manufactures and installs well completion tools that are primarily focused on the Horizontal Multi-Stage Fracturing (HMSF) market.
The Company competes with MHWirth, Aker Solutions, American Electric Technologies, American Block, AXON Energy Products, Bentec, Bomco, Nabors Industries, Cavins Oil Well Tools, Schlumberger, Ltd., Den-Con Tool Company, Forum Energy Technologies, General Electric, Hitec Products, Honghua, Huisman, Liebherr, Parveen Industries, Rolls Royce, Siemens, Stewart & Stevenson, Trevi Group, Seatrax, Sparrows Offshore, Subsea Solutions, Tesco Corporation, Wartsila, Weatherford International, Baker Hughes, Drill Pipe Masters, Frank's International, Future Pipe, Halliburton, Hanwei, Hilong, Patterson Tubular Services, Precision Tube, ShawCor, Superior Energy Services, Texas Steel Conversion, Vallourec & Mannesmann, Circor International, ALS, Dover, Drilquip, FMC Technologies, GE Oil & Gas, Technip, Roper Industries and Weir Group.
National Oilwell Varco Inc
7909 PARKWOOD CIRCLE DR
HOUSTON TX 77036
Company Web Links
- BRIEF-National Oilwell announces joint venture with Saudi Aramco
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- BRIEF-NATIONAL OILWELL VARCO REPORTS Q4 LOSS PER SHARE $1.90