National Oilwell Varco
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| Type | Public |
|---|---|
| Traded as | NYSE: NOV S&P 500 Component |
| Industry | Oil Well Services & Equipment |
| Founded | 1862, Houston, Texas |
| Headquarters | Houston, Texas |
| Key people | Chairman of the Board, President and Chief Executive Officer: Pete Miller |
| Products | Oil Field Products & Services |
| Revenue |  US$12.693 Billion (FY 2010)[1] |
| Operating income | US$2.447 Billion (FY 2010)[1] |
| Net income | US$1.667 Billion (FY 2010)[1] |
| Total assets | US$23.050 Billion (FY 2010) [2] |
| Total equity | US$15.748 Billion (FY 2010)[2] |
| Employees | 48,227 (2011) |
| Website | http://www.nov.com/ |
National Oilwell Varco (NOV) is a multinational corporation based in Greater Sharpstown, Houston, Texas,[3][4] which manufactures land-based and offshore oil drilling rigs as well as all the major mechanical components for such rigs. The company also performs a number of services for the oil industry such as well and pipeline inspections and is one of the market leaders in supply chain management through their distribution network of over 700 locations. They are a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.
Products include all the heavy hardware for oil well drilling as well as drilling instrumentation and controls and drilling power generation and control. Partial list of heavy hardware includes topdrives, rotarys, drawworks, derricks, BOP's (blowout preventers), mud pumps, riser equipment, and complete drilling rigs. Products also include instruments and controls required on the rig floor for the drilling operation. This includes sophisticated electronics for precise control. Cyberbase is a such sophisticated control system. Further, NOV produces control electronics for power generation and control of drilling motors, and MCC's (motor control centers) for AC motor control.
In 2008, the Houston Chronicle ranked National Oilwell Varco as the best company in Greater Houston, in 2007 the newspaper ranked National Oilwell Varco number 15.[5]
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[edit] History
National Oilwell's two main predecessors, Oilwell Supply and National Supply, were founded in 1862 and 1893, respectively. These two companies manufactured and distributed a number of components for the oil drilling industry including drawworks, mud pumps and derricks.
Varco was founded as Abegg and Reinhold Company by Walter Abegg and Baldwin Reinhold in 1908, renaming to Vuilleumiere, Abegg and Reinhold Company, Varco in 1915 due to invovement of Edgar Vuilleumiere and then renaming to Varco International in 1973.
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.
In 2005, National Oilwell and Varco merged to become National Oilwell Varco.
The company now employs over 32,000 people[6] and has over 700 facilities worldwide.
[edit] Brands and Products
[edit] See also
[edit] References
- ^ a b c National-Oilwell Varco (NOV) annual income statement for SEC filing via Wikinvest
- ^ a b National-Oilwell Varco (NOV) annual balance sheet for SEC filing via Wikinvest
- ^ "Contact Us." National Oilwell Varco. Retrieved on February 5, 2010. "7909 Parkwood Circle Dr. Houston, TX 77036"
- ^ "Districts." Greater Sharpstown Management District. Retrieved on August 15, 2009.
- ^ Cook, Lynn. "CHRONICLE 100 No. 1: National Oilwell Varco: builder of rigs, maker of deals." Houston Chronicle. May 16, 2008. Retrieved on July 10, 2011.
- ^ "Yahoo Finance: NOV."
