NOV Inc. Overview
Company Headquarters: United States
Founded: 1862
Workforce: ~ 27,043 (Global)
Company Working: NOV Inc. (NOV or 'the company'), formerly, National OilWell Varco Inc, is a provider of technology and equipment to the oil and gas industry. The company conducts operations in approximately 552 locations across six continents. It owns and leases 137 engineering, sales and administration facilities, 109 service centers and 306 repair and manufacturing facilities. The company serves national and independent service companies, oil and gas operators and contractors in 61 countries worldwide. NOV operates its business through three reportable business segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment supports the integrated systems and capital equipment, which are used to drill oil and gas wells on land and offshore. It also designs, manufactures and sells land rigs, offshore drilling equipment packages, such as installation and commissioning services, and drilling rig components which mechanize and automate the drilling process and rig functionality. NOV's rig system segment's equipment and technologies include derricks, substructures, and masts; jacking systems; cranes; rotating, and assembly systems, pipe lifting, racking; fluid transfer technologies, such as mud pumps; power transmission systems, including drives and generators; and rig instrumentation and control systems; pressure control equipment, including blowout preventers. It operates manufacturing facilities in New Iberia, Louisiana; Orange, California; Houston, Texas; Dubai, UAE; and Singapore. As of December 2021, it had order backlog of US$2.8 billion. In FY2021, the Rig Technologies segment reported revenue of US$1,739 million, which accounted for 30.7% of the company’s revenue. NOV's Wellbore Technologies segment designs, manufactures, sells and rents various equipment and technologies used for drilling operations. It also offers services that optimize their performance, including solids control and waste management equipment and services, drill pipe, wired pipe, tubular repair, inspection and coating services, fishing and downhole tools, instrumentation and drill bits. The segment serves oil and gas companies and supports oilfield equipment rental companies, drilling contractors and oilfield service companies. It operates manufacturing facilities in Veracruz, Mexico; Houston, Navasota, Conroe, and Cedar Park, Texas; and Dubai, UAE. In FY2021, the Wellbore Technologies segment reported revenue of US$1,959 million, which accounted for 34.6% of the company’s revenue. The Completion and Production Solutions segment integrates technologies for oil and gas production and well completions. It designs, manufactures, and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping trucks, sanders, blenders, hydration units, flow line, manifolds, and injection units. It also manufactures well intervention products, including coiled tubing, coiled tubing units and wireline units and tools; and onshore production systems, including surface transfer, composite pipe, and progressive cavity pumps, and artificial lift systems. In addition, the company supplies offshore production systems, including floating production systems and subsea production technologies. The segment also supports oil and gas companies and service companies. It operates manufacturing facilities in Tulsa, Oklahoma; Houston, and Fort Worth, Texas; Qingdau, Shandong, China; Aberdeenshire, Scotland, UK; Senai, Malaysia; Kalundborg, Denmark; Manchester, England; and Superporto du Acu, Brazil. As of December 2021, it had order backlog of US$1.3 billion. In FY2021, the Completion and Production Solutions segment reported revenue of US$1,963 million, which accounted for 34.7% of the company’s revenue. Geographically, the company classifies its operations into 11 regions: the US, Norway, Singapore, Saudi Arabia, the UK, China, Brazil, Canada, the UAE, South Korea, and Other Countries. In FY2021, the US accounted for 31.9% of the company’s revenue, followed by Norway (6.6%), Singapore (2.6%), Saudi Arabia (5.7%), the UK (3.7%), China (4%), Brazil (5.7%), Canada (3.7%), the UAE (2.4%), South Korea (0.6%), and Other Countries (33.1%).
