NOV Inc.

National Oilwell Varco Inc. announced today that during its regularly-scheduled meeting, the Board of Directors elected to suspend the Company’s quarterly dividend until further notice. “With the view that capital is becoming increasingly scarce and valuable within our industry, we believe that it is in the best long-term interest of NOV’s shareholders to suspend our dividend,” commented Clay Williams, Chairman [...]

National Oilwell Varco Inc. today reported first quarter 2020 revenues of $1.88 billion, compared to $2.28 billion for the fourth quarter of 2019 and $1.94 billion for the first quarter of 2019. Net loss for the first quarter of 2020 was $2.05 billion, which included non-cash, pre-tax charges of $2.25 billion. Adjusted EBITDA decreased $110 million sequentially to $178 million. “NOV is persevering through a pandemic that [...]

National Oilwell Varco Inc. today announced the retirement of Hege Kverneland, the Company’s Corporate Vice President and Chief Technology Officer, effective April 17, 2020. David Reid has been named as Ms. Kverneland’s successor. Ms. Kverneland joined NOV through the acquisition of Hitec in 1999. Starting in 2001, Ms. Kverneland worked as the Company’s Corporate R&D manager until she was promoted to Chief Technology [...]

Mr. Workman will lead the Company in its next phase of growth PSS Industrial Group , a leading specialty distributor serving a diverse base of customers in the energy industry, today announced that Robert Workman has been named Chief Executive Officer and a member of the Board of Directors , effective immediately. Robert Workman was President, CEO & Director of DistributionNOW from 2014 to 2019, a spinoff that he led of [...]

National Oilwell Varco Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on March 27, 2020 to each stockholder of record on March 13, 2020. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field drilling, completion, and [...]

National Oilwell Varco Inc. will hold a conference call to discuss its first quarter 2020 results on Tuesday, April 28, 2020 at 10 a.m. . NOV will issue a press release with the Company’s results after the market closes for trading on Monday, April 27, 2020. The call will be webcast live on www.nov.com/investors. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the [...]

National Oilwell Varco Inc. today reported fourth quarter 2019 revenues of $2.28 billion, an increase of seven percent compared to the third quarter of 2019 and a decrease of five percent compared to the fourth quarter of 2018. Net loss for the fourth quarter was $385 million, which included non-cash, pre-tax charges of $537 million. Adjusted EBITDA increased $26 million sequentially to $288 million, or 12.6 percent of [...]

National Oilwell Varco Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on December 20, 2019 to each stockholder of record on December 6, 2019. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field drilling, completion [...]

National Oilwell Varco Inc. will hold a conference call to discuss its fourth quarter and full-year 2019 results on Friday, February 7, 2020 at 10 a.m. . NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, February 6, 2020. The call will be webcast live on www.nov.com/investors. About NOV National Oilwell Varco is a leading provider of technology, equipment, and [...]

National Oilwell Varco Inc. today announced that it issued a notice to redeem a portion of its 2.60% senior notes due December 2022; priced a new underwritten public offering of $500 million of senior unsecured notes due December 2029; and announced the completion of an amendment that includes the extension of the maturity date of its credit agreement. “We are pleased to announce this series of transactions that [...]