NOV: Acquires Fjords Processing for NOK 1,200m from Akastor
Akastor ASA, an oil service investment company, has entered into a definitive agreement to sell Fjords Processing to National Oilwell Varco for a consideration of NOK 1,200 million on a debt- and cash-free basis. Fjords is a global leader in complete process support systems for gas, oil and water, and …
National Oilwell Varco: Reduces Quarterly Dividend to $0.05 per Share
National Oilwell Varco, Inc. (NYSE:NOV) announced today that its Board of Directors has approved a plan to reduce the Company’s quarterly dividend to $0.05 per share in response to market conditions which continued to deteriorate through the first quarter of 2016. Clay Williams, Chairman, President and CEO, commented, “We believe …
National Oilwell Varco: Jim Hackett Appointed to the Company’s Board of Directors
National Oilwell Varco, Inc. announced today that Jim Hackett has been appointed to the company’s board of directors effective April 5, 2016. Clay C. Williams, Chairman, President and CEO of National Oilwell Varco, stated, “It is with great pleasure that I welcome Jim Hackett to our board of directors. Jim’s …
NOV Clay Williams: Primed But Patient to Pull Acquisition Trigger
After slowing down its M&A machine considerably over the past two years, National Oilwell Varco Inc. is looking at acquisitions in the billion-dollar range reported Bloomberg. – Co. has $2.1 billion cash, $3.6 billion undrawn on revolver – Need to be patient, make sure getting good value: Williams The largest …
NOV: Launches RIGSENTRY – A New Monitoring Service for Predicting Operational Failures in Subsea BOPs
National Oilwell Varco, Inc. announced today that it has developed and validated the first end-to-end predictive solution that can foresee operational failures in subsea blowout preventer (BOP) components. RIGSENTRY™ now offers a remote condition monitoring service that provides live predictive analytics of subsea BOPs. This predictive feature is the result …
National Oilwell Varco: Scott Duff Named Interim CFO
National Oilwell Varco, Inc. today announced that Jeremy D. Thigpen has informed the Company of his resignation as Senior Vice President and Chief Financial Officer, in order to become Chief Executive Officer of Transocean, one of NOV’s largest customers. Scott K. Duff, NOV’s Vice President and Chief Accounting Officer has …
National Oilwell Varco Announces Fourth Quarter and Full Year 2014 Earnings
National Oilwell Varco, Inc. today reported that for its fourth quarter ended December 31, 2014, it earned net income from continuing operations of $595 million, or $1.39 per fully diluted share, compared to net income from continuing operations of $699 million, or$1.62 per fully diluted share in the third quarter …
NOV Completes NOW Spin Off
National Oilwell Varco, Inc. today announced that it has completed the spin off to its stockholders of its distribution business as an independent public company,NOW Inc. (“NOW”). “This action demonstrates National Oilwell Varco’s commitment to provide long-term value to our stockholders,” said the Company’s Chairman and CEO Clay C. Williams. “With its …
NOV: Nearly Doubles Quarterly Dividend
National Oilwell Varco, today announced that its Board of Directors has approved an increase in the regular quarterly cash dividend to $0.46 per share of common stock from $0.26 per share of common stock, payable on June 27, 2014 to each stockholder of record on June 13, 2014. The Company …
National Oilwell Varco Announces Election of Clay Williams as President & Chief Executive Officer
National Oilwell Varco, Inc. announced today that Clay C. Williams has been appointed President and Chief Executive Officer of the Company effective immediately. The Company has previously announced that Merrill A. “Pete” Miller, Jr. would step down as Chairman and Chief Executive Officer contemporaneous with the completion of its announced …