National Oilwell Varco Reports Fourth Quarter and Full Year 2016 Results
National Oilwell Varco, Inc. today reported a fourth quarter 2016 net loss of $714 million, or $1.90 per share. Excluding other items, net loss for the quarter was $57 million, or $0.15 per share. Other items totaled $706 million, pretax, and were primarily associated with inventory charges, facility closures, and severance. Revenues for the fourth quarter of …
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 …
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 …
NOV Kostroma: Launches Production
On the 9th of March NOV Kostroma opened their brand new manufacturing and production facility in Volgorechensk City in the Kostroma Region. NOV have spent heavily investing in the new site, spending $115m USD to bring the centre on stream. Operating with a team of 200 personnel. The site is …
RDCR: Four Weeks To Go Until the Largest Drilling Event in Russia – BOOK NOW!
Derrick Equipment Company and Step Oiltools Confirm Silver Sponsor at the 4th RDCR As a long-time supporter of the RDCR, we are pleased to confirm that Derrick Equipment Company and Step Oiltools attending the 4th RDCR as a Silver Sponsor. Derrick Equipment will be presenting as follows – “Reducing Drilling …
NOV: To Pay $0.46 per Share of Common Stock in Quarterly Dividend
National Oilwell Varco, Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.46 per share of common stock, payable on March 25, 2016 to each stockholder of record on March 11, 2016. National Oilwell Varco is a worldwide leader in the design, …
National Oilwell Varco Announces Fourth Quarter and Full Year 2015 Earnings
National Oilwell Varco, Inc. (NYSE:NOV) today reported fourth quarter 2015 net income of $85 million, or $0.23 per fully diluted share, excluding other items, down from $0.61 in the third quarter of 2015 on a comparable basis. Other items included pre-tax charges of $1,634 million for goodwill and other intangible asset write-downs, $139 million for restructuring and other charges (which …
National Oilwell Varco Declares Regular Quarterly Dividend
National Oilwell Varco, Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.46 per share of common stock, payable on September 25, 2015 to each stockholder of record on September 11, 2015. National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used …