- CEO
- Jose A. Bayardo
- Full Time Employees
- 34,010
- Sector
- Energy
- Industry
- Oil & Gas Equipment & Services
- Address
- 7909 Parkwood Circle Drive Houston TX United States of America 77036-6565
- IPO Date
- Oct 29, 1996
- Business
- NOV Inc. (NYSE: NOV) provides comprehensive equipment, technologies, and services for oil and gas drilling, production, and energy transition applications worldwide. Headquartered in Houston, Texas, and founded through mergers tracing back to 1862 with key establishment in 1995, the company operates over 550 facilities across six continents, serving upstream, midstream, and industrial markets with approximately 33,000 employees. NOV structures its offerings through two primary reporting segments: Energy Products and Services, which encompasses drill bits, borehole enlargement tools, directional drilling systems, downhole tools, premium drill pipe, solids control equipment, drilling fluids, managed-pressure-drilling systems, coating services, and wired drill pipe technologies like IntelliServ; and Energy Equipment, including rig equipment, completion tools, artificial lift systems, subsea production systems, flexible pipe, pressure pumping equipment, coiled tubing, wireline intervention tools, composite piping, hydrate inhibition technologies, and aftermarket services such as spare parts, repairs, rentals, remote monitoring, field support, and training. The company also delivers specialized solutions in artificial lift, carbon capture, composite materials, digital optimization, flowback, geothermal, hydrogen, industrial products, lithium extraction, offshore construction and production, onshore wind towers, saltwater disposal, stimulation, well completions, construction, and control under brands including Grant Prideco, ReedHycalog, GustoMSC, Bowen, BRANDT, MISSION, and Mono pumps.
In recent developments, NOV secured multiple high-value contracts in 2025, including a monoethylene glycol reclamation system for a Black Sea FPSO, flexible riser and flowline systems for projects in Guyana, Brazil, and the Black Sea featuring its Active Heated riser technology, and a second APL Submerged Swivel and Yoke system order for Argentina's FLNG development, alongside expanding orders for FLNG and FSRU modules. These wins bolster a record-high backlog in subsea flexible pipe, FPSO systems, and mooring solutions, positioning NOV for offshore and deepwater growth amid rising global demand. The company anticipates margin expansion in 2025 through higher-quality backlog, operational efficiencies, digital solutions, automation adoption, and strategic focus on energy transition technologies, following 2024 full-year revenues of $8.87 billion and EBITDA of $1.1 billion, despite projecting a 5-7% revenue dip in Q4 2025. Previously known as National Oilwell Varco until its rebranding to NOV Inc. in 2021, the firm continues to innovate in sustainable energy segments like biogas, CCUS, offshore wind, and rig repurposing.