Nov
A Houston-based global provider of equipment, technologies, components, and services for oil and gas drilling, well construction, completion, production, and related industrial operations.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
NOV Inc., formerly National Oilwell Varco, is a United States-based multinational supplier to the upstream oil and gas industry. Its products and services support the full well life cycle, from drilling-rig design and construction through wellbore management, completion, intervention, production, maintenance, and equipment modernization. The company also supplies technologies used in offshore construction and selected industrial and energy applications. The modern company was formed in 2005 through the merger of National Oilwell and Varco. Its industrial heritage is considerably older. Oilwell Supply, one of National Oilwell's predecessors, dates to 1862, while National Supply was founded in 1893. Both businesses manufactured or distributed equipment such as pumps and derricks. Varco traces its history to the Abegg and Reinhold Company, established in 1908. The Varco name originated from the initials of Vuilleumiere, Abegg and Reinhold after Edgar Vuilleumiere joined the business, and the company later became Varco International. National Oilwell's development also included the 1987 combination of National Supply and USS Oilwell, followed by the 2000 merger with IRI International. IRI incorporated the oilfield-products activities of Ingersoll Rand and IDECO, bringing additional drilling-rig and specialty-steel capabilities into the organization. The 2005 National Oilwell–Varco merger created a broad equipment platform with strong positions in drilling systems, rig equipment, downhole technology, and completion and production products. NOV expanded through acquisitions as drilling technology became more complex and customers sought integrated equipment packages. Its 2008 acquisition of Grant Prideco added a major drill-pipe and drill-bit business, including IntelliServ wired drill pipe, ReedHycalog drill bits, and XL Systems connectors. The company later acquired Russian coring specialist Interval, Dutch offshore-rig designer GustoMSC, and composite-pipe and tank fabricator Ershigs. These transactions strengthened NOV's capabilities in wellbore data, offshore engineering, drilling components, composite systems, and specialized equipment. The business is organized around major technology areas commonly identified as Rig Technologies, Wellbore Technologies, and Completion & Production Solutions. Rig Technologies supplies land and offshore drilling rigs, top drives, drawworks, mud pumps, blowout preventers, risers, pipe-handling systems, power and control equipment, and marine construction systems. Wellbore Technologies covers drill bits, directional drilling, downhole tools, drilling fluids, solids control, managed-pressure drilling, data acquisition, automation, wired drill pipe, and related services. Completion & Production Solutions serves pressure pumping, coiled tubing, wireline, artificial lift, processing, composite structures, subsea systems, connectors, completion tools, and safety equipment. NOV operates through a large international network of manufacturing, service, engineering, and distribution locations across six continents. Its customers include drilling contractors, exploration and production companies, oilfield service providers, offshore developers, and industrial operators. The company earns revenue from both capital equipment and recurring aftermarket activities such as spare parts, repair, rentals, field service, software, inspection, training, and equipment monitoring. On January 1, 2021, National Oilwell Varco changed its corporate name to NOV Inc., reflecting the shorter name already used in the market. NOV remains listed on the New York Stock Exchange under the symbol NOV. Its performance is closely linked to drilling and completion activity, offshore and onshore capital spending, commodity-price expectations, fleet utilization, and the longer-term transition in the energy sector. The company presents itself primarily as a technology and equipment partner rather than as an oil or gas producer.
History
NOV's history combines several nineteenth- and twentieth-century oilfield-equipment businesses. Oilwell Supply was established in 1862 and National Supply in 1893. Both companies became associated with the manufacture and distribution of pumps, derricks, and other equipment used in drilling and production. Oilwell Supply was acquired by United States Steel in 1930, while National Supply merged with Armco Steel in 1958. In 1987, National Supply and USS Oilwell were combined to create National Oilwell. A further step came in 2000, when National Oilwell merged with IRI International. IRI had been built around oilfield-products operations associated with Ingersoll Rand and IDECO, the International Derrick and Equipment Company. This merger contributed drilling-rig manufacturing, specialty steel, and related engineering capabilities. The other major predecessor, Varco, began in 1908 as the Abegg and Reinhold Company. Edgar Vuilleumiere joined Walter Abegg and Baldwin Reinhold in 1915, giving rise to the VARCO name. The organization became Varco International in 1973. Its activities centered on drilling equipment and related oilfield technologies. National Oilwell and Varco merged in 2005. The resulting company, National Oilwell Varco, combined rig equipment, drilling components, downhole technologies, and production-related products under one publicly traded organization. The merger established the broad platform that later supported NOV's expansion into integrated systems and aftermarket services. A major acquisition occurred in 2008, when NOV purchased Grant Prideco. Grant Prideco was a significant manufacturer of drill pipe and drill bits. The transaction also brought IntelliServ, ReedHycalog, and XL Systems into the NOV portfolio. IntelliServ developed wired drill pipe capable of transmitting downhole information to surface systems; ReedHycalog specialized in drill bits; and XL Systems produced connectors for oil and gas applications. These businesses were allocated across NOV's wellbore and completion-related activities. NOV continued to broaden its portfolio during the following decade. It acquired Interval Ltd., a Russian coring company, in 2012. In 2018, it purchased GustoMSC, a Dutch engineering company known for offshore drilling-rig design and marine technologies. In late 2019, NOV acquired Ershigs, a Washington-based fabricator of custom composite pipes and tanks. The company reorganized its activities into major technology groupings. Rig Technologies covers land and offshore rigs, drilling equipment packages, marine construction systems, and associated service and aftermarket work. Wellbore Technologies focuses on drill bits, directional drilling, downhole tools, fluids, solids control, drilling data, automation, and managed-pressure systems. Completion & Production Solutions addresses pressure pumping, coiled tubing, wireline, artificial lift, processing, subsea systems, composite products, connectors, completion tools, and safety equipment. On January 1, 2021, the corporate name changed from National Oilwell Varco to NOV Inc. The shortened name reflected the company's established market identity. NOV is headquartered in Houston and operates through a global network of facilities serving customers on six continents. Its business remains exposed to cycles in oil and gas exploration, drilling, offshore construction, production investment, and equipment utilization, while its technology portfolio also provides applications in marine and broader industrial markets.
- 2021
Corporate name changes to NOV Inc.
[1]National Oilwell Varco adopts NOV Inc. as its legal corporate name.
- 2019
Ershigs acquisition
[1]NOV acquires Ershigs, a fabricator of custom composite pipes and tanks.
- 2018
GustoMSC acquisition
[1]NOV purchases Dutch offshore-rig design company GustoMSC.
- 2012
Interval acquisition
[1]NOV acquires Russian coring company Interval Ltd.
- 2008
Grant Prideco acquisition
[1]NOV acquires Grant Prideco and adds drill pipe, drill bits, wired drill pipe, and connectors.
- 2005
National Oilwell and Varco combine
[1]The merger forms National Oilwell Varco and creates an integrated oilfield-equipment supplier.
- 2000
National Oilwell merges with IRI International
[1]The combination adds drilling-rig and specialty-steel capabilities associated with IDECO and Ingersoll Rand oilfield products.
- 1987
National Oilwell is formed
[1]National Supply merges with USS Oilwell, creating National Oilwell.
- 1908
Varco predecessor is established
[1]Walter Abegg and Baldwin Reinhold establish the Abegg and Reinhold Company, the origin of Varco.
- 1893
National Supply is founded
[1]National Supply is established as another predecessor involved in pumps, derricks, and related equipment.
Products and positioning
A global, technology-focused oilfield equipment and services provider spanning drilling, wellbore construction, completion, production, offshore engineering, and aftermarket support.
Drilling rigs and offshore systems
Rig Technologies
Rig Technologies supplies land and offshore drilling rigs and the major systems used to operate them, including top drives, drawworks, iron roughnecks, mud pumps, blowout preventers, risers, pipe-handling equipment, power systems, and controls. The group also provides marine construction equipment such as heavy-lift cranes, mooring systems, jacking systems, pipelay and cablelay equipment, and marine-riser tensioners. Services include spare parts, repairs, rentals, remote monitoring, field support, training, and technical assistance.
Drilling and wellbore technologies
Wellbore Technologies
Wellbore Technologies covers the tools and services used to construct, monitor, and optimize a wellbore. Its portfolio includes drill bits, directional-drilling tools, borehole-enlargement systems, downhole intervention equipment, premium drill pipe, drilling fluids, solids-control and waste-management systems, managed-pressure-drilling technology, automation and optimization software, data acquisition, inspection, coatings, RFID tracking, and IntelliServ wired drill pipe.
Completion, production, and intervention equipment
Completion & Production Solutions
Completion & Production Solutions supplies equipment for preparing wells for production and supporting their operating life. Products and technologies include pressure-pumping, coiled-tubing and wireline equipment, completion tools, liner hangers, subsurface safety valves, multistage-fracturing systems, artificial-lift equipment, processing and pumping systems, hydrate-inhibition and gas-processing technologies, composite pipes and vessels, subsea and floating-production systems, water-injection equipment, and oilfield connectors.
Drill string products · 2008
Grant Prideco drill pipe and drill bits
Added through the Grant Prideco acquisition, this product family includes premium drill pipe, drill bits, and associated drill-string technologies. The portfolio was combined with NOV's broader wellbore activities and complemented by IntelliServ wired drill pipe, ReedHycalog bits, and XL Systems connectors.
Offshore engineering · 2018
GustoMSC offshore engineering
GustoMSC contributes offshore-rig design and marine engineering expertise to NOV. Its capabilities support the design of offshore drilling units and related marine systems, strengthening NOV's ability to provide integrated engineering and equipment packages for offshore contractors and developers.
Brand decisions
2021
Adopt NOV Inc. corporate nameStrategyBackground
The company had long been known commercially by the NOV abbreviation, which provided a shorter identity for a multinational business with a broad technology portfolio.
Action taken
National Oilwell Varco changed its corporate name to NOV Inc. on January 1, 2021.
Aftermath
The company retained the NOV market identity and continued trading on the New York Stock Exchange under the ticker NOV.
2008
Acquire Grant PridecoM&ABackground
Grant Prideco was a major supplier of drill pipe and drill bits, with related businesses in wired drill pipe and oilfield connectors.
Action taken
NOV acquired Grant Prideco and integrated its subsidiaries into NOV's wellbore and completion-related operations.
Aftermath
NOV broadened its drill-string, downhole-data, drill-bit, and connector portfolio.
Reported acquisition value. $7.37 billion (2008)
2005
Merge National Oilwell with VarcoM&ABackground
Both companies had substantial positions in drilling equipment and oilfield technologies, creating an opportunity to combine complementary manufacturing, engineering, and service capabilities.
Action taken
The companies completed a merger and operated as National Oilwell Varco.
Aftermath
The transaction created the corporate platform that later expanded into integrated rig systems, wellbore technologies, completion products, and global aftermarket services.
Recent events
- 2026
Jose Bayardo succeeds Clay Williams as NOV chief executive[1]
Leadership change
Jose Bayardo, previously NOV's president and chief operating officer, is identified as succeeding Clay Williams as chairman, president, and chief executive officer.
- 2026
Jose Bayardo becomes chairman, president and chief executive[1]
Leadership change
Jose Bayardo, previously NOV's president and chief operating officer, succeeded Clay Williams and assumed the combined chairman, president, and chief executive roles.
- 2021
National Oilwell Varco changes its name to NOV Inc.[1]
Other
The company adopted NOV Inc. as its corporate name while retaining the NOV identity and NYSE ticker.
- 2021
National Oilwell Varco adopts the NOV Inc. name[1]
Other
The company changed its corporate name from National Oilwell Varco to NOV Inc. on January 1, 2021.
- 2019
NOV acquires Ershigs[1]
M&A
The purchase added a Bellingham, Washington-based manufacturer of custom composite pipes and tanks.
- 2018
NOV acquires GustoMSC[1]
M&A
The Dutch offshore-rig design company became part of NOV's Rig Technologies activities.
- 2014
Clay Williams becomes chief executive[1]
Leadership change
Clay Williams succeeded Pete Miller as chief executive of National Oilwell Varco.
- 2012
NOV acquires Interval Ltd.[1]
M&A
The transaction expanded NOV's capabilities in coring technology and related drilling applications.
- 2012
NOV acquires Russian coring company Interval[1]
M&A
The company expanded its wellbore-technology portfolio through the acquisition of Russian coring specialist Interval Ltd.
- 2008
NOV acquires Grant Prideco[1]
M&A
The acquisition added major drill-pipe, drill-bit, wired-drill-pipe, and oilfield-connector businesses to NOV.
Showing the 10 most recent.
Sources5 sources
- 1NOV Inc.en.wikipedia.org
- 2NOV official websitenov.com
- 3NexTier Announces Successful Field Test of Natural Gas-Powered eFrac Engines, Advancing and Expanding Low-Cost, Low-Carbon Strategyprnewswire.com
- 4NOV (NYSE:NOV) Releases Quarterly Earnings Results, Hits Expectationsthemarketsdaily.com
- 5NOV launches sour service drill pipe grades to ensure pipe integrity in challenging formationsworldoil.com
Cite this profile: Cite the canonical profile. /brand-wiki/nov · Editorial policy · How profiles are compiled