Company Overview

NOV Inc. is a global provider of equipment and technology used in the oil and gas exploration and production industry, serving both onshore and offshore markets. The company designs, manufactures, and services systems and components that support the drilling, completion, and production phases of hydrocarbon development. Its core customers include major integrated oil companies, national oil companies, independent exploration and production firms, and oilfield service contractors.

The company’s primary revenue drivers are its engineered equipment, aftermarket services, and consumable products that are essential to drilling and production operations. NOV is widely recognized for its scale, broad product portfolio, and installed base, which create recurring revenue opportunities through spare parts and services. Founded in 1841 and later transformed through a series of mergers and acquisitions, the modern NOV emerged following the combination of National Oilwell and Varco International in 2005, establishing a diversified oilfield equipment leader.

Business Operations

NOV operates through three primary business segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. Wellbore Technologies focuses on drilling tools, tubulars, and downhole equipment, including drill pipe, casing, and directional drilling technologies. Completion & Production Solutions provides pressure pumping equipment, composite pipe, artificial lift systems, and production-related technologies. Rig Technologies supplies land and offshore drilling rigs, rig equipment packages, and integrated control systems.

The company generates revenue through a mix of capital equipment sales, consumables, and aftermarket services, with a significant portion derived from its global installed base. NOV maintains a vertically integrated manufacturing model and controls proprietary technologies across its product lines. It operates through numerous wholly owned subsidiaries and brands under the NOV Inc. corporate structure, including legacy operations associated with Grant Prideco and Varco product lines.

Strategic Position & Investments

NOV’s strategic direction emphasizes capital discipline, technology differentiation, and expanding its aftermarket and recurring revenue streams. The company has focused on optimizing its portfolio, exiting non-core activities, and investing in automation, digital drilling solutions, and lower-carbon technologies that improve operational efficiency and safety for customers.

Investment priorities include advanced rig automation, digital condition monitoring, and equipment designed to reduce emissions and environmental impact. NOV has also pursued selective acquisitions and internal development to strengthen its offerings in energy transition–adjacent areas, such as composite materials and carbon-reducing production technologies. Information on specific emerging technology investments is partially disclosed, and some details remain limited in publicly available filings.

Geographic Footprint

NOV operates globally, with a significant presence in North America, Middle East, Europe, Asia-Pacific, Latin America, and Africa. The company is headquartered in Houston, Texas, which serves as its primary corporate and operational hub. Manufacturing, service, and distribution facilities are strategically located near major oil and gas basins to support customer operations.

International markets represent a substantial portion of NOV’s revenue, particularly in the Middle East and offshore regions. The company’s global footprint allows it to support long-term projects with national oil companies and multinational operators, reinforcing its position as a key supplier across diverse regulatory and operating environments.

Leadership & Governance

NOV is led by an executive team with extensive experience in the energy equipment and services sector, emphasizing operational excellence, capital efficiency, and long-term value creation. The company follows a governance framework aligned with U.S. public company standards and maintains oversight through an independent board of directors.

Key executives include:

• Clay C. Williams – Chairman, President, and Chief Executive Officer
• David A. Reid – Senior Vice President and Chief Financial Officer
• Joseph A. Walker – Senior Vice President and Chief Operating Officer
• Darin J. C. Moore – Senior Vice President, General Counsel, and Corporate Secretary
• Eric L. Ball – Senior Vice President, Investor Relations and Corporate Development