National Oilwell Varco Inc. today announced that it intends to conduct an underwritten public offering of senior unsecured notes due 2029, subject to market and other conductions. The Company intends to use the net proceeds from the sale of the notes, along with cash on hand or revolving credit facility borrowings, to redeem a portion of its 2.600% senior notes due December 2022. Barclays Capital Inc., J.P. Morgan [...]
National Oilwell Varco Inc. today reported third quarter 2019 revenues of $2.13 billion, compared to $2.13 billion for the second quarter of 2019 and $2.15 billion for the third quarter of 2018. Net loss for the third quarter of 2019 was $244 million, which included non-cash, pre-tax charges of $314 million. Adjusted EBITDA increased $67 million sequentially to $262 million, or 12.3 percent of sales. “In the third [...]
National Oilwell Varco Inc. has been awarded equipment package and design orders for one of the world’s largest offshore wind turbine installation vessels by Japanese-based Shimizu Corporation. NOV, through its subsidiary GustoMSC, has worked closely with Shimizu on the customized jack-up design which has a total tonnage of 28,000t and is capable of accommodating 130 people. The vessel will also incorporate a [...]
National Oilwell Varco Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on September 27, 2019 to each stockholder of record on September 13, 2019. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field drilling [...]
National Oilwell Varco Inc. will hold a conference call to discuss its third quarter 2019 results on Tuesday, October 29, 2019 at 10 a.m. . NOV will issue a press release with the Company’s results after the market closes for trading on Monday, October 28, 2019. The call will be webcast live on www.nov.com/investors. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the [...]
National Oilwell Varco Inc. today reported second quarter 2019 revenues of $2.13 billion, an increase of 10 percent compared to the first quarter of 2019 and an increase of one percent from the second quarter of 2018. Net loss for the second quarter of 2019 was $5.39 billion, which included non-cash, pre-tax charges of $5.77 billion. Adjusted EBITDA increased $55 million sequentially to $195 million, or 9.1 percent of [...]
National Oilwell Varco Inc. today announces the sale of two 20,000-psi blowout preventer stacks to Transocean, becoming the first oilfield equipment manufacturer to successfully design, engineer and sell such a package. NOV’s 20K BOP stack is designed to optimize uptime and reduce unplanned stack pulls, reaffirming the company’s commitment to technical authority, engineering excellence and safety. “This [...]
National Oilwell Varco Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on June 28, 2019 to each stockholder of record on June 14, 2019. About NOV National Oilwell Varco Inc. is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field drilling, completion [...]
National Oilwell Varco Inc. will hold a conference call to discuss its second quarter 2019 results on Tuesday, July 30, 2019 at 10 a.m. . NOV will issue a press release with the Company’s results after the market closes for trading on Monday, July 29, 2019. The call will be webcast live on www.nov.com/investors. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the [...]
National Oilwell Varco Inc. today reported first quarter 2019 revenues of $1.94 billion, a decrease of 19 percent compared to the fourth quarter of 2018 and an increase of eight percent from the first quarter of 2018. Operating loss for the first quarter of 2019 was $48 million, net loss was $77 million, and Adjusted EBITDA was $140 million, or 7.2 percent of sales. Adjusted EBITDA decreased $139 million sequentially and [...]
National Oilwell Varco Inc. today announced that it expects to report first quarter 2019 revenues of $1.94 billion, which is below prior expectations. “The severity of the decline in demand for oilfield equipment resulting from the sharp fall in oil prices during late 2018, further compounded by capital austerity that has taken hold in upstream oil and gas markets, was greater than we expected,” commented Clay [...]
National Oilwell Varco Inc. today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on March 29, 2019 to each stockholder of record on March 15, 2019. About NOV National Oilwell Varco is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers’ full-field drilling, completion, and [...]
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