NOV designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and globally. It operates in two segments, Energy Equipment, and Energy Products and Services. The Energy Products and Services segment offers drill bits and borehole enlargement products.
Its portfolio also includes independent drilling and intervention downhole tools equipment, frac plugs, frac sleeves, toe initiation burst port systems, and recyclable setting tools, electric submersible pumps, high viscosity pumps, and surface pumps, tubular coating and inspection services for drill-pipe and oil country tubular goods, solids control and waste management equipment and services, data and digital solutions, precision-engineered drill pipe and drill-stem equipment, connectors and integral thread solutions, including conductor strings, surface casing, and liners, and composite pipe, tanks, and structures.
Its Energy Equipment segment provides drilling equipment, such as land rigs, complete offshore drilling packages, and rig components. Its portfolio also includes capital equipment, related consumables, and digital products for hydraulic stimulation, coiled tubing, and wireline services, marine and construction solutions, processing solutions for the separation and treatment of oil, gas, solids, seawater, and produced water production, flexible subsea pipe systems, cavity pumps, specialized mixers and heat exchangers, and reciprocating, multistage, and progressive cavity pumps, midstream products, including closures, transfer pumps, chokes and valves, as well as artificial lift support systems that include production BOPs and stuffing boxes. Founded in 1862 and based in Houston, Texas, NOV was formerly known as National Oilwell Varco, Inc. before rebranding in January 2021.