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94%
agree
19 votes
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"During a gold rush, invest in the companies making the shovels" |
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100%
agree
2 votes
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NOV's deepwater drilling business remains strong despite economic downturn |
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100%
agree
1 votes
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During a gold rush, invest in the companies making the shovels |
May 24, 2013
National Oilwell Varco (NYSE: NOV) is the world's leading supplier of equipment to the oil and gas industry, and its name can be found on 90% of the offshore and land drilling rigs across the globe. NOV is a provider of equipment and components used in oil and natural gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.[1] NOV's product portfolio is so extensive that it has been called a "one stop shop" for drilling contractors, and it conducts operations in over 800 locations across six continents.[1]
Overall, NOV's performance is dependent on the demand for oil and gas drilling, the amount of well remediation activity, the price of crude oil and natural gas, capital spending by drilling contractors, and the inventory levels of oil and natural gas.
(Read more at Wikinvest
) - Company Overview
- Business Segments
- Rig Technology (63% of total revenue[5], 84% of operating profit[5])
- Petroleum Services & Supplies (29% of total revenue[5], 23% of operating profit[5])
- Distribution Services (12% of total revenue[5], 3% of operating profit[5])
- Acquisitions
- Trends and Forces
- NOV benefits from increasing onshore drilling activity
- NOV's sales are tied to drilling activity
- Oil prices drive the demand for oil rig equipment
- Renewable Energy Could Prove Troublesome for NOV in the Long-Term
- Competition
- References
