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March 12, 2014
07:01 EDTNOVNational Oilwell to reorganize into four financial reporting segments
National Oilwell Varco will reorganize into four financial reporting segments. The new segments will be Rig Systems, Rig Aftermarket, Completion & Production Solutions, and Wellbore Technologies. This reorganization will be effective April 1. The company’s Rig Systems group will continue to focus on designing and manufacturing discrete drilling equipment components, as well as building complete integrated drilling equipment packages for both land and offshore applications. The company’s Rig Aftermarket group will consist of the consumables, spares and service required to maintain the equipment components and packages for the useful lives of the assets. The Completion & Production Solutions group will focus on improving wellbore completions, and oil and gas production technologies. The company’s Wellbore Technologies business group will direct its attention to enhancing drilling performance at the rig, both land and offshore. The company intends to issue historical financial results for these four new reporting segments during the second quarter of 2014, sometime after it makes its previously announced first quarter earnings release. The company will also continue to report the results of its Distribution business group until the completion of the previously announced spinoff of that business as a separately traded public company.
News For NOV From The Last 14 Days
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February 25, 2015
10:22 EDTNOVNational Oilwell management to meet with Jefferies
Meeting to be held in Houston on March 2 hosted by Jefferies.
February 18, 2015
10:05 EDTNOVOn The Fly: Analyst Initiation Summary
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06:56 EDTNOVNational Oilwell initiated with an Underperform at BMO Capital
Target $52.

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