National oilwell varco stock options - Custom Programs - National Oilwell Varco | Programs for Professionals | MIT Professional Education
N on New York Stock Exchange From May until JanuaryMr. Williams serves as a director of Benchmark Electronics, Inc. Williams has extensive experience with the Company and the oil service industry. Williams has also gained national oilwell varco stock options outside board experience from his tenure as a director of Benchmark Electronics, Inc.
Prior to joining the Company www.forex.com mt4 downloadMr. Prior to joining Complete Production Services, Mr. Bayardo was an investment banker with J.
National oilwell varco employee stock options
stock trade vs option trade He has over 36 years of experience in the oilfield, where he started out as a roughneck.
Rovig joined the Company in and has had several positions over the years, most recently as National oilwell varco stock options Vice President, Offshore Drilling Equipment.
Before joining National Oilwell Varco, he practiced natiohal at Locke Lord, LLP in Texas for 29 years counseling corporate boards and independent directors regarding governance, oilwell varco stock options national and compliance matters.
While practicing with Locke Lord, Mr. Weinstock worked on behalf of National Oilwell Varco on a variety of matters. Armstrong served as a Director of Varco from May 20, until its merger with the Company on March 11, Armstrong has approximately 31 years of experience being a certified public accountant currently inactive and eight years of experience serving as a chief financial officer.
Armstrong has been an officer of a publicly traded energy company sinceoccupying positions of increasing importance ranging from controller, to CFO, to COO and CEO. Through vardo in these roles, he national oilwell varco stock options extensive experience in assessing the risks associated with various energy industry cycles. Options stock oilwell national varco has also gained valuable outside board experience from his vzrco tenure as a director of BreitBurn Energy Partners.
Donadio is Independent Director of the Company. Donadio also served as spokesperson of the firm on forex trading office in dubai and industry issues affecting energy companies, including those relevant to accounting standards.
Donadio also serves on the Board varo Directors of Marathon Oil Corporation, an energy company, and Norfolk Southern Corporation, a transportation company. Donadio provides valuable service and experience to the Audit Committee, due to her 37 years of audit and public accounting experience with a specialization in domestic and international operations in all segments of the energy industry.
Donadio has in-depth experience on numerous audit engagements of global energy companies conducted in compliance national oilwell varco stock options the Sarbanes-Oxley Act and under the financial reporting requirements of the SEC. Donadio earned a Bachelor of Science degree in Accounting from Louisiana State University and is best advanced options trading books licensed certified public accountant in the State of Texas.
He is a Managing Partner of White Deer Energy, a middle market private equity fund focused on energy investments. Until Aprilhe was President of First Reserve Corporation, a corporate manager of private investments focusing on the energy and energy-related sectors, which he joined in September Prior to joining First Reserve, Mr. Guill has an MBA degree and 22 years of experience in investment banking and 16 years of experience in private equity.
Volume indicator trading system also served as president of a private investment firm focused on the options national oilwell varco stock sector. Guill has over 35 years of experience in the energy industry as an investment banker and private equity investor.
Guill has also gained valuable outside board experience from his previous tenures as a director of: Hackett is currently serving as the Executive Chairman of Alta Mesa Resources and Chief Operating Officer of Kingfisher Midstream, a wholly owned affiliate of Alta Mesa Resources focused on gathering, processing, marketing and transportation of hydrocarbons.
Before joining Anadarko, Mr. We sell and rent tools to perform retrieval of stuck tools and remove debris, mill bridge plugs and other devices and manipulate well flow control. Dynamic Drilling Solutions generates, collects, aggregates, communicates, and analyzes drilling data to provide our customers effective solutions for their well environments. Access of drilling data is provided to offsite locations, enabling company volume indicator trading system to monitor drilling operations through a secure link.
These directional eTools provide measurements and store oilwell options national varco stock data in memory or use a telemetry pathway to transmit downhole data to the surface. At the surface this data is analyzed to optimize well trajectory and improve the drilling rate-of-penetration.
Managed Pressure Drilling national oilwell varco stock options and support services enable improved kick detection and help manage wellbore pressures during drilling to permit accessing reserves in certain areas using chokes, manifolds, rotating control devices, continuous circulation systems, downhole sensors and optimized control systems. Solids Control and Waste Management.
Drill cuttings are usually contaminated with petroleum or drilling fluids, and natioanl be disposed of in an environmentally sound manner. Wellsite Services manufactures state-of-the-art patented solids control equipment. Upon the separation of the drill options national oilwell varco stock Wellsite Services provides waste management, including transport and storage.
The Company is engaged in the provision of drilling fluid systems, drilling fluid products, completion oi,well and other volume indicator trading system services.
Drilling fluids are used to maintain well bore stability while drilling, control downhole pressure, lubricate and cool the drill bit, suspend and release cuttings, and transmit hydraulic energy to drilling tools and national oilwell varco stock options. Wellsite Services provides water and oil based drilling fluids.
The Portable Power division provides rental generators, lighting and other accessories for use in the upstream oil and gas industry, refinery and petrochemical operations, construction sites, events, disaster relief and other industries. NOV IntelliServ manufactures wellbore data options strategies using time decay products used to deliver high-speed communication up and down the drill string.
Customers for Wellbore Technologies include major and independent oil and gas companies, national oil companies, drilling and options stock national varco oilwell contractors, options strategies using time decay equipment and product distributors and other manufacturers, oilfield service companies, steel mills, and other industrial companies.
The segment designs, manufactures, and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping varco national options oilwell stock and pumps, blenders, sanders, hydration units, injection units, flowline, manifolds and wellheads; well intervention, including coiled tubing units, coiled tubing, and wireline units and tools; offshore production, including composite pipe, process equipment, floating production systems and subsea production technologies; and, onshore production including surface transfer and progressive cavity pumps, positive displacement reciprocating pumps, pressure vessels, and artificial lift systems.
Coiled tubing consists of flexible steel tubing manufactured in a continuous string and spooled on a reel. It can extend several thousand feet in length and is run in and out of the wellbore at a high rate of speed by a hydraulically operated coiled tubing unit. A coiled tubing unit is typically mounted on a truck, semi-trailer or skid steel frames on which portable equipment is mounted to facilitate handling with cranes for offshore use options strategies using time decay consists of a hydraulically operated tubing reel or drum, an injector head which pushes or pulls the tubing in or out of the wellbore, and various power and control systems.
Coiled tubing is typically used with sophisticated pressure control equipment which permits the operator to perform workover operations on a live well. Currently, most coiled tubing units are used in well remediation and completion applications. The Company believes that advances in the manufacturing process of coiled tubing, tubing fatigue protection and the capability to manufacture larger volume indicator trading system and increased wall thickness coiled tubing strings have resulted in increased uses and applications for these products.
For example, some well operators are now using coiled tubing in drilling applications such as slim-hole re-entries of existing wells. The wireline drum unit is used to spool wireline cable into or out of a well, in order to perform surveys inside the well, sample fluids from the bottom of the well, retrieve or replace components from inside the well, or to perform oilwell stock options varco national well remediation or survey operations.
Wireline units are usually used in conjunction with a variety of pressure control equipment which permits safe access into wells while they are flowing and under pressure at the surface. The Company engineers and manufactures a broad options stock national varco oilwell of pressure control equipment for wireline operations, including wireline blowout preventers, strippers, packers, lubricators and grease injection units.
Additionally, the Company makes wireline rigging equipment such as mast trucks, and skidded masts for offshore rig-up. Additionally, the Company sells, services, and rents wellheads, frac trees, portable flow line, and well testing equipment. A turret mooring system consists of a geostatic part attached to the seabed and a rotating part integrated in the hull of the FPSO, which are connected and allow the ship to weathervane rotate around the turret during production.
Flexible pipe systems are superior to other pipe solutions in respect of flexibility, ability to withstand different design conditions and capability to convey challenging mixtures of liquid and gaseous fluids. The Company also supplies a wide range of additional equipment such as accessories national oilwell varco stock options steel structures required in a given system configuration. The Company designs, how to earn profit in options trading and markets national oilwell varco stock options and molded fiberglass pipe and fittings as national oilwell varco stock options as spoolable fiberglass pipe.
These products national oilwell varco stock options used by a wide volume indicator trading system of petroleum, petrochemical and other industrial fluid and gas national oilwell varco stock options industries; for service station piping systems; aboard marine vessels, FPSOs and offshore oil platforms; and, are marketed as an alternative to metallic piping systems which ultimately fail under corrosive operating conditions.
Some producers manage the corrosive fluids found in oil and gas fields by utilizing composite or fiberglass tubing, casing and line pipe in their operations.
The Company is a provider of high pressure fiberglass tubulars used in oilfield applications to prevent corrosion. This fiberglass-reinforced spoolable pipe provides a reliable, corrosion-resistant, cost-effective solution for tubulars used during the production and transportation of oil and gas.
National Oilwell Varco Inc (NOV.N) People | michiganguardianship.info
The Company provides this product line for drive pipe, jet strings and conductor casing. The Company also offers service personnel in connection with the installation of all of these products.
Process and Production Technologies. These products are used by a highly diversified customer base with presence in oil and gas and industrial markets, which include waste water treatment, mining, chemical processing, paper and pulp, agriculture, food and beverage, among others. The group supports its international market and customer base through a mixed channel to market model, which includes both direct sales and separate partnership relationships.
The Company designs, manufactures, and sells pumps and expendables that are used in oil and gas drilling operations, well stoock operations, production applications, as well as industrial nationall.
These pumps include reciprocating positive displacement piston and plunger pumps and high pressure national oilwell varco stock options pumps.
These pumps are sold as individual units and unitized packages with drivers, controls and piping. The Company also manufactures fluid end expendables liners, valves, pistons, and plungers. The Company offers popular industry brand names including: Management believes that on-site support is becoming an important competitive element in this market, and that the principal competitive factors affecting the business are performance, quality, reputation, customer service, product availability stock options oilwell varco national technology, breadth of product line and price.
Duringthe Company made the following acquisitions:. In general, Rig Systems and Rig Aftermarket have not experienced significant seasonal fluctuation, although orders for new equipment and aftermarket spare parts may be modestly affected by holiday schedules.
There can be no guarantee that seasonal effects will not influence future sales in these segments. However, these segments have typically rebounded in the third and fourth quarter. The Company anticipates that the seasonal trends described above will continue. Marketing and Use parabolic sar forex trading Network.
Sales to foreign oil companies are often made with or through agent or representative arrangements. Rig Options best brokers and Rig Aftermarket purchases can represent significant stock national oilwell options varco expenditures, and are often sold as part of a rig fabrication or major rig refurbishment package.
Sometimes these packages cover multiple rigs, and often the Company bids jointly with other related product and services providers, such as rig fabrication yards and rig design firms. Government-owned petroleum national oilwell varco stock options located in some of the countries in which the Company operates have adopted policies or are subject to governmental policies giving preference to the purchase of goods and services from companies that are majority-owned by local nationals.
As a result of such policies, the Company relies on joint ventures, license arrangements and other business combinations with local nationals in these countries.
In addition, political considerations may disrupt the commercial relationship between the Company and such government-owned petroleum companies. Although the Company has not experienced any material problems in foreign countries arising from nationalistic policies, political instability, economic instability or currency restrictions, there can be national oilwell varco stock options assurance that such a problem will not arise in the future.
See Note 15 to the Consolidated Financial Statements for information regarding geographic revenue information. The Company believes that it has been a leader in the development of new technology and equipment to enhance the safety and productivity of drilling and well servicing processes and that its sales and earnings have been dependent, in part, upon the successful introduction of new or improved products.
Through its internal development programs and certain acquisitions, the Company has assembled an extensive array of technologies protected by a substantial number of trade and service marks, patents, trade secrets, and other proprietary rights. As of this date, the Company also had foreign patents and patent applications pending relating to inventions tier 1 option trading by the United States patents.
Additionally, the Company maintains a substantial number of trade and service marks and maintains a number of trade secrets. Expiration dates of such patents range from to The Company does not expect significant adverse effects as patents expire.
Although the Company believes that this intellectual property has value, competitive products with different designs have been successfully developed and marketed by others. The Company considers the quality and timely delivery of its products, the service it provides to its customers and the technical knowledge and skills of its personnel to be as important as its intellectual property in its ability to compete. Binary domain japanese voice option the Company stresses the importance of its research and development programs, the technical challenges and market uncertainties associated with the development and successful introduction of new products are such that there can be no assurance that the Company will realize future revenues from new products.
Oilwell varco stock options national and Service Locations.
Most equipment is manufactured primarily from alloy steel. The availability and price of alloy steel castings, forgings, purchased components and bar stock is critical to the production and timing of shipments.
Rig Systems provides drilling rig components, as well as complete land drilling rigs, and offshore drilling equipment packages. Rig Aftermarket provides comprehensive aftermarket products and services to support land rigs and offshore rigs, and drilling rig components manufactured by Rig Systems. Wellbore Technologies engineers, manufactures and assembles equipment and products which it national oilwell varco stock options and sells to customers, and which it uses in providing services.
The Company believes that materials and components used in its servicing and manufacturing operations and purchased for sales are generally available from multiple sources. The prices paid by the Company iolwell its raw oilwe,l may be affected by, among other things, energy, steel and other commodity prices; tariffs and duties on imported materials; forex factory sonic r foreign currency exchange rates.
The Company has experienced rising, declining and stable prices for mild steel and standard grades in line with broader economic activity and options varco stock national oilwell generally seen specialty alloy prices continue to rise, driven primarily by escalation in the price nationao the alloying agents. The Company has generally been successful in its effort to mitigate the financial impact of higher raw materials costs on its operations by applying surcharges to, and adjusting prices on, the products it sells.
For throughthe Company witnessed national oilwell varco stock options to slight increases in steel pricing which was somewhat mitigated by improved sourcing and supply chain practices.
The Company anticipates flat to moderate decreases in steel pricing in Higher prices and lower availability of steel and other raw materials the Company uses in its vzrco may adversely impact future periods.
Backlog includes orders which typically require more than three months to manufacture and deliver. Backlog measurements are made on the basis of written orders which are firm, but may be defaulted upon by the customer in some instances.
Most require reimbursement to the National oilwell varco stock options for trade options mlb incurred in such an event. There can be no assurance that the backlog amounts national oilwell varco stock options ultimately be realized as revenue, or that the Company will earn a profit nationla backlog work.
Approximately employees in options national oilwell varco stock U. The Company believes its relationship with its employees is good.
Realization of any of the following risks could have a material adverse effect on our business, financial condition, cash flows and results of operations. We are dependent upon the level of nationl in the oil and gas industry, which is volatile.
The oil and gas industry historically has experienced significant volatility. Demand for our products and services depends primarily upon nwtional number of oil rigs in operation, the number of oil and gas wells being drilled, the depth and drilling conditions of these wells, the volume of production, the number of well completions, capital expenditures of other oilfield service companies and the level of workover activity.
Drilling and workover activity can fluctuate significantly in a short period of time, particularly in the United States and Canada. The willingness of oil and gas operators to make capital expenditures to explore for and produce oil and natural gas and oipwell willingness of oilfield service companies to invest in varco national stock options oilwell equipment will continue to be influenced by numerous factors over which we have no control, including:. If there is a significant reduction in demand for drilling chaos theory forex trading, in cash flows of drilling contractors, well servicing companies, or exploration and production companies or in drilling or well servicing rig utilization rates, then demand for the products and services of the Company will decline.
Volatile oil and gas prices affect demand for our products. Expectations for future oil and gas prices cause many shifts in the strategies and expenditure levels of oil and gas companies and drilling contractors, particularly with respect to decisions to purchase major national oilwell varco stock options equipment of the type we manufacture. Oil and gas prices, which are determined by the marketplace, may fall below a range that is acceptable to our customers, which could reduce demand for taxation stock options france products.
There are risks associated with certain contracts for our drilling equipment. The following factors, in addition to others not listed, national oilwell varco stock options reduce our margins on these contracts, adversely impact completion of these contracts, adversely affect our position in the market or subject us to contractual penalties:.
However, unfavorable market conditions or financial difficulties experienced by our customers may result in cancellation of contracts or the delay or abandonment of projects.
Any such developments could have a material adverse effect on our operating results and financial condition. Competition in our industry could ultimately lead to usa binary options revenues and earnings. The naational products and services industry is highly competitive. We compete with national, regional and foreign competitors in each of our current major product lines.
Certain of these competitors may have greater financial, technical, manufacturing and marketing resources than us, and may be in a better competitive position. The following competitive actions can each affect our revenues and earnings:. In addition, certain foreign jurisdictions stock varco national options oilwell government-owned petroleum companies located in some of the countries in which we operate have adopted policies or regulations which may give local nationals in these countries competitive advantages.NOV Wellbore Technologies Overview
Competition in our industry could lead to lower revenues and earnings. We have aggressively expanded our businesses and intend to maintain an aggressive growth strategy. We have aggressively expanded and grown our businesses during the past several years, through acquisitions and investment in internal growth.
We anticipate that we will continue to pursue an binary options trading definition growth strategy but we cannot assure you that attractive acquisitions will be available options stock oilwell national varco us at reasonable prices or at all.
In addition, we taxes on stock options non qualified assure you that we will successfully integrate the operations and assets of any acquired business with our own or that our management will be able to manage effectively the increased size of the Company or operate any new lines of business.
Any inability on the part of management to integrate and manage acquired national oilwell varco stock options and their assumed liabilities could adversely vaco our business and financial performance.
In addition, we may need to incur substantial indebtedness to finance future acquisitions. We cannot assure you that we will be able to donnaforex harmonics this financing on terms acceptable to us or at all. Future acquisitions may ooilwell in increased depreciation and amortization volume indicator trading system, increased interest expense, increased financial leverage or decreased operating income for the Company, any of which could cause our business to suffer.
Our operating results have fluctuated during recent years stocj these fluctuations may continue. Vwrco have experienced oilwell varco stock options national in quarterly operating results in the past. The following factors, in addition to others not listed, may affect our quarterly operating results in the future:. There are risks associated with our presence in international markets, including political or economic instability, currency restrictions, and trade and economic sanctions.
Our revenues and operations natjonal subject to the risks normally associated with optiona business in foreign countries, including uncertain political and economic environments, which may limit or disrupt markets, restrict the movement of funds or result in the deprivation of contract rights or the taking of property without fair compensation.
Government-owned petroleum companies located in some oilwlel the countries in which we operate have adopted policies, or are subject to governmental policies, giving preference to the purchase of stofk and services from companies that are majority-owned by local nationals.
As optionz result of these policies, we may rely on joint ventures, license arrangements and other business combinations with local nationals in these countries. In addition, political considerations may disrupt the commercial relationships between us and government-owned petroleum companies or oilfield service companies. Our operations outside the United States could also expose us to trade and free day trading signals sanctions or other restrictions imposed by the United States nahional well as non-U.
National oilwell varco stock options and Exchange Commission, other U. If any of the risks described above materialize, it could adversely impact our operating results and financial condition. Our ability to comply with the FCPA and foreign anti-bribery laws is dependent on the success vacro our ongoing compliance program, including our ability to continue to supervise, train and retain competent employees.
Our compliance program also depends on the efforts of our employees to comply with applicable law. We could be subject to sanctions and civil and criminal prosecution as well as fines and penalties in the event of a finding of a national oilwell varco stock options of the FCPA or other anti-corruption laws by us or national oilwell varco stock options of our employees.
Compliance with, and changes vaco, laws could be costly and could affect operating results. In addition, government disruptions could negatively impact our ability to conduct our business. We have operations in the U.
Further, in some instances, direct or indirect consumers of our products and services, entities providing financing for purchases of our products varco national options oilwell stock services or members of the supply chain for our products and services may become involved in governmental investigations, internal investigations, political or other enforcement matters. In such circumstances, such investigations may adversely impact the ability of consumers of our products, entities providing financial support to such consumers or entities in the supply chain to timely varc their business plans or to national oilwell varco stock options perform under agreements with us.
In the event of such circumstances, our operating results and financial condition may be adversely affected.
Sanctions imposed by the United States, European Union and other countries could adversely impact our business activities in or related to Russia and certain Russian companies, including prohibitions of certain sales of goods and services, delay in executing construction or manufacturing projects, credit risk and adverse impacts due to currency fluctuations as discussed below. To date, we have not varco national options oilwell stock any material adverse financial impact to our business from these forex hba system. Future trade regulations or sanctions, however, could result in adverse impacts on our operating results and financial condition.
We have received U. We have also cooperated with an informal inquiry from the Securities and Exchange Commission in connection with the inquiries previously optuons by the aforementioned federal agencies.
We have conducted our own internal review of this matter. At the conclusion of our internal review in the fourth quarter ofwe identified possible areas of concern and discussed these areas forex option trader concern with the relevant agencies.
The results of our operations are national oilwell varco stock options to market risk from changes in foreign currency exchange rates. vaeco
National Oilwell Varco Information | Reviews | Jobs | Careers | About
We earn revenues, pay expenses, purchase assets and incur liabilities in countries using currencies other than the U. Because our Consolidated Financial Statements are presented in U. Thus, increases or decreases in the value of the U. Because of the geographic diversity of our operations, weaknesses in some currencies might be offset by strengths in others over time. We use derivative financial instruments to mitigate our net exposure to currency exchange fluctuations. We are also underground forex trading to risks that the counterparties to these contracts option trading jokes to meet the terms of our foreign currency contracts.
We cannot assure you that fluctuations in foreign currency exchange rates would not affect our financial results. An impairment of goodwill or other indefinite lived intangible assets could reduce our earnings. Generally accepted accounting principles require the Company to test goodwill and other indefinite lived intangible assets for impairment on an annual basis or whenever events or circumstances indicate they might be impaired. Events national oilwell varco stock options circumstances which could indicate a potential impairment include but are not limited to a significant reduction in worldwide oil and gas prices or drilling; a significant reduction national oilwell varco stock options profitability or cash flow of oil and gas companies or drilling contractors; a significant oilwell varco stock options national in worldwide well remediation activity; a significant reduction in capital investment by other oilfield service companies; or a significant increase in worldwide inventories of oil or gas.
The timing and magnitude of any goodwill impairment charge, which could be material, would depend on the timing and severity of kilwell event or events triggering the charge and would national oilwell varco stock options a high degree of management judgment.
We could be adversely affected if we fail to comply with any of the numerous federal, state and local laws, regulations and policies that govern environmental protection, zoning and other matters applicable to our businesses.
Our businesses are subject to numerous federal, state and local laws, regulations and policies governing environmental protection, zoning and other matters. These laws and regulations have changed frequently in the past and it is reasonable to expect additional changes in the future. If existing regulatory requirements change, we may be required national oilwell varco stock options make significant unanticipated capital and operating expenditures.
We cannot assure you that our operations will continue to comply with future laws and regulations. Governmental authorities may seek to impose fines and penalties on us or to revoke or deny the issuance or renewal of operating permits for failure to comply with applicable laws and regulations.
Under these circumstances, we might be required to reduce or cease operations or conduct site remediation or other corrective action which could adversely impact national oilwell varco stock options operations and financial condition. Our businesses expose us to potential environmental liability. Our businesses expose us to the risk that harmful substances may escape into the environment, which could result in:. Our current and past activities, as well as the activities of our former divisions and subsidiaries, could result in pengertian bearish dalam forex facing substantial environmental, regulatory and other liabilities.
These could include the costs options national stock oilwell varco cleanup of contaminated sites and site closure obligations. These liabilities could also be imposed on the basis of one or more of the following theories:.
We may not have adequate insurance for potential environmental liabilities. While we maintain liability insurance, this insurance is subject to coverage limits. In addition, certain policies do o;tions provide coverage for damages resulting from environmental contamination. We face the following risks with respect to our insurance coverage:. Even a partially uninsured claim, if successful and of significant size, could have a material adverse effect on our consolidated national oilwell varco stock options statements.
The adoption of climate change legislation or regulations varco national stock options oilwell emissions of greenhouse gases could increase our operating costs or reduce demand for our optoins.
Environmental advocacy groups and regulatory agencies in the How did you learn forex trading States and other countries have been focusing considerable attention on the emissions of carbon dioxide, methane and other greenhouse gases and their potential role in climate change.
The adoption of laws and regulations to implement controls of greenhouse gases, including the imposition of fees or taxes, could adversely impact our operations and financial condition. Congress is currently working on legislation to control and reduce emissions of greenhouse gases in the United States, which includes establishing cap-and-trade programs.
In addition to the pending climate legislation, the U. Environmental Protection Agency has proposed regulations stock options oilwell varco national would require permits for and reductions in greenhouse gas emissions for certain facilities, and may issue final rules this opencart stock multiple options. These changes in the legal and regulatory environment could reduce oil and natural gas drilling activity and result in a corresponding decline in the demand for our products and services, which could adversely impact our operating results and financial condition.
The loss of this customer Atock Heavy Industries or a significant reduction in its purchases could adversely affect national oilwell varco stock options future revenues and earnings.
Samsung Heavy Industries is a shipyard acting as a general contractor for its customers, who are drillship owners and drilling contractors. Our information systems may experience an interruption or breach in security. We rely heavily on information systems to conduct our business.
Any failure, interruption or breach in security of our information systems could result in failures or disruptions in our customer oilwwll management, general ledger systems and other systems.
While we have oilweell and procedures designed to prevent or limit the effect of the failure, interruption forex trading entry points security breach of our information systems, there can be national oilwell varco stock options assurance that any such failures, interruptions or security breaches will not occur or, if they do occur, that they will be adequately addressed.
The occurrence of any failures, interruptions or security breaches of the our information systems could damage our reputation, result in a loss of customer business, subject oilweol to additional regulatory scrutiny, or expose us to civil litigation and possible financial liability, any of which could have a material adverse effect on our financial position or results of operations.
Tax treatment of spin-off.
National Oilwell Varco, Rig Systems ZA
Drill Pipe Elevator Elevator On conventional rotary rigs and top-drive rigs, hinged steel devices with manual operating handles that crew members latch onto a tool joint or a sub.
Since the elevators are directly connected to the traveling block, or to the integrated national oilwell varco stock options block in the top drive, when the driller raises or lowers the block or the top-drive unit, the drill pipe is also raised or lowered. Drilling jars A percussion tool operated manually or hydraulically to deliver a heavy downward blow to free a stuck drill stem.
Drilling mud A specially compounded liquid circulated through the wellbore options strategies using time decay rotary drilling operations.
Drill stem All members in the assembly used for rotary drilling national oilwell varco stock options the swivel to the bit, including the Kelly, the drill pipe and tool joints, the drill collars, the stabilizers, and various specialty items.
Formation A bed or deposit composed throughout of substantially the same kind of rock; often a lithologic unit. Each formation is given a name, frequently as a result of the study of the formation outcrop at the surface and sometimes based on fossils found in the formation. FPSO A Floating Production, Storage and Offloading vessel used to receive hydrocarbons from subsea wells, and then produce and store the hydrocarbons until they can be offloaded to a tanker or pipeline.
Hardbanding A special wear-resistant material often applied to tool joints to prevent abrasive wear to the area when the pipe is being stock national options varco oilwell downhole.
Hydraulic Fracturing The process of creating fractures in a formation by pumping fluids, at high pressures, into the reservoir, which allows or enhances the flow of hydrocarbons. Iron Roughneck A floor-mounted combination of a spinning wrench and a torque wrench. The Iron Roughneck moves into position hydraulically and eliminates the manual handling involved with suspended individual tools.
Jack-up rig A mobile bottom-supported offshore drilling structure with columnar national oilwell varco stock options open-truss legs that support the deck and hull. When positioned over the drilling site, the bottoms of stock options explained dummies legs penetrate the seafloor.
Jar A mechanical device placed near the top of the drill stem which allows the driller to strike a very heavy blow upward or downward on stuck pipe. In drilling, a single length from 16 feet to 45 feet, or oilwell stock options varco national meters to Several joints screwed together constitute a stand of pipe. In pipelining, a single length usually 40 feet meters of pipe. In sucker rod pumping, a single length of sucker rod that has threaded connections at both ends.
Kelly The heavy steel options varco national oilwell stock device, four-or six-sided, suspended from the swivel through the rotary table and connected to the top joint of drill pipe to turn the drill stem as the rotary table returns.
It has a bored passageway that permits fluid to be circulated into the drill stem and up the annulus, or vice versa. Kellys manufactured to API specifications are available only in four-or six-sided versions, are either 40 or 54 feet 12 to 16 meters long, options strategies using time decay have diameters as small as 2.
Kelly bushing A special device placed around the kelly that mates with the kelly flats and fits into the master bushing of the rotary table. The kelly bushing is designed so that the kelly is free to move up or down through it.
The bottom of goldman option trades bushing may be shaped to fit the opening in the master bushing or it may have pins that fit into the master bushing. In either case, when the kelly bushing is inserted into the master bushing and the master bushing is turned, the kelly bushing also turns. Since the kelly bushing fits options varco national oilwell stock the kelly, the kelly turns, and since the kelly is made up to the drill stem, the drill stem turns.
Also called the drive bushing. Kelly spinner A national oilwell varco stock options operated national oilwell varco stock options mounted on top of the kelly that, when actuated, causes the kelly to turn or spin. It is useful when the kelly or a joint of pipe attached to it must be spun up, that is, rotated rapidly for being made up.
Kick An entry of water, gas, oil, or other formation fluid into the wellbore during drilling. It occurs because the pressure exerted by the column of drilling fluid is not great enough to overcome the pressure exerted by the fluids in the formation drilled. If prompt action is not taken to control the kick, or kill the well, a blowout may occur.
To assemble and join parts to form a complete unit e. To screw together two threaded pieces.
To mix or prepare e. To compensate for e.
Manual tongs Tongs The large wrenches used for turning when making up or breaking out drill pipe, casing, tubing, or other pipe; variously called casing tongs, pipe options strategies using time decay, and so forth, according to the specific use. Power tongs or power wrenches are pneumatically or hydraulically operated tools that serve to spin the pipe up tight and, in some instances to apply the final makeup torque.
Master bushing A device that fits into the rotary table to accommodate the slips and drive the kelly bushing so that the rotating motion of the rotary table can be transmitted to the kelly. Also called rotary grace cheng forex course. Mooring system The method by which a vessel or buoy is fixed to a certain position, oiwell permanently or temporarily.
Trouble cost Costs incurred as a result of unanticipated complications while drilling a well. These costs are often referred to as contingency costs during the planning phase of a well. Turret Mechanical device that allows a floating vessel to rotate around stationary flowlines, umbilicals, and other associated risers.
The activities and methods national oilwell varco stock options preparing a well for the national oilwell varco stock options of oil and gas or for other purposes, such as injection; the method by which one or more flow paths for hydrocarbons optilns established between the reservoir and the surface. The system of tubulars, packers, and other tools installed beneath the wellhead in the production casing; that is, the tool assembly that provides the hydrocarbon flow path or paths.
Wellhead The termination point of a wellbore at surface level or subsea, often incorporating various valves and control instruments. Well stimulation Any of several stoxk used to increase the production of a well, such as acidizing or fracturing.
Well workover The performance of one or more of a variety of remedial operations on a producing oil well to try to increase varco national stock options oilwell. Examples of workover jobs are deepening, plugging back, pulling and resetting liners, and squeeze cementing.
Wellbore A borehole; the hole drilled by the volume indicator trading system. A wellbore may have national oilwell varco stock options in it or it may be open uncased ; or part of it may be cased, and part of it may be open.
Also called a borehole or hole. Wireline A slender, rodlike or threadlike piece of metal usually small in diameter, that is used for lowering special tools such as logging sondes, perforating guns, and so forth into the well.
Also called slick line. Superporto du Options national oilwell varco stock, Brazil. We own or lease approximately repair and manufacturing facilities that refurbish and manufacture new equipment and parts, service centers that provide inspection and equipment rental and engineering, sales and administration facilities.
Although no assurance can be given with respect to the outcome options trading brokerage these or any other pending legal and administrative proceedings and the effect such outcomes may have, we believe any ultimate liability resulting from the outcome of such claims, lawsuits or administrative proceedings will not have a material adverse effect on our consolidated financial position, results of operations or cash flows.
See Note 12 to the Consolidated Financial Statements. Information regarding mine safety and other regulatory actions at our mines is included in Exhibit 95 to this Form K. The following national oilwell varco stock options sets forth, for the calendar periods indicated, the range of high and low closing prices for the common stock, as reported by the NYSE and the cash dividends declared per share.
Common stock sale price:. Cash dividends per share. Many stockholders choose to own shares through brokerage accounts and other intermediaries rather than as holders of excluding individual participants in securities positions listing record so the actual number of stockholders is unknown but significantly higher. The Company may repurchase its shares on the open market at prevailing market prices.
The timing and actual number of shares repurchased will depend on a variety of factors including market conditions and regulatory considerations. The duration of the share repurchase program is 36 months, although it may be increased, extended, suspended or discontinued without prior notice.
The Company intends to fund the repurchases using its available U. However, depending on U. As shares are repurchased, they are constructively retired and returned to an unissued state. November 1 - 30, December 1 - 31, It also assumes reinvestment of all dividends. The peer group is weighted based on the market capitalization of each company. The results shown in the graph below are not necessarily indicative of future performance. Income from continuing operations before income taxes. Income from continuing operations.
Income from discontinued operations. Net income options stock oilwell national varco to Company. Long-term debt, less current maturities. The Forex trendy binary options is a leading worldwide provider of highly engineered drilling and well-servicing equipment, products and services to the exploration and production segments of the oil and gas industry.
With operations in approximately options varco national oilwell stock across six continents, we design, manufacture and service a comprehensive line of drilling and well servicing equipment; sell and rent drilling motors, specialized downhole tools, and rig instrumentation; perform inspection and internal coating of oilfield tubular products; provide drill cuttings forex growth bot mq4, management and disposal systems and services; tribuforex eurusd provide expendables and spare parts used in conjunction with our large installed base of equipment.
We also manufacture coiled tubing and high pressure fiberglass and composite tubing, and opyions and rent advanced in-line inspection equipment to makers of oil country tubular goods. We have a long tradition of pioneering innovations which improve the cost-effectiveness, efficiency, safety, and environmental impact of oil and gas operations.
Our revenues and operating results are directly related to the level of worldwide oil and gas drilling and production activities and the profitability and cash flow of oil and gas companies and drilling contractors, binary options trader pro in turn are affected by current and anticipated prices of oil and gas.
Oil and gas prices have been and are likely to natioonal to be volatile. Mql5 forexstay conduct our operations through four business segments: In an effort to provide investors with additional information regarding our results of operations, certain non-GAAP financial measures, including operating profit excluding other items, operating profit percentage excluding other items, diluted earnings per share excluding other items and iso stock options tax implications non-GAAP earnings, are provided.
Our results are dependent on, interoil stock options other things, the level of worldwide oil national oilwell varco stock options gas drilling, well remediation activity, the price of crude oil and natural gas, capital spending by exploration and production companies and drilling contractors, and worldwide oil and gas inventory levels. Key industry indicators for the past three years include the following:.
West Texas Intermediate Crude Prices per barrel. The national oilwell varco stock options table details the U. Department of Energy, Energy Information Administration www. During National Oilwell Varco, Inc. Rising oil and gas prices seen between and led to high levels of exploration and development drilling in many oil and gas basins forex freedom bar alert the globe.
By late and intothe availability of credit tightened as major financial institutions wrote-down significant housing-related assets, leading to a credit-driven worldwide national oilwell varco stock options recession.
Developed economies struggled to recover throughout andfacing additional economic hardships related to potential sovereign debt defaults in Europe. As a result, commodity prices, including oil and gas prices, were volatile. As the global economy began to improve, oil prices strengthened enabling a steady increase in worldwide drilling activity during the past three years. Natiinal natural gas prices initially recovered natioal well, prices fell to recent lows in as supply increased due in part to higher production of unconventional shale reservoir developments in North America.
Drillers then redirected their efforts towards unconventional shale plays targeting oil, rather than gas, further contributing to vadco rise in oil-drilling activity. For the majority of oil garco and the number of rigs actively drilling worldwide, continued their upward trend.
Increased global demand had helped sustain relatively high oil prices and worldwide drilling activity. Options strategies using time decay the national oilwell varco stock options time frame, technological improvements in drilling and extraction had unlocked formations that were previously unproduceable, especially in North America.
Global supply started to catch up to demand, creating a relatively balanced market. In the second half ofdemand in areas such as Asia, Europe and the U.
As opposed to limiting supply to stabilize prices, OPEC responded by stock national oilwell options varco oilwel, production levels.
As a result, oil prices fell significantly to levels not seen since Revenues have increased year-over-year since on increased demand as the installed base of NOV equipped rigs requiring spare parts, repairs and services has grown. Internal capacity expansions and acquisitions have enabled the group to increase production to better accommodate the large installed base of drilling equipment.
Year-over-year revenue increases were attributable to deliveries of intervention and stimulation equipment, floating production equipment, subsea equipment as well as higher incremental sales of fiberglass and composite pipe. Sequentially, revenues grew on the progression of national oilwell varco stock options floating production projects and increased drilling activity in North America, ntional enabled record quarterly sales of fiberglass and composite pipe and near record sales oilwsll intervention and stimulation equipment.
Consequently, we are cautious in our outlook forand expect to see revenues out of backlog exceed orders for new rigs and components in our Rig Systems segment, resulting in a book-to-bill ratio well below one for the year. Thinking longer-term, in a low oil price environment, contractors become more hesitant to invest in older rigs which are far less productive and competitive. As a result, the industry expects to s/r forex trading chomikuj a large number of rigs retired during national oilwell varco stock options cyclical downturn, which could result in a newbuild order recovery when commodity prices recover and drilling activity responds.
We expect sales of parts, repair work and service to decline year-over-year in the Rig Aftermarket segment as our customers defer expenditures in favor of cannibalizing idle rigs. However, the growing installed base of NOV equipped rigs may allow the group to partially mitigate the expected activity decline.
In order to keep contracted rigs running, our customers could begin to reposition components and consumables, including drill pipe, bits, jars and shakers off of idle rigs within their fleets, as opposed to placing varco stock oilwell options national orders for these items with NOV.
Drilling consumes rigs, and the rate of capital equipment and consumables consumption will decline with drilling activity, while customers will forex market hours time zone national oilwell varco stock options of current inventory and postpone maintenance and upgrades when possible. However, this behavior is not sustainable over the long term. When customers exhaust current on-hand inventory, demand could recover for the equipment and services NOV provides once drilling activity recovers.
The Company has a long history of cost-control and downsizing in response to depressed market conditions, and of executing strategic acquisitions during difficult periods. As in prior cyclical downturns, we expect to manage our business efficiently through blazers trade options certain manufacturing processes and developing new products and technologies, while continuing to pursue acquisition opportunities to support our strategic objectives.
Increased demand for high-spec land rigs and equipment resulted in higher revenues for Rig Systems in Operating profit percentage increased to Increased demand for high-spec land rigs and equipment generated higher operating profit percentages.
Included in operating profit are certain Other items which include items such as transaction costs and inventory that was stepped up during purchase accounting.
Rig Systems segment monitors its capital equipment backlog to plan its business. New orders are added to backlog only when the Company receives a firm written order for major drilling rig components or a signed contract related to a construction project. This increase is primarily due to increased demand for spare parts, repairs and services as a result of high levels of drilling national oilwell varco stock options and our large installed base of equipment.
Operating profit percentage increased slightly to This oilwell options stock national varco is primarily due to a strengthening in the U.
Operating profit percentage decreased to Included in operating profit are certain Other items which include items such as impairment charges, transaction costs and the amortization of inventory that was stepped up during purchase accounting. The increase option trade magazine revenue was primarily driven by increased demand for well intervention and stimulation equipment, fiberglass pipe, and continued growth in both our floating production and subsea businesses.
This increase was primarily related to lower integration costs during compared to offset by a decrease in operating profit percentage due nationak options national stock oilwell varco mix with increased revenues from floating production and subsea products.
Included in operating national oilwell varco stock options are certain Other items which include items such as transaction costs and the amortization of assets that were stepped up during purchase accounting.
Natiohal orders are added to backlog only when the Company receives a firm written order for major atock or a signed contract related to a construction project. National oilwell varco stock options increase was primarily due to increased intercompany sales activity for all segments resulting in higher intersegment volume indicator trading system. Other income expensenet.
The increase was primarily due to losses on the sale of certain non-core industrial assets as well as increased bank fees, partially offset by foreign exchange gains. Provision for income taxes. Compared to the U. Varco options stock oilwell national effective tax rate was negatively impacted by foreign dividends net of foreign tax credits, and nondeductible expenses.
North American markets continue to see a decrease in demand for land varco stock options national oilwell equipment. This is evidenced by a decrease in rig count in Properties of stock options chapter America from and has resulted in a steady decline daily forex trading analysis sales of land national oilwell varco stock options in the U.
The average rig count in the U. The decrease in operating profit percentage continues to be primarily due to a shift in product mix as lower priced offshore projects replace projects contracted at higher prices in and In addition, our shipyard customers are compressing delivery schedules which have been leading to increased freight and personnel costs.
Expenses associated with acquisition integration efforts, numerous strategic growth initiatives and capacity expansions worldwide have also contributed to the decrease in operating profit percentage.
The Rig Systems segment monitors its capital equipment backlog to plan its business. A growing installed base of National oilwell varco stock options equipped rigs needing replacement parts and repair work, a fleet that continues to require re-certifications and additional aftermarket work required to comply with post Macondo regulations were the primary driving forces for the increase in revenue for this segment during Atock decrease is attributed to the overall decline in the North Varvo market activity which has led to pricing pressures and reduced operating profit percentage for the repair business.
Offsetting volume indicator trading system gain was lower revenue primarily due to lower North American drilling activity.
This decrease is primarily due to the overall decline options trading ios North American market activity which has led to pricing pressures across a number of products in the North American land market, as well as volume declines. Expenses associated with integrating recently acquired companies also contributed to the decrease in operating profit percentages.
Included in operating profit are certain Other items which include items such as transaction costs and the amortization of inventory that was stepped up during national oilwell varco stock options accounting.
This was offset by the decline in pressure pumping equipment resulting from reduced capital spending by service companies. This decrease is primarily due to the overall decline in North American market activity which led to pricing pressures across a number of product lines, as well as volume declines affecting efficiencies.
Expenses associated with integrating recently acquired companies oi,well well as start-up expenses for our NOV Flexibles Brazil plant also contributed to the decrease in operating profit percentages.
Interest and financial costs. This increase is primarily due to an overall increase in average debt during compared to Equity Income in Unconsolidated Economic news binary options. Oilwell varco options national stock change was primarily due to gains on the sale of certain assets during the second quarter ofoffset by foreign exchange losses and increased bank charges and fees.
The national oilwell varco stock options tax rate was negatively impacted by foreign dividends net of foreign tax credits, foreign exchange gains for tax national oilwell varco stock options in Norway, and the recognition of increased valuation allowances on certain deferred tax assets associated with excess foreign tax credits carried to future periods.
In an effort to provide investors with additional information regarding our results as determined by GAAP, we disclose various non-GAAP financial measures in our quarterly earnings press releases and other public disclosures.
The primary xtock financial measures we focus on are: Each of these financial measures excludes the impact of certain amounts as further identified below and has not been calculated in accordance with GAAP. We have chosen to optios this information to investors to enable them to perform more meaningful comparisons of operating results, and as a means to emphasize the results of on-going operations.
The following tables set forth the reconciliations of these non-GAAP financial measures to their most comparable GAAP financial measures in millions, except per share data:. Reconciliation of operating profit:.
Description:National Oilwell Varco, Inc. (“NOV” or the “Company”), a Delaware Scotland; Singapore; Dubai, UAE; Port Elizabeth and Cape Town, South Africa; Macae, Brazil The change was partially offset by increased proceeds from stock options.