Does Rig Count Affect National Oilwell Varco’s International Revenues?
Revenue from international operations
In 2015, National Oilwell Varco’s (NOV) revenue share generated outside the US gained 3%. NOV’s revenue from the international geographies increased to 75% of its total revenues in 2015, compared to 72% in 2014.
In comparison, Halliburton’s (HAL) international revenues at the end of 2015 increased to ~58% of its total revenues compared to 46% at the end of 2014.
Interested in NOV? Don't miss the next report.
Receive e-mail alerts for new research on NOV
International rig count
By July 31, the international rig count declined 16% over the previous year. This is lower compared to the US rig count fall, which nearly halved in the past year until August 12. NOV comprises 0.22% of the iShares Russell Mid-Cap ETF (IWR). The energy sector makes up 6.0% of IWR.
Next, we’ll discuss National Oilwell Varco’s backlog.