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Does Rig Count Affect National Oilwell Varco’s International Revenues?

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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.

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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.

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