National Oilwell Varco 2015 Annual Report Download - page 3

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Table of Contents
Rig Aftermarket
The Company’s Rig Aftermarket segment provides comprehensive aftermarket products and services to support land and offshore rigs, and drilling rig
components manufactured by the Company’s Rig Systems segment.
The segment provides spare parts, repair, and rentals as well as technical support, field service and first well support, field engineering, and customer training
through a network of aftermarket service and repair facilities strategically located in major areas of drilling operations.
Rig Aftermarket supports land and offshore drillers. Demand for the segment’s products and services depends on overall levels of oilfield drilling activity,
which drives demand for spare parts, service, and repair for Rig Systems’ large installed base of equipment; and secondarily on drilling contractors’ and oil
and gas companies’ capital spending plans, specifically capital expenditures on rig refurbishments and re-certifications.
Wellbore Technologies
The Company’s Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling
operations, and offers services that optimize their performance, including: solids control and waste management equipment and services; drilling fluids;
portable power generation; premium drill pipe; wired pipe; drilling optimization and automation services; tubular inspection, repair and coating services;
rope access inspection; instrumentation; measuring and monitoring; downhole and fishing tools; steerable technologies; hole openers; and drill bits.
Wellbore Technologies focuses on oil and gas companies and supports drilling contractors, oilfield service companies, and oilfield equipment rental
companies. Demand for the segment’s products and services depends on the level of oilfield drilling activity by oil and gas companies, drilling contractors,
and oilfield service companies.
Completion & Production Solutions
The Company’s Completion & Production Solutions segment integrates technologies for well completions and oil and gas production. The segment designs,
manufactures, and sells equipment and technologies needed for hydraulic fracture stimulation, including pressure pumping trucks 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; onshore production, including composite pipe, surface transfer and progressive cavity pumps, and artificial lift systems; and, offshore
production, including floating production systems and subsea production technologies.
Completion & Production Solutions supports service companies and oil and gas companies. Demand for the segment’s products depends on the level of
oilfield completions and workover activity by oilfield service companies and drilling contractors, and capital spending plans by oil and gas companies and
oilfield service companies.
The following table sets forth the contribution to our total revenue of our four reporting segments (in millions):

Revenue:
Rig Systems $ 6,964 $ 9,848 $ 8,450
Rig Aftermarket 2,515 3,222 2,692
Wellbore Technologies 3,718 5,722 5,211
Completion & Production Solutions 3,365 4,645 4,309
Eliminations (1,805) (1,997) (1,441)
Total Revenue $14,757 $21,440 $19,221
2