Chief executive Clay Williams said that NOV’s “investmentsin new technologies, manufacturing capacity and strategic acquisitions droveyear-over-year revenue and earnings growth”.
NOV’s rig technology, petroleum services & supplies anddistribution & transmission segments all booked increased profits for thefirst quarter compared to the year-ago period.
Rig technology rose the most, booking a 20% increase year-on-yearin operating profit to $635 million as increased land drilling and well service activity onshore the US led to greater demand for shale rigs and equipment.
