National Oilwell Varco, Inc. (NYSE: NOV) today reported that for its second quarter ended June 30, 2015, it earned net income of $289 million, or $0.74 per fully diluted share, compared to first quarter ended March 31, 2015 net income of $310 million, or $0.76 per fully diluted share. Excluding other items and non-recurring charges from all periods, second quarter net income was $301 million, or $0.77 per fully diluted share, compared to $1.14 in the first quarter of 2015 and $1.47 in the second quarter of 2014. Second quarter 2015 other items were $17 million in pre-tax severance and facility closure charges.

Looking into 2015 we face a very challenging market.

API: Exploratory oil drilling increased 75 percent in Q4

National Oilwell Varco, Inc. (NYSE: NOV) announced today that its Board of Directors has authorized a share repurchase program to purchase up to $3 billion of the company's outstanding common stock.

Honeywell To Upgrade First Ice-Class Offshore Stationary Platform On Sakhalin Shelf

National Oilwell Varco warns of Russian sanctions impact

Foster Wheeler-Led JV awarded contract for oilfield development in Libya

Over 670,000 new oil wells will need to be drilled in order to meet global energy demands according to a report published by energy business research group Douglas-Westwood (DW).

National Oilwell Varco Announces Election of Clay Williams as President & Chief Executive Officer

National Oilwell Varco Declares Regular Quarterly Dividend