Oil Field Equipment Used

National Oilwell Is Now Outperform

The company – one of the largest manufacturers of drilling equipment in the world – has a large installed base of rigs worldwide that provides for a steady recurring revenue stream through demand for maintenance, parts and other expendable products.

Late last month, National Oilwell Varco reported better-than-expected second quarter results, helped by robust drilling and pressure pumping activity throughout North America, as well as good project execution skills and manufacturing efficiency.

Earnings per share (excluding transaction charges) came in at $1.14, comfortably above the Zacks Consensus Estimate of $1.01 and the year-ago adjusted profit of 97 cents. Quarterly revenue rose 19.5% year-over-year – from $2,941.0 million to $3,513.0 million – and was 8.7% above our projection.

National Oilwell Varco’s strong backlog, which now stands at more than $7.7 billion, not only reflects steady demand from its customers but also offers long-term earnings and cash flow visibility. This enables it to navigate the current uncertain environment better than many of its peers.

Following the Gulf of Mexico oil spill, we expect the company to benefit from the near-term requirements of better offshore safety equipment. Stricter regulations on drilling could translate into enhanced opportunities for equipment suppliers like National Oilwell Varco.

The recent acquisition of Advanced Production and Loading PLC (“APL”) will further boost National Oilwell Varco’s earnings visibility by expanding its floating production storage and offloading vessel (“FPSO”) product line, one of the fastest-growing areas of the offshore market. The recent influx of offshore rig awards adds to the positive sentiment.

As such, we believe National Oilwell Varco is favorably positioned to continue accelerating revenue and earnings growth over the next few quarters.

Houston, Texas based National Oilwell Varco, formerly National Oilwell, is a world leader in the design, manufacture and sale of comprehensive systems, components, products and equipment used in oil and gas drilling and production worldwide.

The company reached its current form following the March 2005 merger between National Oilwell and Varco International. National Oilwell Varco organizes its operations in three business segments: Rig Technology, Petroleum Services & Supplies, and Distribution Services.

Wireline Equipment | Music Recording Equipment

The principal use of wireline equipment is in the oilfield industry. These can be mounted on trucks or skids and they consist of high pressure pumping equipment, cementing units, acidifying units and a lot of other units related to the oil field sector. There are distinct types of wireline equipment. The major ones are wireline trucks, wireline offshore skids and wireline trailers.

Wireline Trucks

Wireline trucks are self-sufficient wireline vehicles where cabinets are placed in the front for performing distinct operations. Unique recording equipment is placed at the back of a truck to acquire data from the oil fields, and transfer the data to the personal computer systems. 1 common kind of wireline truck is the Slickline truck.

Slickline trucks – These are the most versatile ones and locate a assortment of uses in the oilfield environment. They are mainly employed for logging data and can be employed for perforating purposes as well. The primary capabilities consist of the operating method at the back of the truck, a ‘hit it now’ drum method for quicker drilling actions and a nicely defined control panel. The drum speed can go up to 4,000 feet/minute and the pulling capacity is nearly 10,000 pounds.

Wireline off-shore Skids

Sometimes, wireline equipment has to be loaded on to skids when logging and drilling have to be performed in an offshore oil field. In such a case, single axle wireline equipment is utilised.

Single Axle equipment

The salient feature of this type of equipment lies in the truth, that it has a single hydraulic drum which is developed for heavy logging operations. There is a three speed manual gear to supply a variety of line speeds. Having 1 hydraulic drum is a large benefit because it can be quickly loaded onto skids for offshore oil field operations.

Wireline Trailers

They perform practically similar functions as compared to the trucks, but they are significantly larger in size. They are the best suited for hard weather conditions, specially the cold. The interior of these trailers is kept warm so that working at the control panel is possible. The most common type of wireline trailers is the Tandem trailer.

Tandem trailer – Tandem trailers are wireline equipment vehicles employed for heavy duty operations. They are bigger than the slickline trucks and can perform a wider range of tasks. The major feature of these trucks is that they can function in all sorts of weather conditions. Be it the tropical, arctic or desert conditions, these can be utilised for open-hole drilling purposes. The major capabilities of this truck include a 30 degree slope at the end, and a well insulated interior to fight various weather conditions. The noise level is very low and the control panel is nicely created for the numerous jobs it is capable of performing. It also has a 10 KW hydraulic generator. With a speed of rotation as low as 1,300 feet/minute as compared to other trucks, this wireline equipment is capable of pulling up a weight of over 12,500 pounds. Moreover, they can be customized according to user specifications.

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