Grant Prideco

… past few years, with debt/capital below 10% since 2008. The firm also rapidly repaid the debt incurred with the Grant Prideco acquisition within a year. That said, we do think National Oilwell Varco has been underleveraged for the past few …

… rig stores on rigs, consistent acquisition activity that extends the firm's product line into new niches (APL, Grant Prideco ), and the complete integration of all its rig equipment into a single operating system, which should boost rig performance …

… carry a more pristine balance sheet, as it quickly repaid more than $2 billion in debt related to the acquisition of Grant Prideco in 2008 in a little less than a year. While the company paid out a special one-time dividend of $417 million last …

… IntelliServ network, a high-speed drill string telemetry system. The technology (which was originally part of the Grant Prideco acquisition) offers real-time monitoring of the drill string conditions at about 56 kilobits per second. This is …

… value estimate. There are several short-term trends we'd like to highlight. First, the initial integration of Grant Prideco appears to be progressing smoothly, although it could take a few more quarters for the two firms to fully mesh, in …

… billion, up 39% over last year. Operating profit was $692 million, also up 39%. If we adjust for the effect of the Grant Prideco acquisition completed during the quarter, revenue was up 21% from the previous year. The company obtained another …

… continue for some time, given the ancient global rig fleet. Further, the company recently closed its acquisition of Grant Prideco . We had anticipated robust results, and consequently, we are leaving our fair value estimate unchanged.