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TheStreet Open House

National Oilwell Varco Announces Management Changes

National Oilwell Varco, Inc. (NYSE:NOV) announced today that Mr. Loren Singletary has been promoted to Vice President Investor & Industry Relations, and Mr. David Reid has been promoted to Senior Vice President of Global Accounts & Chief Sales Officer.

Loren Singletary has worked in the oil service industry for over 30 years, including serving the Company as Vice President Global Accounts & Investor Relations for the past three years. Mr. Singletary joined National Oilwell Varco when it purchased LSI Specialty Electrical Products, where he was President and co-owner in 2003. Mr. Singletary also previously served as Vice President Marketing for Chance Collar Co., and served in various positions for the Drilco Division of Smith International. He is a director of Vanguard Natural Resources (NYSE:VNR) and serves as a director of the IntelliServ joint venture between National Oilwell Varco and Schlumberger.

David Reid has been in the oil industry for 22 years and has been with National Oilwell Varco and its predecessors for the past 19 years, serving most recently as the Vice President for E&P Technology and Business. Mr. Reid joined Varco International in 1992 serving in various positions through the company before becoming Vice President of Marketing and Business Development for Varco. Mr. Reid currently serves as a director of the IntelliServ joint venture between National Oilwell Varco and Schlumberger and serves as Vice President for Services of the IADC Executive Board. He also serves as the Chairman of the IADC Advanced Rig Technology Committee and is a founding member of the SPE Drilling Systems Automation Technical Section.

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

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