National-Oilwell Varco 8-K 2015
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
December 29, 2015 (December 28, 2015)
Date of Report (Date of earliest event reported)
NATIONAL OILWELL VARCO, INC.
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: 713-346-7500
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 8.01 Other Events.
On December 28, 2015, National Oilwell Varco Norway AS (NOV Norway), a wholly-owned subsidiary of National Oilwell Varco, Inc. (the Company), consummated a settlement with Estaleiro Atlantico Sul S.A. and EAS International, Inc. concerning seven (7) contracts for the supply of drilling equipment packages for drillship construction projects in Brazil (collectively the Supply Contracts).
Pursuant to the terms of the settlement, the Supply Contracts have been terminated. The Company does not expect to take any charge as a result of the settlement; however the Company will reduce the Rig Systems segment backlog by $1.1 billion this quarter.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.