DNOW

DNOW Inc., formerly National Oilwell Varco Distribution, distributes oilfield supplies, tools, and equipment to upstream oil and gas operators and service companies. The company provides maintenance, repair, and operations supplies, pipes, valves, fittings, drilling tools, production equipment, and other products through distribution centers and field locations. DNOW serves energy companies requiring equipment and consumables for drilling, completion, production, and maintenance operations. The company operates across the United States and internationally, providing product availability, logistics, and technical expertise to oilfield customers. Headquartered in Houston, Texas, DNOW was spun off from National Oilwell Varco in 2014 to operate independently as a distribution company. The company benefits from supplier relationships, distribution infrastructure, technical knowledge, and customer relationships built over decades. DNOW faces intense cyclicality tied to oil and gas drilling and production activity, margin pressures from customer consolidation and competitive markets, working capital intensity, and energy transition uncertainties. The company has worked to improve profitability, reduce costs, and adapt to challenging oilfield services markets. DNOW continues to serve energy customers while managing through commodity price cycles and industry evolution.