NOV Inc. — Director's Dealing 2010

Nov 2, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2010-11-02

Reporting Person: BLANCHARD ROBERT W (VP Cntrlr Chf Acctg Offcr)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-02	Common Stock	M	20000	$33.29	Acquired	71535	Direct
2010-11-02	Common Stock	M	20000	$35.225	Acquired	91535	Direct
2010-11-02	Common Stock	M	10666	$25.96	Acquired	102201	Direct
2010-11-02	Common Stock	S	50666	$55	Disposed	51535	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-11-02	Non-Qualified Stock Option (right to buy)	$25.96	M	10666	Disposed	2019-02-21	Common Stock (10666)	Direct
2010-11-02	Non-Qualified Stock Option (right to buy)	$33.29	M	20000	Disposed	2016-02-22	Common Stock (20000)	Direct
2010-11-02	Non-Qualified Stock Option (right to buy)	$35.225	M	20000	Disposed	2017-03-02	Common Stock (20000)	Direct

Footnotes

F1: Options vest in three (3) equal annual installments commencing on the date indicated.