NOV Inc. — Director's Dealing 2010

Oct 27, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2010-10-27

Reporting Person: REESE MARK A (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-10-27	Common Stock	M	20000	$33.29	Acquired	72532	Direct
2010-10-27	Common Stock	M	20000	$35.225	Acquired	92532	Direct
2010-10-27	Common Stock	M	13333	$25.96	Acquired	105865	Direct
2010-10-27	Common Stock	S	4766	$51.51	Disposed	101099	Direct
2010-10-27	Common Stock	S	53333	$51.2726	Disposed	47766	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-10-27	Non-Qualified Stock Option (right to buy)	$25.96	M	13333	Disposed	2019-02-21	Common Stock (13333)	Direct
2010-10-27	Non-Qualified Stock Option (right to buy)	$33.29	M	20000	Disposed	2016-02-22	Common Stock (20000)	Direct
2010-10-27	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.