NOV Inc. — Director's Dealing 2011

Jul 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2011-07-27

Reporting Person: REESE MARK A (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-27	Common Stock	M	20000	$64.16	Acquired	73121	Direct
2011-07-27	Common Stock	S	20000	$81	Disposed	53121	Direct
2011-07-27	Common Stock	S	3178	$81	Disposed	49943	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-27	Non-Qualified Stock Option (right to buy)	$64.16	M	20000	Disposed	2018-02-20	Common Stock (20000)	Direct

Footnotes

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