NOV Inc. — Director's Dealing 2011

Feb 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL OILWELL VARCO INC (NOV)
CIK: 0001021860
Period of Report: 2011-02-16

Reporting Person: REESE MARK A (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-16	Common Stock	M	11295	$44.07	Acquired	59061	Direct
2011-02-16	Common Stock	S	11295	$81.5022	Disposed	47766	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-16	Non-Qualified Stock Option (right to buy)	$44.07	M	11295	Disposed	2020-02-17	Common Stock (11295)	Direct

Footnotes

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