NOV (National Oilwell Varco) Financing
Finance NOV drilling rigs, top drives, and mud pumps. short-app financing to $400k, funded in days. B/C credit considered. Get a quote today.
NOV iron moves basins. The company's drilling rigs, top drives, and triplex mud pumps sit at the core of land drilling across the Permian, Haynesville, Marcellus, and Bakken. Operators who can put that equipment to work fast capture day rates; operators waiting on slow capital watch the spread go to a competitor. We finance NOV equipment for drilling contractors, well-service companies, and rental yards that need funding structured around how oilfield assets actually perform.
Our minimum is $50,000 and the sweet spot runs $100,000 to $150,000 and above. Short-form approval is available up to roughly $400,000. Used NOV assets finance just as readily as new units, and B/C credit situations are part of what we handle. Funding typically completes in about field-ticket review after a completed application.
NOV Equipment We Finance
National Oilwell Varco's catalog covers virtually every load-bearing component of a drilling spread. The company's Ideal Rig series runs from mechanical to SCR to AC-drive configurations, with hookload ratings that range from small single-well workhorses to large-capacity multi-well pad rigs. Top drives in the TDS and Quanta lines handle torque ratings from 37,500 foot-pounds up into ranges that support extended-reach laterals. Triplex mud pumps, including the NOV 12-P-160 and the NOV 14-P-220, are the circulation workhorses on most contractor spreads.
We also finance NOV's TDS-11SA top drive, iron roughnecks, pipe-handling equipment, and blowout prevention stacks. Each asset class carries different collateral characteristics and different resale markets, and we underwrite accordingly rather than treating all steel the same way.
For operators building or expanding a drilling rig fleet, we can structure single-asset transactions or multi-asset packages. If a rig component purchase comes with ancillary tools, we can often fold the package into one approval rather than requiring separate applications for each line item.
New Units vs. Pre-Owned NOV Iron
A substantial portion of the NOV equipment market is pre-owned. Rigs that were stacked during a downcycle get reactivated, top drives move between contractors as spreads get rebuilt, and mud pumps trade in private-party transactions between service companies. Pre-owned NOV iron at $150,000 to $500,000 is where many mid-sized contractors build their first owned spread rather than relying on rental.
We finance used NOV equipment with the same application-to-funding timelines as new. The key factors are the asset's condition, whether it has a recent inspection or rebuild record, and the borrower's business profile. An operator with two years of oilfield contracting history and three months of bank statements showing basin-level revenue can move through our process efficiently regardless of whether the iron is new or pre-owned.
For used equipment financing on pre-owned NOV assets, we work from invoices, private-party sales agreements, or auction documentation. Dealer purchases and direct-from-seller deals both qualify.
Refinancing and Sale-Leaseback on NOV Equipment
Contractors who own NOV assets outright or carry a small remaining balance have capital sitting idle in steel. A Equipment Sale-Leaseback converts that equity into working capital without moving the equipment off the yard. The operator sells the asset to a lender, receives cash, and leases the unit back under a defined payment schedule. The rig or pump never leaves service; the cash goes to bid bonds, payroll, or expanding the fleet.
Cash-out refinancing works similarly for assets with an existing lien. If the payoff is well below the current market value, a cash-out refinance clears the old note and puts the difference in the borrower's account. Both structures require recent operating statements and a completed application. Approval timelines match standard purchases: roughly one to two weeks.
Who We Work With
The operators financing NOV equipment through us range from small independents adding a second rig to mid-market contractors rebuilding a stacked spread. We work with drilling contractors across Permian, Eagle Ford, Haynesville, and Appalachian plays, as well as well servicing companies picking up NOV workover and service rig components.
Startups and newer businesses can access startup equipment financing on NOV assets where the deal economics are sound. Credit history that includes past industry downturns, restructurings, or prior slow-pay events gets evaluated against current business performance rather than written off automatically. We consider B/C credit situations as a normal part of the oilfield lending landscape.
Get a Quote on NOV Equipment
A completed application and three months of bank statements are what it takes to start. Funding typically takes about one to two weeks. If the basin is busy, do not let capital pace be the reason the spread sits idle.
Questions before you send the file.
Straight answers about nov (national oilwell varco) financing, documentation, timing, and equipment eligibility.
Can I finance a used NOV top drive purchased from another contractor?
Yes. Private-party transactions are a common source of NOV equipment. We work from the bill of sale and a recent inspection or service record. The process mirrors a dealer purchase: application, three months of bank statements, documentation on the asset, and approval in roughly one to two weeks.
What documents do I need to finance an NOV rig or mud pump?
A completed credit application and three months of business bank statements cover most transactions up to approximately $400,000. Larger deals or those with more complex structures may require additional financial information. We will tell you exactly what is needed once we review the initial application.
Does my drilling company need to be profitable to qualify?
Profitability helps but a single profitable year is not the only path. We look at cash flow, time in business, current basin activity, and the asset's collateral value. Operators coming out of a slow cycle with improving revenue are the kind of situation we evaluate on the full picture rather than a snapshot.
Can I bundle multiple NOV assets into one approval?
Often yes. If you are purchasing a mud pump, iron roughneck, and a top drive from the same seller or as part of a rig package, we can frequently structure a single transaction covering the full package. This simplifies documentation and produces one payment rather than three.
What if the NOV equipment I want is at an auction?
Auction purchases can be financed. Pre-approval before the auction puts you in a strong position. We can work from the auction's title documentation once the hammer falls, and a conditional approval in hand before bidding gives you a ceiling to work within.
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Send the asset details, seller quote, and target timing. We will review the request and tell you what documentation is needed next.