National Oilwell Varco completed the acquisition of Extract Companies from Riata Capital Group.

National Oilwell Varco, a worldwide provider of equipment and components used in oil and gas drilling and production operations, completed the acquisition of Extract Companies, a fully-integrated provider of artificial lift systems and related parts, from Riata Capital Group, a private equity firm. Financial terms were not disclosed. “We are entering an exciting period for Extract, as NOV is positioned to provide a platform for continued excellence in customer service. Extract’s reputation for market-leading customer service and focus on maximizing run-time of electric submersible pumps has established the company as a key partner for operators looking to maximize the economic returns of their assets,” Matt Gipson, NOV Senior Vice-President.