National Oilwell Varco, Houston, (NYSE: NOV) says it has reached an agreement with NorthBasin Energy Services Inc. for the use of its shallow leaching diamond cutter technology. Financial terms of the agreement were not disclosed.
ReedHycalog, a division of National Oilwell Varco, has patented the technology. In addition, the company designs, manufactures and sells roller cone and fixed cutter drill bits and drilling tools.