National Oilwell Appoints Roger Jarvis to Board of Directors
HOUSTON--(BUSINESS WIRE)--Feb. 20, 2002--National-Oilwell, Inc. (NYSE:NOI) today announced that Roger L. Jarvis, chairman, president and chief executive officer of Spinnaker Exploration Company (NYSE:SKE), has been appointed to National Oilwell's board of directors. Mr. Jarvis fills a vacancy on the board, and his term will expire at the 2004 annual meeting.
Jarvis, 47, has served as president and CEO of Spinnaker since he founded that company in 1996 and has served as its chairman since 1998. Engaged in the exploration, development and production of natural gas and oil in the U.S. Gulf of Mexico, Spinnaker is one of the fastest-growing and most successful companies in the Gulf. From 1986 to 1994, Mr. Jarvis served in various capacities with King Ranch Inc. and its subsidiary, King Ranch Oil and Gas, Inc., including chief executive officer, president and director of King Ranch Inc. and chief executive officer and president of King Ranch Oil and Gas, Inc., where he expanded its activities in the Gulf of Mexico.
Pete Miller, National Oilwell's president and chief executive officer, said "We are extremely pleased to welcome Roger Jarvis to the National Oilwell board of directors. I know the Company will benefit from his outstanding record of industry experience and accomplishment."
National Oilwell is a worldwide leader in the design, manufacture and sale of comprehensive systems and components used in oil and gas drilling and production, as well as in providing supply chain integration services to the upstream oil and gas industry.
Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to documents filed by National Oilwell with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.
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| CONTACT: | National-Oilwell, Inc., Houston |
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| Steve Krablin, 713/346-7773 | |