NOV Announces Sale of Advanced Nuclear Development Company Shepherd Power to Natura Resources in Stock for Stock Transaction

Rhea-AI Summary

NOV (NYSE:NOV) announced the sale of its advanced nuclear development company Shepherd Power to Natura Resources and will become an investor in Natura while appointing a board representative.

NOV and Natura signed an MOU for a supply chain agreement in which NOV will provide manufacturing, procurement and project management support to help deploy Natura’s 100-megawatt molten salt reactor units targeting data center and industrial markets starting in 2029 and reaching scale in 2032.

Positive

• NOV becomes investor in Natura and gains board representation
• MOU signed to provide NOV manufacturing and project management support
• 100-megawatt units targeted for deployment beginning in 2029
• Scale target for deployments set for 2032

Negative

• No financial terms disclosed for the Shepherd Power sale or NOV investment

Key Figures

Reactor unit size 100 megawatts Planned molten salt reactor units for data center and industrial markets

Initial deployment year 2029 Target start for deploying 100-megawatt molten salt reactor units

Scale target year 2032 Year by which Natura aims to reach scaled deployment

Deployment horizon 5 years Goal to deliver gigawatts of advanced nuclear reactors within next 5 years

Market Reality Check

$16.54 Last Close

Volume Volume 3,976,159 is very close to the 20-day average of 3,958,349, indicating typical trading activity ahead of this announcement. normal

Technical Shares trade above the 200-day MA of $13.44 at a price of $16.54, reflecting a sustained uptrend into the news.

Peers on Argus

Peers show mixed moves: WFRD up 2.02%, AROC up 2.72%, while CHX, VAL, and LB are down between 1–3%, suggesting today’s setup for NOV is more stock-specific than a broad sector trend.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 20	Dividend declaration	Positive	-5.5%	Announced regular quarterly cash dividend of $0.075 per share.
Nov 19	Leadership change	Neutral	-5.5%	Announced CEO retirement and appointment of Jose Bayardo as successor.
Nov 17	AI collaboration	Positive	-4.5%	Unveiled AI-powered edge solutions collaboration with Armada for industrial sites.
Oct 27	Earnings and board	Negative	+0.8%	Reported Q3 2025 with lower YoY earnings and guided Q4 revenue decline.
Sep 29	Earnings call notice	Neutral	-1.7%	Scheduled Q3 2025 earnings conference call and results release dates.

Pattern Detected

Recent news events often saw negative price reactions, even to seemingly constructive updates, suggesting a tendency for the stock to trade cautiously around announcements.

Recent Company History

Over the last few months, NOV reported Q3 2025 results with $2.18B revenue, lower year-on-year earnings, and solid cash flow generation, while also signaling softer Q4 guidance. The company announced a leadership transition, naming Jose Bayardo as future CEO, and maintained capital returns via a $0.075 quarterly dividend. An AI-focused collaboration with Armada highlighted diversification into digital solutions. Against this backdrop, today’s news extends NOV’s strategy into advanced nuclear power through the Shepherd Power sale and long-term collaboration with Natura.

Market Pulse Summary

The stock is up +6.4% following this news. A strong positive reaction aligns with NOV’s push into adjacent energy technologies. The sale of Shepherd Power while retaining a board seat at Natura deepened exposure to advanced nuclear without abandoning capital discipline. Historical news often saw negative reactions despite constructive content, so a gain of 5%+ would have marked a break from that pattern. Investors would still have monitored leadership transition risk and execution on the nuclear supply-chain role as potential swing factors.

Key Terms

memorandum of understanding regulatory

"NOV and Natura have signed an MOU to establish a supply chain agreement"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

small modular reactor technical

"Natura, a leading developer of advanced small modular reactor (“SMR”) technology."

A small modular reactor is a compact nuclear power plant designed to generate electricity in smaller amounts compared to traditional reactors. It can be built in factories, then transported and assembled on-site, making it quicker and often cheaper to deploy. For investors, these reactors represent a potential source of clean energy with lower upfront costs and flexible scaling, which could influence future energy markets and infrastructure investments.

AI-generated analysis. Not financial advice.

• NOV becomes investor in Natura Resources (“Natura”) and appoints representative to Natura’s Board of Directors in conjunction with the sale of Shepherd Power
• NOV and Natura sign Memorandum of Understanding (“MOU”) to establish a supply chain agreement where NOV will leverage its manufacturing, supply chain, and project management expertise to support scaling advanced nuclear power solutions

HOUSTON, Dec. 10, 2025 (GLOBE NEWSWIRE) -- NOV Inc. (NYSE: NOV) today announced the sale of Shepherd Power, its advanced nuclear development company, to Natura, a leading developer of advanced small modular reactor (“SMR”) technology. As part of the transaction, NOV and Natura have signed an MOU to establish a supply chain agreement where NOV will provide manufacturing and project management expertise to support scaled deployment of Natura’s advanced nuclear reactors.

Specifically, the supply chain agreement is expected to support Natura’s plans to deploy 100-megawatt molten salt reactor units for data center and industrial markets starting in 2029 and reaching scale in 2032. The cooperation will leverage NOV’s manufacturing footprint and procurement expertise alongside Natura’s reactor platform.

“The power market is one of the most significant industrial growth opportunities of the next decade,” said Jose Bayardo, President and COO of NOV. “Our collaboration with Natura allows NOV to bring its unmatched manufacturing and project management capabilities into an adjacent sector that demands the same rigor, scale, and reliability we have delivered to energy customers for more than a century. We believe that Natura’s technology will be one of the first advanced reactors commercially available in the United States. Natura’s molten salt reactor design incorporates critical safety features and leverages the existing uranium supply chain, enabling the ability to scale manufacturing of reactors that can economically produce heat and power.”

“This strategic transaction will accelerate commercialization of our molten salt reactor technology and enhance our ability to offer comprehensive power solutions to customers,” said Doug Robison, Founder and CEO of Natura Resources. “Shepherd Power is a leading voice in the advanced nuclear regulatory space, having significantly contributed to commercial licensing clarity with federal and state regulators and has expertise in the requirements to site, build, own and operate reactors. Combined with NOV’s expertise in scaling highly engineered equipment to drive down delivery costs, this transaction positions us to lead in delivering gigawatts of safe, advanced nuclear reactors within the next 5 years to support critical power needs and fuel American A.I. leadership.”

Natura is developing molten salt SMR technology, engineered for use at modern datacenters supporting artificial intelligence expansion, large industrial micro-grid applications, and industrial heat installations. Shepherd Power, founded by NOV, has catalyzed regulatory and licensing reform at the federal and state level. Its integration into Natura unites complementary capabilities focused on commercial reactor deployment. As part of the transaction, NOV will become an investor in Natura and will appoint a representative to Natura’s Board of Directors, ensuring continued collaboration in advanced nuclear technologies.

About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely and efficiently produce abundant energy while minimizing environmental impact. NOV powers the industry that powers the world.

Visit www.nov.com for more information.

About Natura Resources
Natura Resources LLC is a leading advanced small modular reactor developer committed to answering increasing domestic and global demands for reliable energy, medical isotopes, and clean water. Natura's reactors are liquid-fueled and molten salt-cooled, which enhances safety and reduces waste. With the first construction permit for a liquid-fueled reactor from the NRC, Natura has established itself as a leading force in the advanced nuclear industry, fueled by a commitment to support America’s energy future. The company is privately owned and has secured more than $120 million in private funding and a commitment of $120 million from the State of Texas.

Visit www.naturaresources.com for more information.

Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995
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 the actual future events or results. Readers are referred to documents filed by NOV 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. These statements speak only as of the date of this document, and we undertake no obligation to update or revise the statements, except as may be required by law.

Source: NOV Inc.

CONTACT:
Amie D’Ambrosio
Director, Investor Relations
(713) 375-3826
amie.dambrosio@nov.com

FAQ

What did NOV announce about Shepherd Power and Natura on December 10, 2025?

NOV sold Shepherd Power to Natura, will invest in Natura and appoint a board representative, and signed an MOU for supply chain support.

What reactors will Natura and NOV aim to deploy and when will deployment start (NOV)?

They plan to deploy 100-megawatt molten salt reactor units with deployments starting in 2029.

How does the MOU between NOV and Natura affect NOV's role (NYSE:NOV)?

Under the MOU NOV will provide manufacturing, procurement and project management expertise to support scaled reactor deployment.

What markets are Natura’s molten salt SMR units aimed at according to NOV?

The units are aimed at data centers supporting AI, large industrial micro-grids and industrial heat applications.

When does Natura expect to reach scale for reactor deployments (NOV/Natura)?

Natura and NOV target reaching scale by 2032.