HOUSTON, March 23 /PRNewswire-FirstCall/ -- Dril-Quip, Inc. (NYSE: DRQ)
today announced that the Company has been awarded a two year contract valued
at up to approximately $80 million to supply Dril-Quip's 15,000 p.s.i. and
20,000 p.s.i. proprietary Big Bore Subsea Wellhead Systems for BP America's
Gulf of Mexico operations. At the option of BP America, this contract may be
extended for three additional years. The initial orders under the contract
are valued at approximately $26 million and will be included in Dril-Quip's
backlog at the end of the first quarter of 2009.
Dril-Quip is a leading manufacturer of highly engineered offshore drilling
and production equipment which is well suited for use in deepwater, harsh
environment and severe service applications. Dril-Quip's latest investor
presentation is available under the investor section of the Company's website
at http://www.dril-quip.com.
SOURCE Dril-Quip, Inc.
03/23/2009
CONTACT: Jerry M. Brooks, Chief Financial Officer of Dril-Quip, Inc.
+1-713-939-7711
Web Site: http://www.dril-quip.com
(DRQ)
