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HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc.

Dril-Quip, Inc. · Mar 26, 2012 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc. Howard Weil 40th Annual Energy Conference March 26, 2012
  2. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 2
    DRQ - Investment Highlights Pure play in worldwide offshore market Emphasis on deep water Strong balance sheet Strong backlog Superior margins Positioned for growth
  3. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 3
    Consistent Track Record of Growth 300 700 600 250 Active Floating Rig Count Revenue (millions) 500 200 400 150 300 100 200 50 100 - 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Active Floating…
  4. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 4
    Strong Global Presence Worldwide offices located near key demand centers Eastern Hemisphere Headquarters Aberdeen, Scotland World Headquarters Houston, Texas Asia Pacific Headquarters Singapore Brazil Dril-Quip…
  5. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 5
    Suppliers Offshore Operators
  6. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 6
    Product and Services Summary Subsea Equipment 1 Specialty Connectors 2 Mudline Suspension Jack-Up Spar 3 Subsea Wellheads TLP 4 Tie-Back Connectors Platform 13 17 13 17 5 Template Systems 12 12 14 Drillship 13 FPSO 12 14 Semi 6…
  7. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 7
    Subsea Well Systems Utilized on subsea wells drilled by floating rigs Specialty Connectors Subsea Wellheads Liner Hangers
  8. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 8
    Dry Tree Completion Systems Utilized by Spars and TLPs Surface Trees Surface Wellheads Riser Tensioners Production Risers Tie-Back Connectors Subsea Wellheads Specialty Connectors Liner Hangers
  9. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 9
    Subsea Completion Systems Utilized with FPSO and Subsea Developments Subsea Trees Control Systems Subsea Manifolds Subsea Wellheads Specialty Connectors Liner Hangers
  10. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 10
    Offshore Rig Equipment Utilized on Drilling Rigs Drilling Risers Wellhead Connectors Diverters
  11. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 11
    Total Subsea Wells Drilled 300 800 700 250 600 Number of Floating Rigs 200 500 Number of Wells /Trees 150 400 300 100 200 50 100 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Working Floating…
  12. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 12
    Growth of Floating Rig Fleet 400 9000 Average Floating Rig Operating Water Depth (ft) 350 8500 300 8000 Number of Floating Rigs 250 7500 200 7000 150 6500 100 6000 50 5500 0 5000 2004 2005 2006 2007 2008 2009…
  13. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 13
    Worldwide Floating Production Units Forecast FPSO, SPAR and TLP Awards 30 25 20 15 10 5 0 2011 2012E 2013E 2014E 2015E 2016E Source: Quest Floating Production Database, Mar 21, 2012
  14. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 14
    Worldwide Subsea Tree Forecast Subsea Tree Awards Forecast Base Case 600 500 400 300 200 100 0 2011 2012E 2013E 2014E 2015E Source: Quest Subsea Forecast Awards, Feb 20, 2012
  15. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 15
    Condensed Consolidated Balance Sheets (Millions of USD) Dec. 31, Dec. 31, Assets 2011 2010 Current assets 799 688 Property, plant and equipment, net 275 247 Other assets 12 13 Total assets 1,086 948 Liabilities and Stockholders Equity…
  16. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 16
    Worldwide Revenues and Backlog Revenue (mm) 800 601 600 543 540 566 496 400 200 0 Consistent revenue 2007 2008 2009 2010 2011 and backlog growth Backlog (mm) 800 716 603 627 600 563 429 400 200 0 2007 2008 2009 2010 2011
  17. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 17
    Proven Track Record of Profitability EBIT (Operating Income) Margin * (%) 30 27.9 26.1 26.3 24.5 25 21.6 20 15 10 Superior margins due to: 5 0 2007 2008 2009 2010 2011 - Vertical integration Net Income Margin ** (%) - Machine…
  18. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 18
    Vertically Integrated Manufacturing Purchase Raw Forge Materials Rough Machine Heat Treat Finishing Finishing Finishing Finishing Operations Operations Operations Operations Houston Aberdeen Singapore Brazil
  19. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 19
    Machine Rebuilding Purchase used machines Rebuild in-house with new CNC controls Purpose built machines Resulting in reduced capital expenditures
  20. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 20
    Manufacturing Locations Houston Headquarters expansion complete Additional forge expansion in process Houston Eldridge (218 acres) Four new machines planned for 2012 Brazil Additional machine shop complete Nine new machines…
  21. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 21
    Manufacturing Locations Aberdeen Seven acre site added in Q4 2010 - Integrated into Operation in 2011 Two new machines planned for 2012 Aberdeen, Scotland (24 acres) Singapore New facilities complete All machines relocated by…
  22. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 22
    Machines and Machinists 400 1.50 350 1.40 300 1.30 Number Ratio 250 1.20 200 1.10 150 1.00 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 E Machines Machinists Ratio
  23. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 23
    2012 Planned Capital Expenditures (Millions of USD) Machines 28 Rental Tools 17 Buildings 7 R&D Facilities 3 Other 5 Total 60
  24. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 24
    Looking Ahead Continued emphasis on the growing deep water offshore sector Increase market share of dry tree and subsea completion systems Expand engineering staff Expand project management and sales staff Utilization of recent…
  25. HOWARD WEIL 40TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 25
    DRIL-QUIP Inc. DRIL-QUIP (Europe) Ltd. DRIL-QUIP Asia Pacific Pte. Ltd DRIL-QUIP do Brasil 6401 North Eldridge Stoneywood Park 80 Tuas West Drive Estrada de Imboassica, 853 Houston, Texas, 77041 Dyce, Aberdeen, AB21 7DZ, Singapore, 638417…

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