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UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc.

Dril-Quip, Inc. · May 25, 2010 · 33 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. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 1
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 2
    Company Profile Pure Play in Deepwater Offshore Market Significant Operating Leverage Vertically Integrated, Low Cost Manufacturer Increasing Manufacturing Capacity Consistent Track Record of New Product Innovation Highly…
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 3
    Selected Highlights
  4. UBS GLOBAL OIL AND GAS 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. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 5
    Supplier to Key Offshore Operators
  6. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 6
    Worldwide Revenues and Backlog Revenue Backlog (mm) (mm) 700 700 600 543 540 603 496 600 563 500 443 500 429 400 341 400 336 300 300 248 200 200 100 100 0 0 2005 2006 2007 2008 2009 12/05 12/06 12/07 12/08 12/09
  7. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 7
    Proven Track Record of Profitability Net Income Net Income Margin * (mm) (%) 125 25 107.9 105.6 105.1 21.8 19.6 19.5 19.5 100 86.9 20 75 15 9.6 50 10 32.6 25 5 0 0 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 *…
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 8
    Condensed Consolidated Statements of Income Year Ended December 31, (Millions of USD) 2008 2009 Revenues 542.8 540.2 Cost and Expenses: Cost of sales 57.5% 312.3 57.4% 310.3 S, G & A expenses 62.4 60.7 Engineering expenses 26.4…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 9
    Condensed Consolidated Statements of Income Three Months Ended March31, (Millions of USD) 2009 2010 Revenues 127.5 142.5 Cost and Expenses: Cost of sales 56.5% 72.0 57.4% 81.8 S, G & A expenses 14.5 13.4 Engineering expenses 6.3…
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 10
    Condensed Consolidated Balance Sheets (Millions of USD) Dec. 31, Dec. 31, Assets 2008 2009 Current assets 514 617 Property, plant and equipment, net 166 200 Total assets 680 817 Liabilities and Stockholders Equity Current liabilities…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 11
    Condensed Consolidated Balance Sheets (Millions of USD) Dec. 31, March 31, Assets 2009 2010 Current assets 617 631 Property, plant and equipment, net 195 195 Other assets 5 10 Total assets 817 836 Liabilities and Stockholders Equity…
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 12
    Manufacturing Locations Aberdeen (14 ac. / 192,000 sq.ft.) Houston Eldridge (218 ac. / 1,289,000 sq.ft.) Singapore (3.4 ac. / 56,000 sq.ft.) Houston Hempstead (15 ac. / 175,000 sq.ft.) Brazil (10.0 ac. / 130,000 sq.ft.)
  13. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 13
    Vertically Integrated Manufacturing Purchase Raw Forge Materials Rough Machine Heat Treat Finishing Finishing Finishing Finishing Operations Operations Operations Operations Houston Aberdeen Singapore Brazil
  14. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 14
    Facilities Expansion Houston Adding machines both new & rebuilt Increasing forging capability Added Subsea Controls and Service buildings Brazil Construction complete on new buildings Space available to increase machine capacity…
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 15
    Houston Eldridge Manufacturing Facility
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 16
    Forge / Heat Treat
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 17
    Houston Finish Machine Shop
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 18
    Brazilian Facilities
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 19
    Singapore Facilities
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 20
    Future Revenues will be influenced by: Market conditions Pricing Product mix Increased number of machines Increased number of machinists
  21. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 21
    Prior Manufacturing Capacity Actual Actual Dec. 2008 Dec. 2009 Machines 224 239 Ratio 1.38 1.36 Machinists 310 325
  22. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 22
    Planned Machines & Possible Machinists Dec. 2010 Dec. 2011 Planned Machines 247 262 Realistic Ratio 1.60 1.60 Possible Machinists 396 420
  23. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 23
    Product and Services Summary 100% Internally Developed Products; 16 New Products over 28 Years Subsea Surface Offshore Rig Equipment Equipment Equipment Subsea Wellheads Surface Wellheads Wellhead Connectors Mudline Suspension…
  24. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 24
    Product Utilization / Installations 1 Specialty Connectors TLP Spar 2 Mudline Suspension 3 Surface Wellheads Jack-Up 4 Surface Trees 5 Subsea Wellheads Platform FPSO Semi Drillship 6 Wellhead Connectors 7 Subsea Trees 8 Completion Riser…
  25. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 25
    Subsea Control Systems
  26. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 26
    Subsea Manifolds
  27. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 27
    Integrated Offshore Solutions
  28. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 28
    Liner Hanger Systems
  29. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 29
    Increased Market Opportunities Growth products significantly increase the size of the market served. Market 6,000 Size 5,500 (mm) 5,000 5,000mm 5,000 4,500 4,000 3,500 3,000 2,500 2,500 mm 2,500 2,000 1,500 1,000 500…
  30. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 30
    Mobile Offshore Rig Count Semi-Submersibles & Drillships 340 310 314 310 297 280 268 250 239 220 Dec. 2009 Dec. 2010 Dec. 2011 Dec. 2012 Dec. 2013 Source: ODS-Petrodata Database, May 17, 2010
  31. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 31
    Worldwide Floating Production Units Forecast FPSOs, SPARs and TLPs 35 32 30 28 24 25 20 14 15 9 10 5 0 2009 2010E 2011E 2012E 2013E Source: Quest Subsea Database Q2 2010 Update, May 17, 2010
  32. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 32
    Worldwide Subsea Tree Forecast Subsea Tree Awards Forecast Base Case 600 489 458 450 382 319 310 300 150 2009 2010E 2011E 2012E 2013E Source: Quest Subsea Forecast Awards, May 17, 2010
  33. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 33
    Looking Ahead Focus on deepwater offshore sector Continue capacity expansion Increase market share of all products Continue introduction of new products Maintain strong financial condition

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