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

Dril-Quip, Inc. · May 23, 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. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc. UBS Global Oil & Gas Conference Austin, Texas May 23, 2012
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 2
    DRQ - Investment Highlights Pure play in worldwide offshore market Emphasis on deep water Strong backlog Superior margins Strong balance sheet Positioned for growth
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 3
    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…
  4. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 4
    Subsea Well Systems Utilized on subsea wells drilled by floating rigs Specialty Connectors Subsea Wellheads Liner Hangers
  5. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 5
    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
  6. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 6
    Subsea Completion Systems Utilized with FPSO and Subsea Developments Subsea Trees Control Systems Subsea Manifolds Subsea Wellheads Specialty Connectors Liner Hangers
  7. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 7
    Offshore Rig Equipment Utilized on Drilling Rigs Drilling Risers Wellhead Connectors Diverters
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 8
    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…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 9
    Suppliers Offshore Operators
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 10
    Consistent Track Record of Growth 300 700 600 250 Working Floating Rig Count 500 Revenue (millions) 200 400 150 300 100 200 50 100 0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Reveue…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 11
    Floating Rig Drilling Activity Remains Strong 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…
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 12
    Floating Rig Fleet and Capability Growth 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…
  13. UBS GLOBAL OIL AND GAS 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. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 14
    Worldwide Subsea Tree Forecast 600 500 400 300 200 100 0 2011 2012E 2013E 2014E 2015E Source: Quest Subsea Forecast Awards, Feb 20, 2012
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 15
    Vertically Integrated Manufacturing Purchase Raw Forge Materials Rough Machine Heat Treat Finishing Finishing Finishing Finishing Operations Operations Operations Operations Houston Aberdeen Singapore Brazil
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 16
    Machine Rebuilding Purchase used machines Rebuild in-house with new CNC controls Purpose built machines Resulting in reduced capital expenditures
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 17
    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…
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 18
    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…
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 19
    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
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 20
    Strong Balance Sheet Offers Flexibility (Millions of USD) Dec. 31, Mar. 31, Assets 2011 2012 Current assets 799 829 Property, plant and equipment, net 275 285 Other assets 12 12 Total assets 1,086 1,126 Liabilities and Stockholders…
  21. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 21
    Consolidated Statements of Income (000s of USD) 1Q 2011 1Q 2012 Revenues: 137,667 177,124 Cost & Expenses: Cost of Sales 80,113 107,050 S, G & A 18,261 20,432 Engineering 8,698 9,610 107,072 137,092 Operating Income (EBIT) 30,595…
  22. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 22
    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 through industry 603 627 cycles 600 563 429 400 200 0 2007 2008 2009…
  23. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 23
    Superior Margins vs. Peers* EBIT (Operating Income) Margin ** (%) 35% 29.6% 30% 26.8% 26.4% 24.6% 25% 21.6% 20% 15% 10% 5% 0% 2007 2008 2009 2010 2011 Dril-Quip Average of Peer Group Superior margins due to: -…
  24. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 24
    2012 Planned Capital Expenditures (Millions of USD) Machines 28 Rental Tools 17 Buildings 7 R&D Facilities 3 Other 5 Total 60
  25. UBS GLOBAL OIL AND GAS CONFERENCE – Dril-Quip, Inc. – slide 25
    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…

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