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GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc.

Dril-Quip, Inc. · Jun 25, 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. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc. GHS 100 Energy Conference San Francisco, California June 25, 2012
  2. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 4
    Subsea Well Systems Utilized on subsea wells drilled by floating rigs Subsea Wellheads Specialty Connectors Liner Hangers
  5. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 7
    Offshore Rig Equipment Utilized on Drilling Rigs Drilling Risers Wellhead Connectors Diverters
  8. GHS 100 ENERGY 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. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 9
    Suppliers Offshore Operators
  10. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 10
    Consistent Track Record of Growth Working Floating Rig Count Revenue (millions) Rig Count Source: ODS-Petrodata
  11. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 11
    Floating Rig Drilling Activity Remains Strong Working Floating Rigs Source: IHS Petrodata, BofA Merrill Lynch, Quest QSDB
  12. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 12
    Floating Rig Fleet and Capability Growth Source: IHS Petrodata, June 15, 2012 Assumes no attrition of rig fleet
  13. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 13
    Worldwide Floating Production Units Forecast FPSO, SPAR and TLP Awards Source: Quest Floating Production Database, May 30, 2012
  14. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 14
    Worldwide Subsea Tree Forecast Source: Quest Subsea Forecast Awards, May 30, 2012
  15. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY CONFERENCE – Dril-Quip, Inc. – slide 21
    Condensed Consolidated Statements of Income (000s of USD) 1Q 2011 1Q 2012 Revenues: 137,667 177,124 Cost & Expenses: Cost of Sales 58.2% 80,113 60.4% 107,050 S, G & A 18,261 20,432 Engineering 8,698 9,610 107,072 137,092 Operating…
  22. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY 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. GHS 100 ENERGY 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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