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HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc.

Dril-Quip, Inc. · Mar 22, 2010 · 32 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 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 1
  2. HOWARD WEIL 38TH ANNUAL ENERGY 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. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 3
    Selected Highlights
  4. HOWARD WEIL 38TH 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 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 5
    Supplier to Key Offshore Operators
  6. HOWARD WEIL 38TH ANNUAL ENERGY 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. HOWARD WEIL 38TH ANNUAL ENERGY 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. HOWARD WEIL 38TH ANNUAL ENERGY 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. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 9
    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…
  10. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 10
    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.)
  11. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 11
    Vertically Integrated Manufacturing Purchase Raw Forge Materials Rough Machine Heat Treat Finishing Finishing Finishing Finishing Operations Operations Operations Operations Houston Aberdeen Singapore Brazil
  12. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 12
    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…
  13. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 13
    Houston Eldridge Manufacturing Facility
  14. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 14
    Forge / Heat Treat
  15. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 15
    Houston Finish Machine Shop
  16. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 16
    Brazilian Facilities
  17. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 17
    Singapore Facilities
  18. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 18
    Future Revenues will be influenced by: Market conditions Pricing Product mix Increased number of machines Increased number of machinists
  19. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 19
    Prior Manufacturing Capacity Actual Actual Dec. 2008 Dec. 2009 Machines 224 239 Ratio 1.38 1.36 Machinists 310 325
  20. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 20
    Planned Machines & Possible Machinists Dec. 2010 Dec. 2011 Planned Machines 247 262 Realistic Ratio 1.60 1.60 Possible Machinists 396 420
  21. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 21
    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…
  22. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 22
    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…
  23. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 23
    Subsea Control Systems
  24. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 24
    Subsea Manifolds
  25. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 25
    Integrated Offshore Solutions
  26. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 26
    Liner Hanger Systems
  27. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 27
    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…
  28. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 28
    Mobile Offshore Rig Count Semi-Submersibles and Drillships 350 309 313 296 300 269 250 239 200 150 100 50 0 Dec. 2009 Dec. 2010E Dec. 2011E Dec. 2012E Dec. 2013E Source: ODS-Petrodata Database, March 10, 2010
  29. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 29
    Worldwide Floating Production Units Forecast FPSOs, Semis, SPARs and TLPs 35 30 30 28 25 22 20 15 15 9 10 5 0 2009 2010E 2011E 2012E 2013E Source: Quest Subsea Database, Feb 2010
  30. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 30
    Worldwide Subsea Trees Forecast Subsea Tree Awards Forecast Base Case 600 477 437 450 330 298 300 280 150 2009 2010E 2011E 2012E 2013E Source: Quest Subsea Forecast Awards, Feb 2010
  31. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 31
    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
  32. HOWARD WEIL 38TH ANNUAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 32

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