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

Dril-Quip, Inc. · May 25, 2011 · 37 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 & GAS CONFERENCE – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc. UBS Global Oil & Gas Conference Austin, Texas May May 25, 25, 2011 2011
  2. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 2
    Company Profile Pure play in offshore market Emphasis on deep water Manufacturing Vertically integrated Low-cost manufacturer Increased manufacturing capacity Track record of new product innovation Experienced management team
  3. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 3
    Consistent Track Record of Growth 300 600 250 500 Active Floater Rig Count 200 400 Revenue (millions) 150 300 100 200 50 100 0 0 1986 1985 1990 1990 1995 1995 2000 2000 2005 2005 2010 2010 Revenue Active…
  4. UBS GLOBAL OIL & 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 & GAS CONFERENCE – Dril-Quip, Inc. – slide 5
    Supplier to Key Offshore Operators
  6. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 6
    Recent Projects Announced Papa Terra TLP Dry Tree Completion Systems 100M contract with FloaTEC Subsea Wellhead Systems 28M contract with Petrobras Big Foot TLP contract with Chevron Subsea Wellheads, Specialty Connectors and…
  7. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 7
    Total Floater Rig Count Semi-Submersibles and Drillships 340 329 306 310 291 280 255 250 220 Dec. 2010 Dec. 2011 Dec. 2012 Dec. 2013 Source: ODS-Petrodata Database, May 18, 2011
  8. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 8
    Worldwide Floating Production Units Forecast Awards FPSOs, SPARs and TLPs 40 35 26 30 22 18 18 20 10 0 2010 2011E 2012E 2013E 2014E Source: Quest QFPD, Mar 10, 2011
  9. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 9
    Worldwide Subsea Tree Forecast Subsea Tree Awards Forecast Base Case 600 462 431 450 399 373 336 300 150 2010 2011E 2012E 2013E 2014E Source: Quest Subsea Forecast Awards, March 2, 2011
  10. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 10
    Products and Services Summary 100% internally developed products 16 products over 30 years Subsea Surface Offshore Rig Equipment Equipment Equipment Specialty Connectors Surface Wellheads Drilling Risers Mudline Suspension Surface…
  11. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 11
    Product Installations / Utilization 1 Specialty Connectors 2 Mudline Suspension Jack-Up Spar (5) TLP (8) 3 Subsea Wellheads (8) Platform 12 4 Tie-Back Connectors (7) 11 12 15 FPSO 11 15 Semi 11 Drillship 5 Template Systems 12 15…
  12. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 12
    Specialty Connectors
  13. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 13
    Subsea Wellheads
  14. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 14
    Dry Tree Completion Systems Surface Production Trees Unitized Surface Wellheads Production Risers Tie-Back Connectors Subsea Wellheads Specialty Connectors Liner Hangers
  15. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 15
    Subsea Completion Systems Subsea Production Trees Subsea Production Control Systems Subsea Manifolds Subsea Wellheads Specialty Connectors Liner Hangers
  16. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 16
    Offshore Rig Equipment Drilling Risers Wellhead Connectors Diverters
  17. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 17
    Manufacturing Locations Houston Eldridge (218 acres) Aberdeen (24 acres) Maca, Brazil (11 acres) Singapore (11 acres)
  18. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 18
    Vertically Integrated Manufacturing Purchase Raw Forge Materials Rough Machine Heat Treat Finishing Finishing Finishing Finishing Finishing Finishing Finishing Finishing Operations Operations Operations Operations…
  19. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 19
    Facilities Expansion Houston Adding machines both new and rebuilt Expanding forging capability Adding World Headquarters Building Aberdeen Purchased 7.3-acre adjacent site with 50,000 sq ft of buildings Singapore Facilities near…
  20. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 20
    Houston Eldridge Facilities World Headquarters Building
  21. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 21
    Forge / Heat Treat
  22. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 22
    Open Die Cell
  23. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 23
    Houston Machine Shop Turning
  24. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 24
    Houston Machine Shop Milling
  25. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 25
    Singapore Facilities
  26. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 26
    Maca, Brazil Facilities Site of 2nd Machine Shop
  27. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 27
    Brazilian Machine Shops
  28. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 28
    Prior Manufacturing Capacity Dec. 2009 Dec. 2010 Machines 239 247 Ratio 1.36 1.15 Machinists 325 283
  29. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 29
    Planned Machines and Possible Machinists Dec. 2010 Dec. 2011 Machines 247 265 (planned) Ratio 1.15 1.42 Machinists 283 375 (possible)
  30. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 30
    Future Revenues influenced by: World economics / market conditions Industry recovery from Gulf of Mexico incident Increased manufacturing capacity Product mix Pricing
  31. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 31
    Worldwide Revenues and Backlog Revenue Backlog (mm) (mm) 700 700 627 603 600 543 540 566 600 563 496 500 443 500 429 400 400 336 300 300 200 200 100 100 0 0 2006 2007 2008 2009 2010 12/06 12/07 12/08 12/09 12/10
  32. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 32
    Proven Track Record of Profitability Net Income Net Income Margin * (mm) (%) 125 25 21.8 107.9 105.6 105.1 102.2 19.6 19.4 19.5 100 86.9 20 18.1 75 15 50 10 25 5 0 0 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 *…
  33. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 33
    Condensed Consolidated Statements of Income Year Ended December 31, (Millions of USD) 2010 2009 Revenues 566.3 540.2 Cost and Expenses: Cost of sales 57.0% 322.6 57.4% 310.3 S, G & A expenses 61.1 55.5 Engineering expenses 29.2…
  34. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 34
    Condensed Consolidated Statements of Income Three Months Ended March 31, (Millions of USD) 2011 2010 Revenues 137.7 142.5 Cost and Expenses: Cost of sales 58.2% 80.1 57.4% 81.8 S, G & A expenses 18.3 13.4 Engineering expenses 8.7…
  35. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 35
    Condensed Consolidated Balance Sheets (Millions of USD) Mar. 31, Dec. 31, 2011 2010 Assets Current assets 719 688 Property, plant and equipment, net 263 247 Other assets 13 13 Total assets 995 948 Liabilities and Stockholders Equity…
  36. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 36
    Looking Ahead Focus on deepwater offshore sector Expand engineering, project management and project sales staff Continue introduction of new products Increase market share of all products Maintain strong financial condition
  37. UBS GLOBAL OIL & GAS CONFERENCE – Dril-Quip, Inc. – slide 37
    Dril-Quip, Inc. 13550 Hempstead Hwy. Houston, TX 77040 713-939-7711 www.dril-quip.com

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