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JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc.

Dril-Quip, Inc. · Dec 1, 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. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 1
  2. JEFFERIES GLOBAL 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 Hi hl…
  3. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 3
    Selected Highlights
  4. JEFFERIES GLOBAL 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 Houston, Asia Pacific Headquarters Singapore Brazil…
  5. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 5
    Supplier to Key Offshore Operators
  6. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 6
    Worldwide Revenues and Backlog Revenue Backlog (mm) (mm) 700 700 625 600 543 540 603 496 600 563 500 443 500 429 400 341 400 336 300 300 200 200 100 100 0 0 2005 2006 2007 2008 2009 12/06 12/07 12/08 12/09 09/10
  7. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 7
    Proven Track Record of Profitability Net Income Net Income Margin g * (mm) (%) 125 25 107.9 105.6 105 6 105.1 21.8 105 1 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…
  8. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 8
    Condensed Consolidated Statements of Income Year ea Ended ded December ece be 331,, (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…
  9. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 9
    Condensed Consolidated Statements of Income Nine e Months o t s Ended ded Sept Sept. 30, (Millions of USD) 2009 2010 Revenues 398.9 424.7 Cost and Expenses: Cost of sales 57.1% 227.7 56.7% 240.8 S, G & A expenses 40.7 45.1…
  10. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 10
    Condensed Consolidated Balance Sheets Dec. 31, Dec. 31, ((Millions of USD)) 2008 2009 Assets Current assets 514 617 Property, plant and equipment, net 166 200 Total assets 680 817 Liabilities and Stockholders Equity Current liabilities…
  11. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 11
    Condensed Consolidated Balance Sheets Dec. 31, Sept. 30, (Millions of USD) 2009 2010 Assets Current assets 617 674 Property, plant and equipment, net 195 228 Other assets 5 10 Total assets 817 912 Liabilities and Stockholders Equity…
  12. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 12
    Manufacturing Locations Aberdeen (14 ac. / 192,000 sq.ft.) Houston Eldridge (218 ac ac. / 1 1,289,000 289 000 sq.ft.) sq ft ) Singapore (3.4 ac. / 56,000 sq.ft.) Houston Hempstead (15 ac ac. / 175 175,000 000 sq…
  13. JEFFERIES GLOBAL ENERGY 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. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 14
    Facilities Expansion Houston Adding machines both new & rebuilt Added Subsea Controls and Service buildings Increasing forging capability Aberdeen Purchased P h d adjacent dj t site it with ith 64 64,000 000 sq.ft. ft off…
  15. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 15
    Houston Eldridge Manufacturing Facility
  16. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 16
    Forge / Heat Treat
  17. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 17
    Houston Finish Machine Shop
  18. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 18
    Singapore Facilities
  19. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 19
    Brazilian Facilities
  20. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 20
    Future Revenues will be influenced by: Market conditions Pricing Product mix Increased c eased number u be oof machines ac es Increased number of machinists
  21. JEFFERIES GLOBAL ENERGY 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. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 22
    Planned Machines & Possible Machinists Dec. Dec. Dec. 2010 2011 2012 Planned Machines 247 267 304 Realistic Ratio 1.36 1.60 1.60 Possible Machinists 335 427 486
  23. JEFFERIES GLOBAL ENERGY 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. JEFFERIES GLOBAL ENERGY 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 C Completion l…
  25. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 25
    Subsea Control Systems
  26. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 26
    Subsea Manifolds
  27. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 27
    Integrated Offshore Solutions
  28. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 28
    Liner Hanger Systems
  29. JEFFERIES GLOBAL ENERGY 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 5,000 4,500 4,000 3,500 3,000 2,500 2,500 mm 2,500 2,000 1,500 1,000…
  30. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 30
    Mobile Offshore Rig g Count Semi-Submersibles & Drillships 340 312 3 307 310 293 280 260 250 239 220 Dec. 2009 Dec. 2010 Dec. 2011 Dec. 2012 Dec. 2013 Source: ODS-Petrodata Database, Nov 17, 2010
  31. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 31
    Worldwide Floating g Production Units Forecast FPSOs,, SPARs and TLPs 35 30 30 25 22 20 15 12 13 9 10 5 0 2009 2010E 2011E 2012E 2013E Source: Quest Subsea Database Q3 2010 Update, Nov 17, 2010
  32. JEFFERIES GLOBAL ENERGY CONFERENCE – Dril-Quip, Inc. – slide 32
    Worldwide Subsea Tree Forecast Subsea Tree Awards Forecast Base Case 600 454 450 393 319 308 299 300 150 2009 2010E 2011E 2012E 2013E Source: Quest Subsea Forecast Awards, Nov 17, 2010
  33. JEFFERIES GLOBAL ENERGY 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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