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BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc.

Dril-Quip, Inc. · Sep 4, 2012 · 26 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc. BARCLAYS CEO Energy-Power Conference New York, New York September 4, 2012
  2. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 4
    Subsea Well Systems Utilized on subsea wells drilled by floating rigs Subsea Wellheads Specialty Connectors Liner Hangers
  5. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 7
    Offshore Rig Equipment Utilized on Drilling Rigs Drilling Risers Wellhead Connectors Diverters
  8. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 9
    Suppliers Offshore Operators
  10. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 10
    Consistent Track Record of Growth Working Floating Rig Count Revenue (millions) Rig Count Source: ODS-Petrodata
  11. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 11
    Floating Rig Drilling Activity Remains Strong Working Floating Rigs Source: IHS Petrodata, BofA Merrill Lynch, Quest QSDB
  12. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 12
    Floating Rig Fleet and Capability Growth Source: IHS Petrodata, August 21, 2012 Assumes no attrition of rig fleet
  13. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 13
    Worldwide Floating Production Units Forecast FPSO, SPAR and TLP Awards Source: Quest Floating Production Database, Aug 21, 2012
  14. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 14
    Worldwide Subsea Tree Forecast Source: Quest Subsea Forecast Awards, Aug 17, 2012
  15. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 17
    Manufacturing Locations Houston Headquarters expansion complete Additional forge expansion in process Houston Eldridge (218 acres) Two new machines planned for 2012 Brazil Additional machine shop complete Nine new machines…
  18. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 18
    Manufacturing Locations Aberdeen Seven acre site added in Q4 2010 - Integrated into Operation in 2011 Aberdeen, Scotland (24 acres) Singapore New facilities complete All machines relocated by Q2 2012 Five new machines planned…
  19. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 20
    Strong Balance Sheet Offers Flexibility (Millions of USD) Dec. 31, June 30, Assets 2011 2012 Current assets 799 852 Property, plant and equipment, net 275 287 Other assets 12 11 Total assets 1,086 1,150 Liabilities and Stockholders…
  21. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 21
    Condensed Consolidated Statements of Income (000s of USD) 1H 2011 1H 2012 Revenues: 274,661 353,694 Cost & Expenses: Cost of Sales 59.0% 162,113 60.9% 215,375 S, G & A 34,298 37,850 Engineering 17,227 19,088 213,638 272,313 Operating…
  22. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 23
    Superior Margins vs. Peers* EBIT (Operating Income) Margin ** (%) 35% 30% 26.8% 26.4% 24.6% 23.0% 25% 21.6% 20% 15% 10% 5% 0% 2008 2009 2010 2011 1H 2012 Dril-Quip Average of Peer Group Superior margins due to: - Vertical…
  24. BARCLAYS CAPITAL CEO ENERGY POWER 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. BARCLAYS CAPITAL CEO ENERGY POWER 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…
  26. BARCLAYS CAPITAL CEO ENERGY POWER CONFERENCE – Dril-Quip, Inc. – slide 26
    DRIL-QUIP Inc. DRIL-QUIP (Europe) Ltd. DRIL-QUIP Asia Pacific Pte. Ltd DRIL-QUIP do Brasil 6401 North Eldridge Stoneywood Park 80 Tuas West Drive Estrada de Imboassica, 853 Houston, Texas, 77041 Dyce, Aberdeen, AB21 7DZ, Singapore, 638417…

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