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WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc.

Dril-Quip, Inc. · Dec 5, 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. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc. Wells Fargo Energy Symposium New York, NY December 5, 2012
  2. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 4
    Subsea Well Systems Utilized on subsea wells drilled by floating rigs Subsea Wellheads Specialty Connectors Liner Hangers
  5. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 6
    Subsea Completion Systems Utilized with FPSOs and Subsea Developments Subsea Trees Control Systems Subsea Manifolds Subsea Wellheads Specialty Connectors Liner Hangers
  7. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 7
    Offshore Rig Equipment Utilized on Drilling Rigs Drilling Risers Wellhead Connectors Diverters
  8. WELLS FARGO ENERGY SYMPOSIUM – 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 Maca, Brazil Dril-Quip…
  9. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 9
    Suppliers Offshore Operators
  10. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 10
    Consistent Track Record of Growth Working Floating Rig Count Revenue (millions) Rig Count Source: ODS-Petrodata
  11. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 11
    Floating Rig Drilling Activity Remains Strong Working Floating Rigs Source: IHS Petrodata, BofA Merrill Lynch, Quest QSDB
  12. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 12
    Floating Rig Fleet and Capability Growth Source: IHS Petrodata, August 21, 2012 Assumes no attrition of rig fleet
  13. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 13
    Worldwide Floating Production Units Forecast FPSO, SPAR and TLP Awards Source: Quest Floating Production Database, Aug 21, 2012
  14. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 14
    Worldwide Subsea Tree Forecast Source: Quest Subsea Forecast Awards, Nov 19, 2012
  15. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 20
    Strong Balance Sheet Offers Flexibility (Millions of USD) Sep. 30, Dec. 31, Assets 2012 2011 Current assets 892 799 Property, plant and equipment, net 293 275 Other assets 11 12 Total assets 1,196 1,086 Liabilities and Stockholders…
  21. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 21
    Condensed Consolidated Statements of Income Nine Months Ended Sep. 30, (Thousands of USD) 2012 2011 Revenues 544,554 429,696 Cost and Expenses: Cost of Sales 61.9% 337,196 60.2% 258,600 S, G & A expenses 58,614 52,572 Engineering…
  22. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 22
    Revenues and Backlog Revenue (mm) Consistent revenue and backlog growth Backlog (mm) through industry cycles
  23. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 23
    Superior Margins vs. Peers* EBIT (Operating Income) Margin ** (%) Dril-Quip Average of Peer Group Superior margins due to: - Vertical integration - Machine rebuilding * Peer group includes AKSO, CAM & FTI ** Represents…
  24. WELLS FARGO ENERGY SYMPOSIUM – 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. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 25
    Looking Ahead Continued emphasis on the growing deepwater 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. WELLS FARGO ENERGY SYMPOSIUM – Dril-Quip, Inc. – slide 26
    DRIL-QUIP, Inc. DRIL-QUIP (Europe), Ltd. DRIL-QUIP Asia Pacific Pte., Ltd DRIL-QUIP do Brasil, Ltda. 6401 N. Eldridge Pkwy. Stoneywood Park 80 Tuas West Drive Estrada de Imboassica, 853 Houston, Texas, 77041 Dyce, Aberdeen, AB21 7DZ,…

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