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GHS 100 Energy Conference – Dril-Quip, Inc.

Dril-Quip, Inc. · Jun 26, 2013 · 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. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 1
    Dril-Quip, Inc .. GHS 100 Energy Conference June 24th 26th, 2013 Chicago, Illinois
  2. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 2
    DRQ Investment Highlights Pure play in worldwide offshore market Deepwater focus Strong backlog continues to grow Superior margins Strong balance sheet Prepared for growth
  3. GHS 100 Energy 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. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 4
    Subsea Well Systems Utilized on subsea wells drilled by floating rigs Subsea Wellheads Specialty Connectors Liner Hangers
  5. GHS 100 Energy 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. GHS 100 Energy Conference – 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. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 7
    Offshore Rig Equipment Utilized on Drilling Rigs Wellhead Connectors Drilling Risers Diverters
  8. GHS 100 Energy 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 Maca, Brazil Dril-Quip…
  9. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 9
    Suppliers Offshore Operators
  10. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 10
    Consistent Track Record of Growth Rig Count Source: ODS-Petrodata
  11. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 11
    Floating Rig Fleet and Capability Growth Source: IHS Petrodata, February 18, 2013 Assumes no attrition of rig fleet
  12. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 12
    Floating Rig Drilling Activity Remains Strong Source: IHS Petrodata, BofA Merrill Lynch, Quest QSDB
  13. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 13
    Worldwide Floating Production Units Forecast FPSO, Spar and TLP Awards 30 25 20 15 10 5 0 2011A 2012A 2013E 2014E 2015E 2016E Source: Quest Floating Production Database, Mar 12, 2013
  14. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 14
    Worldwide Subsea Tree Forecast Source: Quest Subsea Forecast Awards, Feb 22, 2013
  15. GHS 100 Energy 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. GHS 100 Energy 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. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 17
    Manufacturing Locations Houston Forge & Heat Treat expansion scheduled for completion Q4 2013 Houston Eldridge (218 acres) Brazil 6 new machines planned for 2013 Maca, Brazil (11 acres)
  18. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 18
    Manufacturing Locations Aberdeen Additional seven-acre renovation to include: Offices Test & Assembly building 1 new machine planned Aberdeen, Scotland (24 acres) for 2013 Singapore 4 new machines planned for 2013…
  19. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 19
    Machines and Machinists 450 1.50 1.45 400 1.40 1.35 350 Number 1.30 Ratio 300 1.25 1.20 250 1.15 1.10 200 1.05 150 1.00 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13E Machines Machinists Ratio
  20. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 20
    Strong Balance Sheet Offers Flexibility (Millions of USD) Mar. 31, Dec. 31, Assets 2013 2012 Current assets 942 924 Property, plant and equipment, net 299 296 Other assets 11 11 Total assets 1,252 1,231 Liabilities and Stockholders…
  21. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 21
    Condensed Consolidated Statements of Income Less: Less: Reported FOREX R&D Tax Adjusted Reported (000s of US) 1Q 2013 Gain Credit 1Q 2013 1Q 2012 Revenues 193,155 193,155 177,124 Cost of sales 116,328 116,328 107,050 S, G & A…
  22. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 22
    Revenues and Backlog 800 Revenue (mm) 733 700 566 601 600 496 543 540 Consistent revenue 500 400 and backlog growth 300 through industry 200 cycles 2007 2008 2009 2010 2011 2012 Backlog (mm) 1st quarter 2013 1000 900 881 revenue…
  23. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 23
    Superior Margins vs. Peers* EBIT (Operating Income) Margin ** (%) 30% 26.4% 24.6% 25% 21.6% 22.1% 20% 15% 10% 5% 0% 2009 2010 2011 2012 Dril-Quip Average of Peer Group Superior margins due to: - Vertical integration…
  24. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 24
    2013 Planned Capital Expenditures (Millions of USD) Machines 30 Land, buildings & improvements 22 Rental tools 18 Forge equipment 6 Other 4 Total 80
  25. GHS 100 Energy Conference – Dril-Quip, Inc. – slide 25
    Looking Ahead Continued focus on the growing deepwater offshore sector Continued commitment to Health, Safety and Environmental Management Systems Increase market share of dry tree and subsea completion systems Continued…
  26. GHS 100 Energy Conference – 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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