Hydril Receives BOP Order from Diamond

Hydril has received a letter of intent from a subsidiary of Diamond Offshore Drilling for a deepwater subsea blowout preventer stack, multiplex blowout preventer control system, and a spare blowout preventer stack.

"The 18 3/4" bore size, 15,000 p.s.i. working pressure blowout preventer stack and multiplex blowout preventer control system is designed for ultra-deepwater service and is destined for Diamond's semi-submersible drilling rig, the Ocean Endeavor," stated Chris Seaver, Hydril's President and Chief Executive Officer. "The equipment to be supplied by Hydril is scheduled for delivery in early 2006, and is valued at approximately $18 million. Diamond Offshore is a highly-valued customer and we appreciate their confidence in Hydril's ability to provide technologically sophisticated equipment."

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