Hydril's Board Okays Share Buyback

Hydril's Board of Directors has authorized the company to repurchase up to $150 million of its common stock. The company intends to repurchase its shares in the open market or in privately negotiated transactions based on, among other things, its ongoing capital requirements, expected cash flows, regulatory restraints, and general market conditions.

Hydril Company, headquartered in Houston, Texas is engaged worldwide in engineering, manufacturing and marketing premium connections and pressure control products used for oil and gas drilling and production.