Dril-Quip, Inc. Company News

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Dril-Quip Makes Subsea Deal with Proserv
Friday, June 26, 2020Drill-Quip will rely upon Proserv to develop and manufacture its subsea control systems as a supplier.

Oilfield Rush to High-Tech Helps Smaller Companies Thrive
Thursday, July 27, 2017A wave of next-generation upstarts is hitting America's oil patch, offering high-tech solutions aimed at an industry in flux following the worst crude-market crash in a generation.

Dril-Quip Awarded Supply Contract Offshore Malaysia
Wednesday, March 13, 2013Dril-Quip announces the contract award to supply drilling and production equipment related services for the Shell Malikai project offshore Malaysia.

Dril-Quip 'Well Positioned' for Deepwater E&P Growth
Thursday, August 23, 2012Dril-Quip has been awarded a four-year contract by Petrobras for the supply of subsea wellhead systems and associated tools to be used offshore Brazil.

Dril-Quip Scores Supply Contract Offshore Malaysia
Wednesday, June 22, 2011Dril-Quip has been awarded a contract Murphy Sabah to supply drilling and production equipment for the Kikeh Dry Tree Spar Platform.

Dril-Quip Names New VPs
Thursday, May 26, 2011Dril-Quip announced the new Senior Vice PresidentSales and Engineering and Senior Vice PresidentManufacturing, Project Management and Service.

Dril-Quip Mourns Loss of Co-Chairman
Monday, May 23, 2011Dril-Quip announced with great sadness the loss of Larry E. Reimert, Co-Chairman of the Board and former Co-Chief Executive Officer.

Dril-Quip to Supply Subsea Equipment to Mars Field
Thursday, October 14, 2010Dril-Quip has been awarded a contract by Shell Offshore to supply drilling and production equipment for the Olympus Tension Leg Platform to be installed in the Mars field.

Dril-Quip Highlights 2Q Financial Results
Friday, August 06, 2010Dril-Quip announced net income of $28.0 million, or $0.70 per diluted share, for the three months ended June 30, 2010.

Dril-Quip Snags $100MM Contract Offshore Brazil
Thursday, July 15, 2010Dril-Quip has been awarded a contract by FloaTEC de Mexico to supply drilling and production equipment in the Papa Terra field.

Dril-Quip Rides High on Fourth Quarter '09 Results
Friday, February 26, 2010Dril-Quip's total revenues increased to $141.3 million for the quarter ended December 31, 2009 from $135.5 million for the same period in 2008.

Dril-Quip Mourns Loss of Director
Tuesday, November 10, 2009Dril-Quip announced with great sadness that Gary L. Stone, a member of Dril-Quip's board of directors since June 2001, passed away on November 7, 2009 following an extended illness.

Dril-Quip Reports Third Quarter 2009 Financial Results
Friday, November 06, 2009Dril-Quip's total revenues were $138.2 million during the quarter ended September 30, 2009 compared to $132.3 million for the same period in 2008.

Dril-Quip to Set Up Shop in Singapore
Wednesday, October 21, 2009Dril-Quip Asia Pacific has entered into a contract for the construction of its new manufacturing facility on an 11.2 acre green field site in Singapore.

Dril-Quip Mourns Loss of Co-Chairman and Co-CEO
Thursday, September 24, 2009Dril-Quip has announced with great sadness that Gary D. Smith, its Co-Chairman of the Board and Co-Chief Executive Officer with principal responsibility for sales, service, training and administration, unexpectedly passed away overnight.

Dril-Quip Posts Slight Dip in Profits, Higher 2Q 2009 Backlog
Friday, August 07, 2009Dril-Quip has announced net income of $26.7 million for the three months ended June 30, 2009, versus net income of $27.7 million for the second quarter of 2008.

Wood Group Donates Surface Wellhead Equipment to UT for Display
Thursday, June 04, 2009Wood Group Pressure Control has donated three surface wellheads to the Cockrell School of Engineering at the University of Texas at Austin for permanent display outside the Chemical and Petroleum Engineering Building.

Petrobras Taps Dril-Quip for Supply of Deepwater Subsea Wellhead Systems
Tuesday, June 02, 2009Dril-Quip will supply subsea wellhead systems to Petrobras for use in the drilling of deepwater wells offshore Brazil.

Dril-Quip Stays Steady with 1st Quarter 2009 Results
Friday, May 08, 2009Dril-Quip announced net income of $24.7 million for the first quarter compared to net income of $25.4 million for the first quarter of 2008.

Dril-Quip Bags $80MM Contract in GOM to Suppy Subsea Wellhead Systems
Monday, March 23, 2009Dril-Quip has been awarded a two year contract valued at up to approximately $80 million to supply wellhead systems for BP America's Gulf of Mexico operations.

Dril-Quip Adopts Stockholder Rights Plan
Tuesday, November 25, 2008Dril-Quip has adopted a Stockholder Rights Plan designed to protect the Company's stockholders from coercive or unfair takeover techniques.

Dril-Quip Reports Steady 3Q Results, Grows Backlog
Monday, November 10, 2008Dril-Quip has announced net income of $27.4 million for the three months ended September 30, 2008, versus net income of $27.6 million for the third quarter of 2007.

Dril-Quip Sees Increase in 1Q08 Income; Plans Share Repurchase
Friday, May 09, 2008Dril-Quip reports a net income of $25.4 million, or $0.62 per diluted share for the three months ended March 31, 2008, versus net income of $24.1 million, or $0.59 per diluted share for the first quarter of 2007.

Dril-Quip Revenues Increase 12% in Q4 2007
Friday, February 29, 2008Total revenues increased approximately 12% to $132.8 million for the quarter ended December 31, 2007 from $118.3 million for the same period in 2006 as the Company continued to experience strong worldwide demand for its products and services.

Dril-Quip Reports 4Q06 & Full Year Results
Tuesday, February 27, 2007Dril-Quip announced net income of $24.9 million versus net income of $11.7 million fourth quarter of 2005.

Dril-Quip's Backlog Grows with New Orders
Wednesday, November 29, 2006Dril-Quip, Inc. said that it has recently been awarded orders for the supply of Dril-Quip Drilling Riser Systems for three newbuild deepwater floating drilling rigs.

Dril-Quip Starts Up Second Multiplex Subsea Control System
Wednesday, April 19, 2006Dril-Quip reports the successful installation and start-up of its second subsea control system, a "fiber optic" multiplex system that controls a satellite Dril-Quip subsea tree.

Dril-Quip Announces Start-Up of First Multiplex Subsea Control System
Monday, March 20, 2006Dril-Quip announced the successful installation and start-up of its first subsea control system, a "signal on power" multiplex system that controls both a satellite subsea tree and subsea manifold, also a newly introduced Dril-Quip product.

Dril-Quip Says Results for Year End 2005 Up
Wednesday, March 01, 2006Dril-Quip reported net income of $11.7 million, or $0.63 per diluted share for the three months ended December 31, 2005, versus net income of $3.9 million, or $0.22 per diluted share for the fourth quarter of 2004.

Dril-Quip Prices Common Stock Offering
Thursday, December 15, 2005Dril-Quip has priced a public offering of 3.0 million shares of its common stock at $52.00 per share.

Dril-Quip to Offer 3 Million Shares of Common Stock
Thursday, December 08, 2005Dril-Quip, says that it has filed a preliminary prospectus supplement with the Securities and Exchange Commission relating to an underwritten public offering of 3 million shares of its common stock.

Dril-Quip Sees Revenues Increase 64%
Thursday, November 03, 2005Dril-Quip has net income of $9.8 million, or $0.54 per share for the three months ended September 30, 2005, versus net income of $3.3 million, or $0.19 per share for the third quarter of 2004.

Dril-Quip Announces Results for First Quarter 2004
Friday, April 30, 2004Dril-Quip announced net income of $2.5 million, or $0.15 per share, for the quarter ended March 31, 2004, versus net income of $2.1 million, or $0.12 per share, for the first quarter of 2003.

Dril-Quip Settles Riser Warranty Claims
Thursday, June 26, 2003Dril-Quip, Inc. has settled a previously disclosed warranty claim related to the Company's drilling riser product.