Dril-Quip's Backlog Grows with New Orders

Dril-Quip, Inc.

Dril-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. These orders have a total value of approximately $75 million and are scheduled for delivery during 2008 and 2009. Including these new orders, the company's current backlog is approximately $340 million, compared with its previously reported September 30, 2006 backlog of approximately $288 million.

Dril-Quip manufactures highly engineered offshore drilling and production equipment, which is well suited for use in deepwater, harsh environment and severe service applications.