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Dril-Quip Signs Global Frame Agreement With BP
Dril-Quip, Inc. (NYSE: DRQ) today announced that it has entered into a five year global frame agreement with BP International Limited for the supply of subsea wellhead equipment and related services. The contract provides the terms and conditions for worldwide call off orders placed by BP for Dril-Quip's Big Bore II-H series subsea wellhead systems. Orders previously placed by BP during 2013 will also be governed by the terms of this contract. Additional orders will be included as part of Dril-Quip's backlog as subsequent orders may be received under the agreement. BP also has an option to extend the contract for an additional five year period.

date.png23 Oct 2013 12:02 | comments.png 0 Comments | tags.png bp dril-quip services [ More ]

Dril-Quip Awarded $650 Million Contract by Petrobras
Dril-Quip, Inc. (NYSE: DRQ) today announced that Dril-Quip do Brasil LTDA, its wholly owned subsidiary, has been awarded a four-year contract by Petrobras, Brazil's national oil company, for the supply of subsea wellhead systems and associated tools to be used in the drilling of deepwater wells offshore Brazil. Based on current exchange rates and after Brazilian taxes, the contract is valued at $650 million if all of the equipment under the contract is ordered. Amounts will be included in Dril-Quip's backlog as purchase orders are received under the contract. Dril-Quip expects to begin delivering products under the contract in the second half of 2013.

date.png25 Aug 2012 08:25 | comments.png 0 Comments | tags.png brazil dril-quip petrobras services [ More ]

Court Order Dismisses Dril-Quip, Inc. From Claims in Deepwater Horizon Litigation
Dril-Quip, Inc. (NYSE: DRQ) today announced that Judge Carl J. Barbier, the federal court judge in the Eastern District of Louisiana presiding over the multi-district proceeding In Re: Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico, on April 20, 2010, issued an order on January 20, 2012 granting Dril-Quip's Motion for Summary Judgment and dismissing all claims asserted against Dril-Quip. In issuing the order, the court stated that it found no evidence showing that any equipment manufactured by Dril-Quip, Inc. played any role in causing or contributing to the blowout.

date.png25 Jan 2012 13:10 | comments.png 0 Comments | tags.png dril-quip gulf-of-mexico services usa [ More ]
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