Dril-Quip, Inc. Awarded $28 Million Contract for the Supply of Subsea Wellhead Equipment

Oct 19, 2010, 07:30 ET from Dril-Quip, Inc.

HOUSTON, Oct. 19 /PRNewswire/ -- Dril-Quip, Inc. (NYSE: DRQ) today announced that Dril-Quip do Brasil LTDA, its wholly owned subsidiary, has been awarded a contract valued at approximately $28 million for the supply of subsea wellhead systems to Petrobras for the Papa Terra field located in the Campos Basin offshore Brazil.  Equipment deliveries are scheduled to begin during the first quarter of 2011 and will continue through the first quarter of 2013.

Dril-Quip is a leading manufacturer of highly engineered offshore drilling and production equipment which is well suited for use in deepwater, harsh environment and severe service applications. Dril-Quip's latest investor presentation is available under the investor section of the Company's website at http://www.dril-quip.com.

SOURCE Dril-Quip, Inc.