Dril-Quip, Inc., a Delaware corporation, designs, manufactures, sells and services
highly engineered drilling and production equipment that is well suited primarily
for use in deepwater, harsh environment and severe service applications. The
Company’s principal products consist of subsea and surface wellheads,
subsea and surface production trees, subsea control systems and manifolds, mudline
hanger systems, specialty connectors and associated pipe, drilling and production
riser systems, liner hangers, wellhead connectors, diverters and safety valves.
Dril-Quip’s products are used by major integrated, large independent and
foreign national oil and gas companies and drilling contractors primarily in
offshore areas throughout the world. Dril-Quip also provides technical advisory
assistance on an as-requested basis during installation of its products, as
well as rework and reconditioning services for customer-owned Dril-Quip products.
In addition, Dril-Quip’s customers may rent or purchase running tools
from the Company for use in the installation and retrieval of the Company’s
products.
Dril-Quip has developed its broad line of subsea equipment, surface equipment
and offshore rig equipment primarily through its internal product research and
development efforts. The Company believes that it has achieved significant market
share and brand name recognition with respect to its established products due
to the technological capabilities, reliability, cost effectiveness and operational
timesaving features of these products.
The Company’s operations are organized into three geographic segments—Western
Hemisphere (including North and South America; headquartered in Houston, Texas),
Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen,
Scotland) and Asia-Pacific (including the Pacific Rim, Southeast Asia, Australia,
India and the Middle East; headquartered in Singapore). Each of these segments
sells similar products and services, and the Company has major manufacturing
facilities in all three of its headquarter locations as well as in Macae, Brazil.
The Company maintains additional facilities for fabrication and/or reconditioning
and rework in Australia, Norway, Denmark, Nigeria, Indonesia, China, Egypt,
Ghana and Qatar. The Company’s manufacturing operations are vertically
integrated, allowing it to perform substantially all of its forging, heat treating,
machining, fabrication, inspection, assembly and testing at its own facilities.
The Company’s major subsidiaries are Dril-Quip (Europe) Limited, located
in Aberdeen with branches in Denmark, Norway and Holland; Dril-Quip Asia Pacific
PTE Ltd., located in Singapore; Dril-Quip do Brasil LTDA, located in Macae,
Brazil; and DQ Holdings Pty. Ltd., located in Perth, Australia. Other subsidiaries
include Dril-Quip (Ghana) Ltd. located in Takoradi, Ghana; PT DQ Oilfield Services
Indonesia located in Jakarta, Indonesia; Dril-Quip (Nigeria) Ltd. located in
Port Harcourt, Nigeria; Dril-Quip Egypt for Petroleum Services S.A.E. located
in Alexandria, Egypt; Dril-Quip Oilfield Services (Tianjin) Co. Ltd. located
in Tianjin, China; and Dril-Quip Qatar LLC, located in Doha, Qatar.
On November 10, 2016, the Company acquired TIW Corporation (TIW), a Texas corporation,
located in Houston, Texas, and all of its subsidiaries. TIW manufactures consumable
downhole products for the onshore and offshore global oil and gas market. TIWs
subsidiaries include TIW Canada Ltd. located in Alberta, Canada; TIW de Mexico
S.A. de C.V., located in Villahermosa, Mexico; TIW de Venezuela S.A., located
in Anaco, Venezuela and with a registered branch located in Shushufindi, Ecuador;
TIW (UK) Limited, located in Aberdeen, Scotland; TIW Hungary LLC, located in
Szolnok, Hungary; and TIW International, Inc., which has a registered branch
located in Singapore.