DRIL-QUIP Secures Key Role in Woodside Trion Development Offshore Mexico with BigBore(TM) IIe Subsea Wellhead Systems
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Details
News Market Reaction – DRQ
The recorded move for DRQ in the trading session of this news was +1.05%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, TX / ACCESSWIRE / February 22, 2024 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip"), a global leader in offshore drilling solutions, has been chosen to supply the subsea wellhead systems for the Woodside Trion development offshore Mexico.
The Trion project, a greenfield deepwater development, includes 24 wells across two phases. Woodside's decision to use Dril-Quip's BigBore™ IIe Subsea Wellheads will leverage the system's field-proven sealing technology and 2 MM lb. lockdown capacity. The BBIIe™ system eliminates lockdown sleeves during drilling and production, which can save rig time and reduce costs. Dril-Quip's Villahermosa, Mexico, facility will play a crucial role in supporting the Trion project.
"We are pleased to play a pivotal role in this significant project with Woodside. This partnership underscores the success of our innovative solutions, supporting the milestone of Mexico's first deepwater oil production with the Trion project," stated Don Underwood, Vice President - Subsea Products at Dril-Quip.
About Dril-Quip
Dril-Quip is a developer, manufacturer, and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the provision of equipment and services, and the performance and benefits of the Company's products. Forward-looking statements are based upon certain assumptions and analyses made by the Company in light of its experience and other factors. These statements are subject to risks beyond the Company's control, including, but not limited to, decisions by the customer on the amount of products to order, operating risks and other factors detailed in the Company's public filings with the Securities and Exchange Commission. Investors are cautioned that any such forward-looking statements are not guarantees of future performance, and actual outcomes may vary materially from those indicated.
Investor Relations Contact
Erin Fazio, Director of Corporate Finance
Erin_Fazio@dril-quip.com
Media Relations Contact
Summer Brown, Director of Marketing
Summer_Brown@dril-quip.com
SOURCE: Dril-Quip, Inc.
View the original press release on accesswire.com