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Dril-Quip, Inc. - DRQ STOCK NEWS

Welcome to our dedicated page for Dril-Quip news (Ticker: DRQ), a resource for investors and traders seeking the latest updates and insights on Dril-Quip stock.

Dril-Quip, Inc. (DRQ) delivers precision-engineered solutions for challenging offshore environments through its advanced subsea systems and drilling technologies. This news hub provides investors and industry professionals with essential updates about the company's operational milestones, product developments, and strategic initiatives.

Access timely announcements including quarterly earnings reports, new equipment certifications, and partnership agreements within the oil and gas sector. Our curated collection features press releases about engineering innovations, service expansions, and corporate governance updates directly from official sources.

Key updates cover subsea equipment deployments, well construction advancements, and reconditioning service enhancements. Stay informed about DRQ's responses to evolving energy market demands through verified operational and financial disclosures.

Bookmark this page for streamlined access to Dril-Quip's latest developments. Combine these updates with broader market analysis to maintain a comprehensive view of the offshore drilling equipment sector.

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Dril-Quip, Inc. (DRQ) and Innovex Downhole Solutions, Inc. announce a merger in an all-stock transaction to create a unique energy industrial platform. The combined company will have a diverse product portfolio, strong financial profile, and is expected to be immediately accretive to earnings and free cash flow. The merger aims to drive value throughout industry cycles, with estimated cost synergies of $30 million per year and a pro forma net cash position of $99 million by year-end 2023.
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Dril-Quip, Inc. reports strong financial performance with double-digit revenue growth, increased cash flow, and positive operational results in Q4 2023. The company secures significant contracts, achieves growth in revenue and net bookings, and provides a positive outlook for fiscal 2024.
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Dril-Quip, Inc. (NYSE:DRQ) has been selected to provide subsea wellhead systems for the Woodside Trion development offshore Mexico. The project comprises 24 wells over two phases, utilizing Dril-Quip's BigBore™ IIe Subsea Wellheads with advanced sealing technology and high lockdown capacity. This partnership highlights Dril-Quip's role in Mexico's first deepwater oil production.
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Dril-Quip, Inc. (NYSE:DRQ) will release its Q4 and full year 2023 earnings on February 26, 2024. A conference call and webcast to discuss the results will be held on February 27, 2024. Details for accessing the call and webcast are provided in the press release.
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Dril-Quip, Inc. (NYSE:DRQ) announces selection as supplier of drill-through systems for Petrobras' pre-salt development wells. The groundbreaking Big Bore™ II 'e' wellhead contract will revolutionize offshore drilling practices, enabling substantial rig time savings of up to 6 days per well in ultra-deep waters, lowering carbon emissions, and providing significant cost savings. This pioneering technology achieves impressive gains by eliminating the requirement for additional lockdown devices, employing state-of-the-art seal assemblies, and streamlining drilling procedures while maintaining the highest standards of safety and dependability.
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Dril-Quip, Inc. (NYSE:DRQ) announced the successful installation of its first 18' x 22' XPAK-De Expandable Liner Hanger in a Santos Basin deepwater pre-salt exploratory well for the Sagitario Location, operated by Petrobras (60%) in partnership with Repsol Sinopec Brasil (20%) and Shell (20%). This achievement is a result of years of dedicated research, development, and testing by Dril-Quip's team, aimed at creating a product capable of withstanding the harsh conditions of deepwater environments. The technology can accelerate the well construction process, lower operating costs, and reduce risks associated with deepwater drilling operations.
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Dril-Quip reports strong Q3 2023 results with a 31% increase in revenue and $26.8 million cash from operations. The acquisition of Great North contributed $15.5 million to revenue. However, capacity constraints in the offshore rig market are causing delays in product orders and service deliveries, impacting bookings and profitability. The company remains optimistic about the offshore upcycle and plans to update investors on its 2024 outlook in February 2024.
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Dril-Quip, Inc. to release third quarter 2023 earnings results on October 26th, 2023
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Dril-Quip, Inc. announces participation in fireside chat at Barclays CEO Energy-Power Conference on September 7. Live webcast and investor presentation available on company's website.
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Dril-Quip, Inc.

NYSE:DRQ

DRQ Rankings

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530.91M
34.45M
1.79%
103.91%
4.01%
Oil & Gas Equipment & Services
Oil & Gas Field Machinery & Equipment
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United States
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