Orders for Dril-Quip equipment exceed guidance

Houston-based manufacturer of drilling and production equipment Dril-Quip had product bookings in the first quarter of 2019 of approximately $99 million, which exceeded its prior guidance of $80 million.

Dril-Quip said last week that included in the first quarter 2019 bookings was a previously disclosed order from a customer to supply subsea wellhead systems valued at between $25 – $35 million and an order from another major customer to convert its inventory of subsea wellhead systems into Dril-Quip’s new BigBore IIe wellhead system.

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