Dril-Quip, Inc. Awarded $100 Million Contract

Dril-Quip, Inc. DRQ today announced that it has been awarded a contract valued at approximately US $100 million by FloaTEC de Mexico S.A. de C.V. to supply drilling and production equipment for the P-61 Tension Leg Wellhead Platform (TLWP) to be installed in the Papa Terra field located in the Campos Basin offshore Brazil. The value of the contract will be included in Dril-Quip's backlog during the third quarter of 2010. Dril-Quip will provide surface production tree systems, production riser systems and a drilling riser system to the project. Delivery of these systems will begin in the fourth quarter of 2012.