Mike, hope you don't mind us using your knowledge as a valuable
source for this sector. I would like to know if you know anything about Dril-Quip (DRQ). Unfortunately, they IPO'd on the 22nd and got lost in the shuffle.
They design and manufacture subsea equipment, surface equipment and offshore rig equipment for use by major integrated, large independent and foreign national oil and gas companies in offshore areas. The standard info is as follows:
Dril-Quip makes offshore drilling and production equipment for oil and gas companies,including subsea and surface wellheads and production trees, mudline hanger systems,specialty connectors and associated pipe, drilling, and production riser systems and diverters.
It specializes in deep water or severe condition equipment and also provides installation,reconditioning, and tool rental services. This vertically integrated company has benefited from growth in deep water drilling and derives about 70% of its sales from foreign services.
Dril-Quip has manufacturing, fabrication, and reconditioning facilities in Australia, Denmark, Norway, Scotland, Singapore, and the US (Houston).
Not much else is available, and the stock has been inching down after the IPO excitement. Any info you might have would be appreciated.
Thanks, Challo |
