Dril-Quip Wins Spotlight on New Technology Award for Hands-Free Drilling Riser System
May 02 2018 - 8:54AM
Dril-Quip, Inc. (NYSE:DRQ) was presented with a Spotlight on New
Technology Award at the 2018 Offshore Technology Conference (OTC)
in Houston on April 30, 2018 for its HFRe™ hands-free drilling
riser system. The Spotlight on New Technology Awards showcase
new and advanced technologies that are leading the industry into
the future.
The HFRe™ drilling riser is an automated
system designed for high pressure, high temperature (HPHT)
environments. HFRe™ utilizes a boltless,
fatigue-resistant 4-million-lbf coupling that has been tested per
API 16F/TR7 requirements. The technology can decrease risk
and operational costs by reducing rig floor personnel and by
providing feedback on position states, orientation and preload
verification during connection make-up through its hydraulic
SmartSpider™ technology.
Blake DeBerry, Dril-Quip’s President and Chief
Executive Officer, remarked, “We are very pleased to receive
another Spotlight on New Technology Award from OTC. The
HFRe™ drilling riser can provide another structural change in
well operations that allows our customers to increase rig
automation, reduce personnel from the rig floor and utilize
intelligent feedback through its SmartSpider™
technology.”
About Dril-Quip
Dril-Quip is a leading manufacturer of highly
engineered drilling and production equipment for use onshore and
offshore, but which is particularly well suited for use in
deepwater, harsh environment and severe service applications.
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 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,
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.
Contact: Trevor Ashurst, Investor Relations
Manager (713) 939-7711
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