Section 1 Conflict Minerals Disclosure
Item 1.01
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Conflict Minerals Disclosure and Report
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Disclosure Requirement
This disclosure for the year ended
December 31, 2019 is presented to comply with Rule 13p-1 under the Securities Exchange Act of 1934 (the Rule). The Rule was adopted by the Securities and Exchange Commission (SEC)
to implement reporting and disclosure requirements related to Conflict Minerals as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Rule imposes certain reporting obligations on SEC reporting companies whose
manufactured products contain Conflict Minerals that are necessary to the functionality or production of their products. Conflict Minerals are defined as cassiterite, columbite-tantalite, gold, wolframite and their derivatives, which are
limited to tin, tantalum and tungsten. If a company can establish that its necessary Conflict Minerals originated from sources other than the Democratic Republic of the Congo or an adjoining country (the Covered Countries) or from
recycled or scrap sources, or if the company has no reason to believe that its necessary Conflict Minerals may have originated in the Covered Countries or reasonably believes that its necessary Conflict Minerals did come from recycled or scrap
sources, it must disclose that determination, submitting a Form SD that includes a description of the Reasonable Country of Origin Inquiry it undertook in making its determination and the results of that inquiry.
The Company
This disclosure has been prepared by
management of Dril-Quip, Inc. (the Company). Unless otherwise indicated, the terms Company, Dril-Quip, we, us and our refer to Dril-Quip, Inc., together with its subsidiaries.
The information in this disclosure includes the activities of all subsidiaries that are required to be consolidated.
The Company designs, manufactures,
sells and services highly engineered drilling and production equipment that is well suited primarily for use in deepwater, harsh environment and severe service applications. The Companys principal products consist of subsea and surface
wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors, diverters and safety
valves. Dril-Quips products are used by major integrated, large independent and foreign national oil and gas companies and drilling contractors throughout the world. Dril-Quip also provides technical advisory assistance on an as-requested basis during installation of its products, as well as rework and reconditioning services for customer-owned Dril-Quip products. In addition, Dril-Quips customers may rent or purchase running tools
from the Company for use in the installation and retrieval of the Companys products.
Conflict Minerals Disclosure
Reasonable Country of Origin Inquiry
Pursuant to the
Rule, we conducted, in good faith, a reasonable country of origin inquiry concerning any Conflict Minerals that were necessary to the functionality or production of products manufactured, or contracted to be manufactured, for sale by Dril-Quip
during the year ended December 31, 2019. As part of our analysis, we assessed our manufactured products to identify Conflict Minerals scope and risk. As a result of our analysis, we identified the following products containing Conflict
Minerals: