Dril-Quip Secures Key Role in Woodside Trion Development

Mexico flag next to the Dril Quip and Woodside logos

DRIL-QUIP Secures Key Role in Woodside Trion Development Offshore Mexico with BigBore™ IIe Subsea Wellhead Systems

Houston, February 22, 2023 – Dril-Quip, Inc. (NYSE: DRQ), (the "Company" or "Dril-Quip"), a global leader in offshore drilling solutions, has been chosen to supply the subsea wellhead systems for the Woodside Trion development offshore Mexico. The Trion project, a greenfield deepwater development, includes 24 wells across two phases. Woodside's decision to use Dril-Quip's BigBore™ IIe Subsea Wellheads will leverage the system's field-proven sealing technology and 2 MM lb. lockdown capacity. The BBIIe™ system eliminates lockdown sleeves during drilling and production, which can save rig time and reduce costs. Dril-Quip's Villahermosa, Mexico, facility will play a crucial role in supporting the Trion project.

"We are pleased to play a pivotal role in this significant project with Woodside. This partnership underscores the success of our innovative solutions, supporting the milestone of Mexico's first deepwater oil production with the Trion project," stated Don Underwood, Vice President - Subsea Products at Dril-Quip.

About Dril-Quip

Dril-Quip is a developer, manufacturer, and provider of highly engineered equipment, service, and innovative technologies for use in the energy industry.

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 provision of equipment and services, and 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, decisions by the customer on the amount of products to order, 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.

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