HOUSTON - Dril-Quip, Inc. (NYSE:DRQ), an offshore drilling solutions provider, has secured a contract to supply subsea wellhead systems for the Woodside (OTC:WOPEY) Trion development located offshore Mexico. The Trion field, which represents Mexico's first deepwater oil production endeavor, is set to include 24 wells divided into two development phases.
The company will deliver its BigBore™ IIe Subsea Wellheads, which are noted for their field-proven sealing technology and a lockdown capacity of 2 million pounds. This technology is designed to eliminate the need for lockdown sleeves during drilling and production, potentially saving rig time and reducing operational costs.
Dril-Quip's Vice President of Subsea Products, Don Underwood, expressed his pleasure at the company's involvement in the Trion project, highlighting the recognition of Dril-Quip's innovative solutions in the industry. The manufacturing and support for this project will be facilitated by Dril-Quip's facility in Villahermosa, Mexico, underscoring the company's commitment to the local economy and technical capabilities within the region.
Dril-Quip is known for developing, manufacturing, and providing highly engineered equipment and services, as well as introducing innovative technologies to the energy sector. The company's participation in the Trion project is a testament to its expertise and competitive position within the offshore drilling industry.
While the press release includes forward-looking statements regarding the expected performance and benefits of Dril-Quip's products, it is important to note that these statements are based on assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include operational challenges and the customer's final decisions on product orders, among others.
Investors and stakeholders are reminded that forward-looking statements should not be seen as guarantees of future performance, and actual outcomes may vary. This announcement is based on a press release statement from Dril-Quip, Inc.
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