Hydril has received a purchase order for two deepwater drilling blowout prevention and control systems from A.P. Moller - Maersk A/S. Hydril will supply blowout preventer stacks, multiplex control systems and additional equipment for two ultra-deepwater development semi-submersible drilling rigs. Additionally, the company has received orders for five blowout prevention and control systems for jackup drilling rigs from a different customer.
Deliveries for these combined orders will begin in the third quarter of 2006 and continue into mid-year 2008. These combined orders have increased the company's pressure control capital equipment backlog by approximately $60 million.
Chris Seaver, President and CEO of Hydril Company, stated, "Maersk is a highly-valued new customer and we appreciate their confidence in Hydril's ability to provide this technologically sophisticated equipment for their state-of-the-art ultra-deepwater development semi-submersible rigs which have been designed to improve drilling efficiencies and offer lower-cost development solutions. Their order reaffirms Hydril's leading position in the technically challenging deepwater arena and represents the largest single order Hydril has ever received."