HOUSTON, Nov. 22 /PRNewswire-FirstCall/ -- Hydril (NASDAQ:HYDL) announced it 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." Hydril Company, headquartered in Houston, Texas is engaged worldwide in engineering, manufacturing and marketing premium connections and pressure control products used for oil and gas drilling and production.
Forward-Looking Statements This press release contains forward-looking statements concerning expected future results. These statements relate to future events and the company's future financial performance, including the company's business strategy and product development plans, and involve known and unknown risks, uncertainties and assumptions. These risks, uncertainties and assumptions, many of which are more fully described in Hydril Company's Quarterly Report on Form 10-Q for the quarter-ended September 2005 filed with the Securities and Exchange Commission, include but are not limited to the impact of changes in oil and natural gas prices and worldwide and domestic economic conditions on drilling activity and demand for and pricing of Hydril's products, the impact of geo- political and other events affecting international markets and trade, Hydril's ability to successfully develop new technologies and products and maintain and increase its market share, the impact of international and domestic trade laws, the loss of or change to distribution methods of premium connections in the U.S. and Canada, overcapacity in the pressure control industry, and high fixed costs that could affect the pricing of Hydril's products. These factors may cause Hydril's or the industry's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. DATASOURCE: Hydril Company CONTACT: Sue Nutt, Manager, Investor Relations & Corporate Communications of Hydril Company, +1-281-985-3532, or Web site: http://www.hydril.com/
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