March 23, 2009 (FinancialWire) -- Dril-Quip, Inc. (NYSE: DRQ) said it has been awarded a two year contract valued at up to around $80 million to supply Dril-Quip's 15,000 p.s.i. and 20,000 p.s.i. proprietary Big Bore Subsea Wellhead Systems for BP America's (NYSE: BP) Gulf of Mexico operations.

The contract may be extended for three additional years at the option of BP America. The initial orders under the contract are valued at around $26 million and will be included in Dril-Quip's backlog at the end of the first quarter of 2009.

Houston-based Dril-Quip is a manufacturer of offshore drilling and production equipment suited for use in deepwater, harsh environment and severe service applications.

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