Dril-Quip buys offshore equipment provider OPT for $20M

Dril-Quip has acquired offshore equipment provider OilPatch Technologies (OPT) for approximately $20 million.

Based in Houston, OPT provides offshore riser systems and components, proprietary threaded connections and other products, with a focus on deepwater Spar and TLP Systems.

Blake DeBerry, President and Chief Executive Officer of Dril-Quip, stated, “We welcome OilPatch Technologies and its employees to Dril-Quip and are confident their product offerings will complement and further strengthen our position as a leading provider of Dry Tree Systems and associated riser products.”

OPT has provided equipment to international offshore oil companies such as Anadarko, Hess, Total and Murphy Oil for their projects around the world.

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