Dril-Quip To Repurchase Up To $100 Mln Of Stock

(RTTNews) - Offshore drilling and production equipment maker Dril-Quip Inc. (DRQ) announced that its board has authorized a stock repurchase program under which the Company can repurchase up to $100 million of its common stock. The repurchase program has no set expiration date.

The company recently completed a previously authorized stock repurchase program of $100 million, under which the Company repurchased 85,840 shares of its common stock for $10 million in the fourth quarter of 2013 and 869,699 shares of its common stock for $90 million in the second quarter of 2014.