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Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc.

National Oilwell Varco, Inc. · Mar 23, 2015 · 30 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 1
    Naonal Oilwell Varco 43rd Annual Scoa Howard Weil Energy Conference Clay Williams President, Chairman, and CEO MARCH 23, 2015
  2. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 2
    Naonal Oilwell Varco The oilelds leading technology and equipment provider MARKET LEADERSHIP brings compeve advantage Dependable partner in high-risk high-cost world Successful spin-o and subsequent reorganizaon Record nancial…
  3. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 3
    NOV overview 69 countries 200+ acquisions 15 21B focused business annual revenue units 20B 899 market facilies capitalizaon 60K employees 2014 NOV NOV Q414 Investor Presentaon 3
  4. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 4
    Supporng innovaon and entrepreneurship 2014 NOV NOV Q414 Investor Presentaon 4
  5. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 5
    Transforming oileld technologies 2014 NOV NOV Q414 Investor Presentaon 5
  6. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 6
    8200 Cascade Field, GOM, USA We power the industry that powers the world. 2014 NOV NOV Q414 Investor Presentaon 6
  7. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 7
    Results reect our leadership Best-in-class EBITDA growth NOV EBITDA Relave to OFS Peers 525% NOV EBITDA Growth (%) 350% Peers EBITDA GROWTH 175% 4.3X 0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 Peer…
  8. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 8
    Sustained long-term energy demand growth MORE PEOPLE +2B global populaon increase with MORE MONEY +130% larger global economy demand MORE ENERGY +25% oil producon growth +65% natural gas producon growth3 to grow and…
  9. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 9
    Demand growth translates into four trends 75% US land rigs 70% of NAM eet drilling non-vercal mechanical or SCR 30 oater 300 deepwater wells rerements since discoveries yet to be 55% of jackup eet Q414 developed Connued…
  10. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 10
    Well-balanced to capitalize on four trends NOV Revenue by Segment (FY14) NOV CompleTon & ProducTon SoluTons 20% 42% NOV Rig Systems NOV Wellbore 24% Technologies 14% NOV Rig AOermarket 2014 NOV NOV Q414…
  11. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 11
    NOV Rig Systems MAKING THE WORLDS MOST ADVANCED DRILLING SOLUTIONS Land rigs Oshore drilling equipment packages Discrete rig components 9.8B REVENUE, 20.3% OP 2014 NOV NOV Q414 Investor Presentaon 12
  12. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 12
    CONSISTENTLY ON TIME, ON BUDGET 240 oshore rigs delivered since 2005 2014 NOV NOV Q414 Investor Presentaon 14
  13. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 13
    Purposeful innovaon Acute focus on cost reducon and eciency gains in manufacturing processes 2014 NOV NOV Q414 Investor Presentaon 15
  14. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 14
    NOV Rig Aermarket SUPPORTING THE WORLDS MOST ADVANCED DRILLING SOLUTIONS Spares Service Repair Training 3.2B REVENUE, 27.4% OP 2014 NOV NOV Q414 Investor Presentaon 16
  15. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 15
    Depreciaon is real Oshore Rig Asset Life IRON ROUGHNECK CONTROLS Major Component PIPEHANDLING TOP DRIVE BOP DRAWWORKS MUD PUMPS 0 5 10 15 20 25 Years 2014 NOV NOV Q414 Investor Presentaon 17
  16. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 16
    CUMULATIVE SPEND OF DRILLING VESSELS JACKUP REVENUE FLOATER REVENUE 45M AT DELIVERY 200M AT DELIVERY 2014 NOV NOV Q414 Investor Presentaon 18
  17. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 17
    CUMULATIVE SPEND OF DRILLING VESSELS JACKUP REVENUE FLOATER REVENUE 82M AFTER 25 YEARS 371M AFTER 25 YEARS 2014 NOV NOV Q414 Investor Presentaon 19
  18. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 18
    NOV Wellbore Technologies IMPROVING DRILLING EFFICIENCY AND PRODUCTIVITY Premium tubulars and services Downhole technologies Fluids, solids control, and waste management Drilling opmizaon and automaon 5.7B REVENUE,…
  19. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 19
    Market-leading technologies 2014 NOV NOV Q414 Investor Presentaon 22
  20. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 20
    Driving new levels of eciency 2014 NOV NOV Q414 Investor Presentaon 23
  21. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 21
    NOV CompleVon & ProducVon SoluVons INTEGRATING SOLUTIONS FOR INCREASED PRODUCTIVITY Intervenon and smulaon equipment Onshore producon Oshore producon 4.6B REVENUE, 15.1% OP 2014 NOV NOV Q414 Investor…
  22. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 22
    Expanding market applicaons 2014 NOV NOV Q414 Investor Presentaon 26
  23. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 23
    GLOBAL UPSTREAM PROJECTS 64% 73% OVER BUDGET DELAYED 30 LATE FPSOs OUT OF 45 1Source: EY 2014, Spotlight On Oil and Gas Mega Projects; Projects over 1 billion 2 Source: Douglas Westwood 2014 NOV NOV Q414 Investor…
  24. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 24
    FPSO Supply Chain 2014 NOV NOV Q414 Investor Presentaon 28
  25. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 25
    2015: Sharp cyclical downturn Backlog helps bridge nancial results Strong balance sheet Manage costs to level of work Extraordinary opportunies, invest in the future Vision intact 2014 NOV NOV Q414 Investor Presentaon 29
  26. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 26
    Brazil 3.5B backlog on 22 oaters Scandal recently implicated NOVs customers customer (Sete) Financing delays will further delay construcon NOVs cash receipts exceed our equipment deliveries Brazil heavily invested in success of…
  27. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 27
    Full-cycle business model shows resiliency NOV Net Income v. Rig Count ECONOMIC DOWNTURN 3000 4,000 OIL PRICE FELL 75% 3,000 108 DECLINE FROM Q308 TO Q109 Acve Rigs (BHI) 2000 RIG COUNT FELL Millions ()…
  28. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 28
    Connued shareholder value creaon CAPITAL SOURCE CHARACTERISTICS CAPITAL RETURN US CASH FLOW STEADY (FAIRLY) DIVIDENDS REPATRIATED CASH FLOW VOLATILE OPPORTUNISTIC BUYBACKS BALANCE SHEET CAPACITY OPPORTUNITY-DRIVEN…
  29. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 29
    Focus on what we can control Managing NOV to market, reducing cost while advancing long-term strategy Experienced leadership team Full-cycle business model with backlog stability Commitment to operaonal excellence Acute focus on…
  30. Scotia Howard Weil Energy Conference – National Oilwell Varco, Inc. – slide 30
    2014 NOV NOV Q414 Investor Presentaon 34

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