Noble Corporation David W. Williams Chairman, President & Chief Executive Officer Howard Weil 41st Annual Energy Conference New Orleans, Louisiana March 19, 2013
Todays Agenda Company Overview Review of Excellent Business Fundamentals Noble Catalysts Supporting Value Creation 3
Company Overview Among the worlds premier offshore drilling contractors Significant fleet transformation nearing completion Large contract backlog providing excellent visibility Strong earnings and cash flow growth…
Company Overview Growing Global Presence Global Fleet Composition(1) Industrys Second Largest MODU Fleet(2) 14 Semisubmersibles 100 82 77 74 80 60 51 44 14 Drillships including 5 under construction 40 20 0 49 Jackups…
Company Overview Geographically Diversified Revenues and Strong Customer Base 2012 Total Revenues Top Five Customers 3.5 Billion 1. Shell 2. Petrobras North Sea 3. Pemex Middle East / 4. Saudi Aramco India / Australia 5. LLOG…
Significant Achievements in 2012 and 2013 To Date 2012 growth in floating fleet 3 UDW drillships 2 DW drillships Strong shipyard execution leading to 2013 deliveries 3 UDW drillships 3 JU3000N jackups Geographic expansion…
Deepwater Fundamentals Solid Support Remains Stable range of crude price Brent Avg. 108 past 12 months 102/bbl past 36 months Exploration success establishes new record Geographic expansion continues into frontier locations…
Deepwater Fundamentals Exploration Success Remains Strong and Expansion Continues 2008 2012, Water Depth 4,000 Ft. and Greater New record 1 4 1 1 1 1 5 35 3 2 2 6 1 6 2 5 6 3 2 1 1 13 11 2 10 61 Source: IHS…
Higher Dayrates and Longer Contracts Evident UDW vs. DW 700,000 650,000 600,000 Average Length of Contract in Years: 2011 v. 2012 550,000 4 3.3 500,000 2011 2012 3 450,000 2.1 2 1.5 400,000 1 0.7 350,000 0 300,000 UDW DW…
Open Demand Reflects Global Expansion Open Demand by Client Type of Well 100% Majors 28% 92% 75% 77% 50% 22% 50% Independents NOCs 25% 13% 8% 0% Mar 2013 Aug 2012 Mar 2013 Aug 2012 Exploration Development 1 2 Transform…
Strong Jackup Sector Continues Improving utilization seen through 2012 and into 2013, with marketed utilization at 90%+ in most regions Available capacity remains in decline Dayrates for high-spec jackups experiencing higher rates…
Dayrates Continue to Trend Higher Source: IHS Petrodata, March 2013. 13
Jackup Contract Length Expanding 1.80 Standard JU v High Spec JU: Noble Recent Average Contract Term in Years 1.62 Contract Experience 1.60 1.40 Noble Gene House 3 yrs. 1.24 1.22 1.20 Noble Joe Beall 3 yrs. 1.08 1.09 0.99…
Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
Transitioning for the Long-Term A Higher Mix of Premium Assets 2013 2014 Noble Globetrotter II Noble Noble Noble Don Taylor Bob Douglas Sam Croft Tom Madden Noble Noble Noble Noble Noble Noble Mick OBrien Houston…
Transitioning for the Long-Term A Higher Mix of Premium Assets Uncontracted 2013 2014 Noble Globetrotter II Noble Noble Noble Don Taylor Bob Douglas Sam Croft Tom Madden Noble Noble Noble Noble Noble Noble Mick OBrien…
Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
Strategic Imperative Subsea and Critical Component Integrity 19
Strategic Imperative Recruitment, Retention and Advancement 20
Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
Possible Divestiture of Standard Capability Assets What divestiture could look like Asset composition Divestiture alternatives (sale, spin) Preparing audited financials Analyzing internal restructuring steps Tax rulings tax…
Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
Noble Corporation Catalysts Newbuild program winding down Expect 11 newbuild deliveries over 2013 2014 Total CAPEX to decline post 2014 ( Millions) Newbuilds 3,000 2,800 Sustaining Capital Major Projects & Other Capitalized…
Transforming Noble What Makes Noble Different: Higher Mix of Premium Assets Unique Technology Geographic Expansion Impressive Earnings And Cash Flow Growth Numerous Catalysts to Enhance Value 28
Noble Corporation Dorfstrasse 19a 6340 Baar Switzerland www.noblecorp.com Investor contacts: Jeffrey L. Chastain Vice President Investor Relations 281-276-6383 John S. Breed Director Investor Relations 281-276-6729 Enterprise Value…
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