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Q1 2015 Earnings Call – Seadrill Limited

Seadrill Limited · May 28, 2015 · 18 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. Q1 2015 Earnings Call – Seadrill Limited – slide 1
    Conference Call 1Q 2015 Results May 28, 2015
  2. Q1 2015 Earnings Call – Seadrill Limited – slide 2
    Agenda 1 Highlights Q1 2015 2 Financial Performance Highlights 3 Market Outlook 4 Appendix: Seadrill Limited Financials 3
  3. Q1 2015 Earnings Call – Seadrill Limited – slide 3
    Company Highlights Q1 2015 Quarterly EBITDA 900 Seadrill generated EBITDA of 711 million for 800 the first quarter 2015 711 700 672 624 641 635 600 Seadrill achieves 93% economic utilization for its US Millions 500…
  4. Q1 2015 Earnings Call – Seadrill Limited – slide 4
    Financial performance highlights Financial Performance Highlights 5
  5. Q1 2015 Earnings Call – Seadrill Limited – slide 5
    Financial Performance Highlights Q1 2015 Q4 2014 Q1 2014 Total Operating Revenue 1,244 1,261 1,221 Gain on sale of assets 190 192 440 Total Operating Expenses* 731 1,001 771 Net Operating Income 703 452 890 EBITDA 711 672…
  6. Q1 2015 Earnings Call – Seadrill Limited – slide 6
    Balance Sheet Summary March December 31, 2015 31, 2014 Total Current Assets 3,022 3,415 Non-current assets Newbuildings 2,482 2,030 Drilling units 15,071 15,145 Other 5,244 5,916 Total non-current assets 22,797 23,091 TOTAL…
  7. Q1 2015 Earnings Call – Seadrill Limited – slide 7
    Seamex Highlights Transaction Details Summary Financial Impact* Total Consideration: 1.17 billion Net Asset Disposal: 1.15 billion Net Cash: 586 million Paid down 522 million in debt Sellers Credit: 250 million (due 2019) Gain…
  8. Q1 2015 Earnings Call – Seadrill Limited – slide 8
    Manageable Funding Requirements Unaudited accounts in USD millions Through 2016 Debt Maturities 1,300 Yard Instalments 3,500 Total Funding Requirement 4,800 Debt Amortization 1,800 US1.3 billion in debt maturing in 2015 and…
  9. Q1 2015 Earnings Call – Seadrill Limited – slide 9
    Financial performance highlights Market Outlook 10
  10. Q1 2015 Earnings Call – Seadrill Limited – slide 10
    Seadrill Group US15.4 Billion Contract Backlog 2015 2016 2017 2018 Unit Customer 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Navigator - West Draco - Newbuild West Dorado - Newbuild West Aquila - Newbuild West Libra -…
  11. Q1 2015 Earnings Call – Seadrill Limited – slide 11
    Group Assets 32 6th generation ultra-deepwater units 2 Midwater harsh environment semi- submersible rigs 29 High-specification jack-ups 3 Harsh environment jack-ups 3 Tender rigs Financial Investments 8.18% of SapuraKencana…
  12. Q1 2015 Earnings Call – Seadrill Limited – slide 12
    Appendix: Seadrill Limited Financials 14
  13. Q1 2015 Earnings Call – Seadrill Limited – slide 13
    Operating Income - Floaters Unaudited accounts in USD millions 1Q15 4Q14 3Q14 2Q14 Total operating revenues 832 801 842 852 Gain on Sale* 4 192 - - Vessel and rig operating expenses (235) (268) (298) (263) Reimbursable…
  14. Q1 2015 Earnings Call – Seadrill Limited – slide 14
    Operating Income Jack-up Rigs Unaudited accounts in USD millions 1Q15 4Q14 3Q14 2Q14 Total operating revenues 377 420 408 335 Vessel and rig operating expenses (169) (184) (184) (142) Reimbursable expenses (3) (4) (14) (11)…
  15. Q1 2015 Earnings Call – Seadrill Limited – slide 15
    Operating Income Total Seadrill Limited Unaudited accounts in USD millions 1Q15 4Q14 3Q14 2Q14 Total operating revenues 1,244 1,261 1,293 1,222 Gain on sale of assets* 190 192 - - Vessel and rig operating expenses 446 488 521…
  16. Q1 2015 Earnings Call – Seadrill Limited – slide 16
    Net Income Total Seadrill Limited Unaudited accounts in USD millions 1Q15 4Q14 3Q14 2Q14 Net operating income 703 452 461 476 Financial items and other income Interest income 17 18 2 32 Interest expense (112) (122) (114) (124)…
  17. Q1 2015 Earnings Call – Seadrill Limited – slide 17
    Balance Sheet - Assets March December September Unaudited accounts in USD millions 31, 2015 31, 2014 30, 2014 Current assets Cash and cash equivalents 903 831 638 Restricted cash 72 268 279 Marketable securities 309 426 878 Accounts…
  18. Q1 2015 Earnings Call – Seadrill Limited – slide 18
    Balance Sheet Liabilities & Shareholders Equity March December September Unaudited accounts in USD millions 31, 2015 31, 2014 30, 2014 Current liabilities Current portion of long-term debt 1,427 2,309 1,689 Trade accounts payable…

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