Skip to main content Q1 2015 Earnings Call – Seadrill Partners LLC Investor Presentation | Shale Experts
Loading...
Pm

Q1 2015 Earnings Call – Seadrill Partners LLC

Seadrill Partners LLC · May 28, 2015 · 14 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 Partners LLC – slide 1
    Seadrill Partners LLC Conference Call First Quarter 2015 Results May 28, 2015
  2. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 2
    Agenda Highlights 1Q 2015 Financial Overview Summary & Outlook Q&A session 3
  3. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 3
    Seadrill Partners 1Q Highlights Seadrill Partners reports net income attributable to Seadrill Partners Members for the first quarter 2015 of 38.2 million and operating income of 190.7 million. Economic utilization for the first…
  4. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 4
    Significant Progress Since IPO Major Events to Date 46% distribution growth since IPO Tender rig T-15 acquired for 210 million Tender rig T-16 acquired for 200 million Public offering of 380 million West Sirius and West Leo…
  5. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 5
    Assets & Contracts 2015 2016 2017 2018 2019 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Vencedor West Aquarius 450,000 615,000 (1) West Capella 627,500 (2) West Sirius 297,000 West Leo 605,000 T-15…
  6. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 6
    Growth Additional UDW rigs from Seadrill 2015 2016 2017 2018 Unit Customer 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Vela BP 565,000 11.2020 West Auriga BP 565,000 10.2020 West Mira Husky Transit 590,000 09.2020 West…
  7. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 7
    Financial Performance Highlights 8
  8. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 8
    Income Statement Operating income Unaudited accounts in USD millions 1Q15 4Q14 Contract revenues 385.9 369.1 Reimbursable revenues 10.1 11.5 Other revenues 4.7 - Total operating revenues 400.7 380.6 Vessel and rig operating…
  9. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 9
    Income Statement Net Income Unaudited accounts in USD millions 1Q15 4Q14 Net operating income 190.7 168.9 Financial items Interest income 1.0 1.0 Interest expense (52.0) (39.4) (Loss) / Gain on derivative financial instruments…
  10. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 10
    Balance Sheet - Assets Unaudited accounts in USD millions 1Q15 4Q14 Current assets Cash and cash equivalents 242.0 242.7 Accounts receivable, net 241.6 294.5 Amount due from related party 11.0 62.7 Other current assets 137.9 138.4…
  11. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 11
    Balance Sheet Liabilities & Members Capital / Owners Equity Unaudited accounts in USD millions 1Q15 4Q14 Current liabilities Current portion of long-term debt 69.0 76.5 Current portion of long-term related party payable 36.3 40.4…
  12. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 12
    Distributable Cash Flow Unaudited accounts in USD millions 1Q15 4Q14 EBITDA for the quarter 248.2 225.4 Less: Adjustment for amortization of mobilization revenue 12.8 16.4 Adjusted EBITDA 261.0 241.8 Cash Interest Income 1.9…
  13. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 13
    Summary & Outlook Seadrill Partners Well Positioned in a Challenging Market: Sound operational performance and strong distribution coverage at 1.48x Together with Seadrill achieving cost reductions 5 billion revenue backlog and…
  14. Q1 2015 Earnings Call – Seadrill Partners LLC – slide 14
    Q&A 15

From the store

Browse maps, data & reports in the Shale Experts store