Dahlman Rose Ultimate Oil Services and E&P Conference New York OCEAN RIG UDW INC. December 4th, 2012
Company Overview UDW Drilling Market Financial Review Summary Considerations 2
Who is Ocean Rig UDW Inc. Pure-play ultra- deepwater driller with premium assets Experience Fully funded fleet & operating UDW high EBITDA growth assets since 2001 Favourable market Large backlog = fundamentals…
Fleet growth & capital invested Newbuild Drillship 4 8.8 billion invested since 2008 OCR Mylos 683 mil. 670 mil. (appx 4.0 billion in equity), to OCR Skyros deliver results in 2013 and 669 mil. beyond OCR Athena 800 mil. Senior…
Worldwide drilling experience Operating in UDW since 2001 having drilled 135 wells for 25 clients Drilled in harsh environments and in nearly every deepwater area of the world Extensive experience working in multiple jurisdictions and…
Pure-play ultra-deepwater driller with premium assets Harsh environment UDW semis Sister drillships provide benefits from standardization 5th generation semisubmersibles Four 6th generation drillships Four 7th generation NB…
Pure-Play ultra-deepwater driller with premium assets Owned & operated ultra-deepwater fleet(1) Owned & operated drillships 35 30 30 25 6th largest fleet 5th largest of vessels of vessels 25 20 20 15 15 10 10 5 5 0…
Strong contract backlog provides cash flow visibility Taking advantage of tight market to secure lucrative contracts, Contract signed with Repsol Sinopec Brazil for OCR Mylos (delivery July, 2013) Contract awarded for OCR Poseidon and…
Solid multi-year fleet employment profile Up to 6 month LOI* for Eirik Raude signed with an Oil Major representing 112m for drilling in North Sea Enviable position with two units, Eirik Raude and Ocean Rig Skyros, available in 2013…
Company Overview UDW Drilling Market Financial Review Summary Considerations OCEAN RIG UDW INC.
Supply constraints Age Profile of DW and UDW fleet Beginning of Year UDW Deliveries & Availability 29 30 24 33.2% 25 23 Number of UDW units 20 19 48.5% 20 18 15 13 15 11 10 5 3 14.8% 3.6% 0 Over 20 years 10-20…
Company Overview UDW Drilling Market Financial Review Summary Considerations 14
Healthy liquidity & capital structure September 30, (in million) 2012 Ownership on September 30th, 2012 Cash Shares Outstanding 131.7 million 485.9 Restricted cash Free float shares 45.9 million 182.2 Secured bank debt % of…
Sensible growth All equity -over 727 million- for 2013 newbuilds already invested Modest capital expenditures associated with 2015 newbuilding (S millions) Total Already Remaining Cost(1) Delivered Funded Cost From Equity 2012…
Net drilling revenue indicative calculator To 2013 Net Drilling Revenue add approximately 106 million in amortization of deferred revenues Available Earnings Local Agent Net Drilling Mobilization Days* Drilling Day Rate Efficiency…
Rating agency considerations 1.6 billion year end 2011 Increased Contract Backlog 4.5 billion current pro-forma LOI Advanced contract discussions on remaining 2 units Cross Default Clauses Removed all such clauses related to…
Company Overview UDW Drilling Market Financial Review Summary Considerations 21
Closing remarks Pure-play ultra-deepwater Fleet composed of 100% UDW assets driller with premium Sixth largest UDW company globally with a fleet of 10 drillships/rigs assets Latest generation assets with an average age of 2.7 years…
Appendix OCEAN RIG UDW INC.
Corporate structure Listed on NASDAQ Global Select Market since October 6, 2011 (ORIG) Market Capitalization: 2,100 500m 9.5% Senior . Unsecured Notes 800m 6.5% Senior Secured Notes Drill Rigs Drillships Drillships…
Q3 2012- Revenue analysis During the quarter, we had 552 calendar days less 37 days spent on mobilization Of the resulting 515 available drilling days, 492 were revenue earning days i.e. 95.5% operating efficiency 92.4% earnings…
Q3 2012- OPEX analysis Recurring Q3 2012 Q3 2012 Recurring Opex 1 Opex1 Amortization of Drilling Unit Q2 2012 (in USD Deferred Opex ( per day) ( per day) million) (in USD million) Increase in recurring opex 8.5 Leiv Eiriksson…
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