Ocean Rig UDW Inc. 2nd Quarter Ended June 30, 2012 Earnings Presentation NASDAQ: OCEAN RIG UDW INC. ORIG August 17, 2012
Financial Highlights OCEAN RIG UDW INC.
Q2 2012 Results Reported Net Loss: ( 2.8) million or ( 0.02) per share Plus Class Survey costs: 3.0 million or 0.02 per share Plus Losses incurred on our interest rate swaps: 7.6 million or 0.06 per share Adjusted Net Income: 7.8…
Q2 2012- OPEX Explained Recurring Opex Amortization of Drilling Unit Deferred Opex (in USD million) ( per day) (in USD million) Leiv Eiriksson 18.2 200,000 11.4 Eirik Raude 13.7 (1) 163,000 0.1 OCR Corcovado 10.4 (2)(3) 231,000…
Healthy Liquidity & Capital Structure June 30, Ownership on June 30th, 2012 (in million) 2012 Shares Outstanding 131.7 million Cash 191.2 Free float shares 45.9 million Restricted cash 173.2 % of free float shares 34.8 % Secured…
New Senior Secured Syndicated Facility (S millions) Total Delivered Already Funded Remaining Cost(1) Cost From Equity 2012 2013 2013 Delivery NB 1 670 242 - 428 July NB 2 669 242 - 427 October NB 3 679 242 - 437 November…
Conservative Debt Profile Our aggressive loan amortization schedule increases stakeholder value Scheduled Debt Repayments ( in millions) 700 ( in millions) 600 Ocean Rig Debt Outstanding as of 6/30/2012 (1) 500 400 million…
Company Update OCEAN RIG UDW INC.
Recent Highlights Signed Letters of Intent* with 3 major oil companies for 3 drillships for an additional backlog of 2.2 billion over three years. Commenced the syndication process for a 1.35 billion facility to finance the three…
Strong Contract Backlog Provides Cash Flow Visibility Unit Year built Redelivery Operating area Backlog (m) Leiv Eiriksson 2001 Q4 12 Falklands 78 Leiv Eiriksson 2001 Q1 16 North Sea 653 Eirik Raude 2002 Q3 12 Equatorial Guinea…
High Leverage to Strong Market Fundamentals Taking advantage of tight 2012 market to secure lucrative contracts LOIs* for 2.2 billion over 3 years signed with 3 major oil companies 2 rigs still available in 2013 Investment grade…
Industry Overview OCEAN RIG UDW INC.
Surge of Contract Announcements More in the Pipeline Date Name Contractor Operator Area Country Rate US Start Date Duration Fixture Type Type Market (mnths) Segment Mar-12 DEEPWATER EXPEDITION Transocean Saudi Aramco Middle East…
2013 Close to Sold Out 2012 2013 Name Contractor Operator Next Operators Area Country Type J A S O N D J F M A M J J A S O N D GSF EXPLORER Transocean Marathon Asia Pacific Indonesia DS OCEAN ENDEAVOR Diamond Offshore BG Group…
2014 Focus Shifting to 2014 Availability 2013 2014 Name Contractor Operator Next Operators Area Country Type J F M A M J J A S O N D J F M A M J J A S O N D DISCOVERER ENTERPRISE Transocean BP BP GoM USA DS GSF C.R. LUIGS Transocean…
Strong Upward Momentum in Dayrates Historical dayrate development for deepwater drilling units by water depth Note: Crossed-over rigs are those with potential contracts OCEAN RIG UDW INC. 16
Strong Market Fundamentals Angola and US Gulf of Mexico key movers for the 2013 availability and will continue to factor in 2014 Further demand from East & West Africa, North Sea, Mediterranean, Malaysia, China, Australia Petrobras…
Looking Forward OCEAN RIG UDW INC.
Pure-Play Ultra-Deepwater Driller with Premium Assets Owned & operated ultra-deepwater fleet(1) Owned & operated drillships 35 25 30 20 25 6th largest fleet 5th largest of vessels of vessels 20 15 15 10 10 5 5 0 0…
Company Strategy 2012 A Transition Year Transition out of short-term into long-term contracts Build a world class organization becoming the preferred contractor for our stakeholders Maintain our track record of safety Maintain high…
Appendix OCEAN RIG UDW INC.
Income Statement OCEAN RIG UDW INC. 22
Balance Sheet OCEAN RIG UDW INC. 23
Fleet Status Report Notes Fleet Status Report located on the Ocean Rig website (www.ocean-rig.com) in the Investor Relations section. OCEAN RIG UDW INC. 24
Our Ultra Deepwater Fleet Two harsh environment semis Four 6th generation drillships Three 7th generation NB drillships Two of only 15 drilling units worldwide equipped to Of 30 UDW drilling units delivered in 2011 only 10 had…
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