Ocean Rig UDW Inc. 3rd Quarter Ended September 30, 2012 Earnings Presentation NASDAQ: OCEAN RIG UDW INC. ORIG November 15, 2012
Q3 2012 results Reported Net Loss: (12.2) million or (0.09) per share Plus 10-year class special survey (Eirik Raude) costs: 16.8 million or 0.13 per share Write-off of certain non-cash items due to early repayment of 1.04 facility :…
Recent developments Ocean Rig Poseidon was awarded a three year contract by a major European integrated oil company for drilling in Angola. We expect the unit to commence drilling operations in the second quarter 2013. Ocean Rig…
Company Highlights OCEAN RIG UDW INC.
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…
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…
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…
Financial Highlights OCEAN RIG UDW INC.
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…
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…
Closing Remarks OCEAN RIG UDW INC.
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…
Fleet status report Estimated Mobilization Days Estimated Off-Hire Days Estimated Available Drilling Days Year Built / Estimated Estimated Expected Commencement Completion Day Rate 2012 2013 2012 Footnote 2012 2013 UDW Unit Name…
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