Ocean Rig UDW Inc. 4th Quarter Ended December 31, 2011 Earnings Presentation NASDAQ: ORIG February 23, 2012
Financial Highlights 2
Q4 2011 Results Reported Net Income: 36.5 million or 0.28 per share Analyst Consenus1: 0.21 per share 12th Consecutive Profitable Quarter 1 Based on Bloomberg Adjusted EPS Consensus data 2/16/2012 OCEAN RI G UDW I…
Selected Income Statement and Cashflow Data (in thous ands , ex c ept E P S ) Q 4 -2010 Q 4 2011 F Y 2010 F Y 2011 T otal R evenues 102,300 237,658 405,712 699,649 (1 ) Adjus ted E B IT D A 63,614 128,771 266,546 377,885 Net…
Healthy Liquidity & Capital Structure December 31, Ownership ( in millions) 2011 Shares Outstanding 131.7 million Cash 250.9 Free float shares 34.4 million Restricted cash 182.1 % of free float shares 26.1% Secured debt 2,246.1…
Minimal Construction Cost No material construction costs until 2H 2013 Already invested in excess of 720 million of our own funds in our 2013 newbuilds Remaining construction costs to be funded primarily with debt financing Upgrades…
Debt Profile Our aggressive loan amortization schedule increases shareholder value Entered into two amortizing interest rate swap agreements for a notional amount of 700 million. Fixed interest rate at approx. 0.9% through April…
Company Update 8
2.3 billion Backlog Signed new drilling contract for the Leiv Eiriksson with a consortium lead by an Oil Major for drilling offshore Norway. The maximum total revenue backlog is estimated at 653 million for a period of 1,070 days…
Employment Strategy Taking advantage of tight 2012 market to secure lucrative long term contracts Our 6th generation drillship Ocean Rig Olympia open for employment Q2 2012 Our harsh environment rig Eirik Raude open for employment…
All Units Operated Efficiently in 2011 Two harsh environment semis Four 6th generation drillships FY2011 Earnings Efficiency: LE ER Corcovado Olympia Poseidon Mykonos Mobilizing 97.6% 97.4% 93.0% 91.0% 93.5% to Brazil…
Industry Overview 12
Recent UDW Fixtures High Rates High rates for high quality UDW assets Source: Fearnleys OCEAN RI G UDW I NC. 13
Very Tight Supply Positioned to capitalize on strong long-term market rates The list keeps getting shorter Source: Fearnleys OCEAN RI G UDW I NC. 14
E&P Spending Continues to Increase ( billion) Announced 2012 Capital Budgets Type Company 2011E 2012E 2012E Major Chevron 25 29 15% Major ConocoPhillips 12 14 15% Major BG Group 7 9 28% Major Shell 21 26 20% Major BP 16 18…
Looking Forward 16
Our Achievements to Date Took delivery of all four 6th generation drillships on time and on budget Financed drillships despite challenging financial markets, issued 500 million unsecured notes Recruited crew for all new rigs now more…
Brazilian Rig Project A Consortium in which Ocean Rig is a participant, has been awarded five 15-year contracts from Petrobras Daily rate of 548,000 Over 15 billion in revenue backlog Strong foothold in Brazilian UDW drilling…
Our Resolutions for 2012 Secure long-term contracts for Ocean Rig Olympia and Eirik Raude Maintain our track record of safety and highly efficient operations Become a premier drilling contractor for our customers and employees…
Appendix 20
Income Statement (Expressed in Thousands of U.S. Dollars Three Months Ended Year Ended except for share and per share data) December 31, December 31, 2010 2011 2010 2011 (as restated) REVENUES: Revenues from drilling contracts…
Balance Sheet (Expressed in Thousands of U.S. Dollars) December 31, 2010 December 31, 2011 ASSETS CURRENT ASSETS: Cash and cash equivalents 95,707 250,878 Restricted cash 512,793 57,060 Other current assets 63,506 212,647 Total…
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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