Barclays CEO Energy Power Conference New York OCEAN RIG UDW INC. September 13, 2013
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 Large backlog & operating UDW high EBITDA growth assets since 2001 Favourable market Healthy debt profile fundamentals &…
Fleet growth & capital invested Multibillion investment since 2008 to deliver results in 2013 and beyond Newbuild TBN 600mil. OCR Mykonos 784 mil OCR Mylos OCR Apollo 670 mil. 683 mil. OCR Poseidon OCR Skyros 792 mil 669…
Significant experience operating UDW assets Operating in UDW since 2001 having drilled 161 wells for 31 clients over the last 10+ years Drilled in harsh environments and in nearly every deepwater area of the world Extensive…
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 Five 7th generation NB…
Pure-Play Ultra-Deepwater Driller with Premium Assets Owned & operated ultra-deepwater fleet(1) Owned & operated drillships 40 30 35 25 30 6th largest fleet 5th largest of vessels of vessels 20 25 20 15 15 10 10 5 5…
Solid multi-year fleet employment profile Average contract1 remaining fixed period of 2.9 years, 4.4 years with options 100%, 99%, 71%, 38% calendar days under contract2 in 2013, 2014, 2015, and 2016 respectively 5.9 billion backlog2…
Company Overview UDW Drilling Market Financial Review Summary Considerations OCEAN RIG UDW INC.
Offshore drilling and production assets utilized in E&P activities Exploration Development Production Decommissioning Period: 1-3 years 2-4 years 5-50+ years After 50+ years Inverse relationship Sensitivity to oil price: High…
UDW oil project breakeven keeps falling Technological advances have reduced the cost of deepwater well development Offshore projects are competitive with onshore projects Breakeven Brent oil prices for new developments Brent crude…
Supply constraints Supply of UDW newbuilding units available for employment peaking in Q3 2014 12 units found employment in the past three months UDW utilization approximately 100% since 2005 UDW Employment Availability 16 14…
Aged midwater & deepwater fleets Significant shortage of midwater and deepwater high specification assets This substantial increase in demand is stretching an aging and underinvested fleet Age Profile of MW fleet Age Profile of DW…
Company Overview UDW Drilling Market Financial Review Summary Considerations 14
Healthy liquidity & capital structure Pro forma (2) Ownership on September 10, 2013 (in million) 30-Jun-13 Shares Outstanding 131.7 million Total cash 687.4 Free float shares 53.4 million 1.35 bil Bank /ECA facility 450.0 % of…
Sensible growth All equity -over 727 million- for 2013 newbuilds already invested OCR Mylos delivered in August 2013 Modest capital expenditures associated with 2015 newbuildings ( million) Total Delivered Funded From Remaining…
Shift to corporate from project debt Term Loan B-1 Term Loan B-2 Reduced predominance of amortizing Bank/ECA facilities Amount 1,075 mil 825 mil Extended maturities with no significant maturities until Q2 2016 Improved Ocean Rig…
Company Overview UDW Drilling Market Financial Review Summary Considerations 19
Closing remarks Pure-play ultra-deepwater One of the few companies worldwide with 100% UDW capable fleet driller with premium Sixth largest UDW company globally with a fleet of 11 drillships/rigs assets Focus on UDW key areas West Africa…
Appendix OCEAN RIG UDW INC.
Strong contract backlog provides cash flow visibility Counterpartys Unit Year built Redelivery Counterparties Operating area Backlog(2) parent credit rating (mm) Leiv Eiriksson 2001 Q2 16 Rig Management Norway (1) Norway 520…
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