Goldman Sachs EMEA Leveraged Finance Conference London OCEAN RIG UDW INC. 22 October, 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 5.8 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 UDW utilization approximately 100% since 2005 UDW Employment Availability 16 14 5 12 3 UDW Units 10 8 Newbuilds Existing…
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 October 15, 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 free…
Shift to corporate from project debt Reduced predominance of amortizing Bank/ECA facilities Extended maturities with no significant maturities until Q2 2016 Improved Ocean Rig liquidity through more sensible debt amortization 9.5%…
Improving credit metrics Improving credit metrics on a Total Debt1 basis and significantly better on a Net Debt basis Loan-to-Value of approximately 64% Strong revenue backlog coverage : 584 million per UDW unit2 Projected 3 ORIG…
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…
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