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H1 2013 RESULTS – Hunting Plc

Hunting Plc · Aug 29, 2013 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. H1 2013 RESULTS – Hunting Plc – slide 1
    Hunting PLC Half Year Results 2013 Results for the six months ended 30 June 2013 1
  2. H1 2013 RESULTS – Hunting Plc – slide 2
    Highlights Performance* Revenue 424.4m (2012 406.9m) +4.3% EBITDA 75.6m (2012 77.7m) - 2.7% Profit before tax 59.3m (2012 61.6m) - 3.7% Diluted EPS 27.3p (2012 28.4p) - 3.9% Continuing internal investment programmes 2013…
  3. H1 2013 RESULTS – Hunting Plc – slide 3
    2013 Half Year Results Summary* H1) H1) 2013) Margin 2012) Margin Change m) % m) % % Revenue 424.4) 406.9) +4 EBITDA 75.6) 18 77.7) 19 -3 Profit from operations 61.2) 14 64.7) 16 -5 Finance expense (2.1) (3.5) Profit before tax…
  4. H1 2013 RESULTS – Hunting Plc – slide 4
    Segmental Results* H1 H1 2013 2012 Profit from Profit from) Revenue Operations Margin Revenue Operations) Margin m m % m m) % Hunting Energy Services Well Construction 124.4 18.0) 14 135.9 21.7 16 Well Completion 251.2 39.4) 16…
  5. H1 2013 RESULTS – Hunting Plc – slide 5
    Amortisation & Exceptional Items Continuing Operations H1 2013 m Amortisation of intangible assets 14.0 Inventory fair value charge 2.1 Oil & Gas reserve impairment and dry hole cost 2.4 Settlement of litigation and associated…
  6. H1 2013 RESULTS – Hunting Plc – slide 6
    Exceptional Items - Discontinued Operations H1) 2013) m) Release of Gibson Energy tax warranty provisions 7.6) Refund of tax payments 0.6) Loss on disposal of Field Aviation (0.1) Discontinued operations 8.1) Results for…
  7. H1 2013 RESULTS – Hunting Plc – slide 7
    Balance Sheet June) December) 2013) 2012) m) m) Property, plant and equipment 264.5) 248.5) Goodwill 325.3) 304.5) Other intangible assets 184.7) 185.2) Working capital 321.5) 267.7) Provisions (22.2) (29.6) Dividend payable paid 1…
  8. H1 2013 RESULTS – Hunting Plc – slide 8
    Capital Investment by Segment H1 H1 2013 2012 m m Hunting Energy Services Well Construction 8.2 12.7 Well Completion 7.5 13.1 Well Intervention 2.6 8.4 18.3 34.2 Exploration & Production 1.6 2.8 Others 0.2 0.2 20.1 37.2 Split:…
  9. H1 2013 RESULTS – Hunting Plc – slide 9
    Capital Investment by Project H1 2013 m Hunting Energy Services New drill tools and other rental equipment 7.0 Titan expansion US 1.3 Stafford expansion US 0.5 Other facility improvements 0.4 Asia Pacific machinery and…
  10. H1 2013 RESULTS – Hunting Plc – slide 10
    Cash Flow H1) H1) 2013) 2012) m) m) EBITDA 75.6) 77.7) Working capital (32.8) (0.6) Interest and bank fees (2.0) (3.3) Tax paid (3.4) (13.3) Replacement capital investment (12.8) (12.2) Other (1.2) 1.2) Free cash flow 23.4) 49.5)…
  11. H1 2013 RESULTS – Hunting Plc – slide 11
    Capital Investment Projects USm m Premium Threading Facility Houston, Texas 43 28 40 acre site operational Q4 2014 Test and Certification Facility Houston, Texas 11 7 Operational Q2/3 2014 Manufacturing Facility Houma, Louisiana…
  12. H1 2013 RESULTS – Hunting Plc – slide 12
    Hunting Strategy Market share strength Technology and R&D Product offering footprint Pricing Leverage Expanding our global footprint Integrate new business Products and geographies Proprietary products, delivering…
  13. H1 2013 RESULTS – Hunting Plc – slide 13
    Global Expansion Manufacturing Feeds to Hunting Titan Hunting Specialty Supply Growth Hunting Titan Expansion Hunting Doffing, Dearborn and Electronics (AMG) Hunting Well Intervention Africa Results for the six months ended…
  14. H1 2013 RESULTS – Hunting Plc – slide 14
    Operational Capacity Footprint Acquisitions Dearborn Titan W L Doffing Acquisitions Specialty Supply Innova Acquisitions National Coupling Welltonic PT SMB 2.8 Million Sq Ft 1.0 Million Sq Ft Results for the six months…
  15. H1 2013 RESULTS – Hunting Plc – slide 15
    Global Footprint 3M 9D 3M 3M 2D 25M 20D 1M 1M 1M 1M 3M 1M 1D 74 42 32 Locations Globally Manufacturing Distribution Results for the six months ended 30 June 2013 15
  16. H1 2013 RESULTS – Hunting Plc – slide 16
    Well Construction Results for the six months ended 30 June 2013 16
  17. H1 2013 RESULTS – Hunting Plc – slide 17
    Well Construction Results for the six months ended 30 June 2013 17
  18. H1 2013 RESULTS – Hunting Plc – slide 18
    Well Construction Approved construction of US Premium Connections Threading Facility, Testing Facility. Development of a Comprehensive Training Facility investing in our employees. Continued demand for high precision manufacturing.…
  19. H1 2013 RESULTS – Hunting Plc – slide 19
    Well Completion Results for the six months ended 30 June 2013 19
  20. H1 2013 RESULTS – Hunting Plc – slide 20
    Well Completion Results for the six months ended 30 June 2013 20
  21. H1 2013 RESULTS – Hunting Plc – slide 21
    Well Completion Approval for Phase II of the Houma, Louisiana base in support of continued expansion in the Gulf of Mexico. Pass critical testing of the Control Fire Perforating System providing a State of the Art Multi- Stage…
  22. H1 2013 RESULTS – Hunting Plc – slide 22
    Well Intervention Results for the six months ended 30 June 2013 22
  23. H1 2013 RESULTS – Hunting Plc – slide 23
    Well Intervention Results for the six months ended 30 June 2013 23
  24. H1 2013 RESULTS – Hunting Plc – slide 24
    Well Intervention Shale drilling in the US is increasing Well Intervention opportunities. Continued expansion of Thru Tubing Technologies globally, opening service centres in Canada and US. As drilling technologies advance, Well…
  25. H1 2013 RESULTS – Hunting Plc – slide 25
    Land Based Revenue Opportunities Drilling Costs Per Well: US6m to 9m Equipment Supplied: 21% Realised Revenue: US1.3m to 1.9m Trend of multi-pad wells is creating more revenue opportunity per rig. This configuration requires…
  26. H1 2013 RESULTS – Hunting Plc – slide 26
    Offshore Revenue Opportunities Drilling Costs Per Well: US112m Gulf Coast Threading Operations, Baytown, Equipment Supplied: 27% Texas (New for 2014) Realised Revenue: US30m North Sea Hunting global footprint to support offshore…
  27. H1 2013 RESULTS – Hunting Plc – slide 27
    Lean Manufacturing Update Throughout the first half of 2013, Hunting has continued the success of the lean manufacturing initiative. Achieving unprecedented levels of perforating gun production at Titan Pampa. 47% decrease in job…
  28. H1 2013 RESULTS – Hunting Plc – slide 28
    Flexible Manufacturing 8% of our manufacturing equipment is product specific. The other 92% can be re-tooled or reconfigured to consistently manufacture the full spectrum of products. Results for the six months ended 30 June 2013…
  29. H1 2013 RESULTS – Hunting Plc – slide 29
    Fundamental Business Drivers Results for the six months ended 30 June 2013 29
  30. H1 2013 RESULTS – Hunting Plc – slide 30
    Global Rig Count and Spend Trends 2013 Update Global View For 2013, E&P spending is projected to reach a new record of 678 billion globally. 10% increase above 2012s previous record of 617 billion, fourth consecutive year of double…
  31. H1 2013 RESULTS – Hunting Plc – slide 31
    US Pad Drilling and Effect on Rig Count and Wells Drilled Rig Count Decreasing While Wells Drilled Steadily Increases Greater Equipment Volume per Well Drilled Results for the six months ended 30 June 2013 31
  32. H1 2013 RESULTS – Hunting Plc – slide 32
    Global Rig Count and Spend Trends A Quarterly Industry View As drilling has shifted to predominately horizontal / directional drilling and multi-pad wells are gaining favour, rig count alone represents only one aspect of the economic…
  33. H1 2013 RESULTS – Hunting Plc – slide 33
    Global Rig Count and Spend Trends A Quarterly Industry View Quarterly representation of rig count and footage drilled for 2013 compared to the overall 2012 quarterly average. Results for the six months ended 30 June 2013 33…
  34. H1 2013 RESULTS – Hunting Plc – slide 34
    Increase in the Offshore Market Global offshore rig count and projected footage continues to increase above 2012 levels. Global rig count up 10% above 2012s count. Projected footage up 13% over 2012s footage. Spending is expected to…
  35. H1 2013 RESULTS – Hunting Plc – slide 35
    Increase in the Offshore Market (continued) Offshore spending is a major component of the overall E&P spending profile, requiring more technology, extreme focus on safety and quality of products. Globally, deepwater has become the…
  36. H1 2013 RESULTS – Hunting Plc – slide 36
    Wells Drilled Oil vs Gas (US) Results for the six months ended 30 June 2013 36 Source: Spears and Associates (2013 projected), IEA
  37. H1 2013 RESULTS – Hunting Plc – slide 37
    Land Footage Drilled Horizontal vs Vertical US (million) Results for the six months ended 30 June 2013 37 Source: Spears and Associates (2013 Projected)
  38. H1 2013 RESULTS – Hunting Plc – slide 38
    Global Offshore Footage Drilled and Well Count Results for the six months ended 30 June 2013 38 Source: Spears and Associates (2013 Projected)
  39. H1 2013 RESULTS – Hunting Plc – slide 39
    Africa Central Manufacturing Cape Town SA, additional in Mozambique and Tanzania Provide new product and repair services for East and West Africa Supporting NOCs, IOCs, OSCs presence Warehouse leased for product storage 1.44m 13 3/8…

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