SeaBird Exploration Third Quarter Presentation 31 October 2013 CEO Dag Reynolds CFO Nils Haugestad
Forward-looking statements All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy and other plans and…
Highlights Financial results Revenues of 51.9 million (40.2 million Q2 2013) EBITDA of 13.2million (3.7 million Q2 2013) EBIT of 6.7 million (negative 2.4 million Q2 2013) Quarterly observations Revenues and earnings up from…
Quarterly vessel utilization Vessel utilization 2013 1% Contract utilization at 82%, up from 100% 5% 6% 57% in Q2 7% 13% 90% 4% 15% Reduced multi-client investment for 80% 4% the period Q3 multi-client utilization of 4% 70% 22%…
Income statement CONSOLIDATED INTERIM STATEMENT OF INCOME Quarter ended Nine months ended 30 September 30 September All figures in USD millions (except for EPS) 2013 2012 2013 2012 Contract 50.1 38.4 134.8 107.2 Multi-client 1.8 7.1…
Cash flow statement CONSOLIDATED INTERIM STATEMENT OF CASH FLOW Quarter ended Nine months ended 30 September 30 September All figures in USD millions 2013 2012 2013 2012 Profit/(loss) before income tax 3.4 0.8 0.4 (6.6) Non cash…
Balance sheet CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION As of As of 30 September 31 December All figures in USD millions (except for EPS) 2013 2012 2012 Property, plant and equipment 129.4 131.4 130.8 Multi-client library…
Multi-client operations Multi-client revenues by quarter Multi-client sales in the quarter of 8 (USD million) 7.1 1.8 million 7 Primarily related to late sales from 6 pre 2013 surveys 5 4.0 4 3 Multi-client investment was 1.3m…
Funded debt review USD millions AP +60 Equity ratio Cash 30 September 2013 4.3 26.4% 14.0 Restrictions AP +60 Equity ratio Cash 30 September 2013 < 5.0 22.5% 10.0 Funded debt profile (USD millions) 120 111.1 10.3 101.0 100 14.9…
Well positioned fleet mix 2D vessels and source vessels 3D vessels Geo Pacific 8 X 6000m Shallow water 3D vessels Kondor Explorer Harrier Explorer Aquila Explorer Voyager Explorer 4 X 8000m 4 X 6000m Munin Explorer Hawk…
Geo Pacific strong performance despite challenging environment Geo Pacific was fully utilized throughout the third quarter Challenging operating conditions impacted production speed Strong and multi-depth variable current Fishing…
Dockings and upgrades Northern Explorer completed scheduled engine overhaul and intermediate class work Continued effort to upgrade technology to maintain best-in-class performance Osprey streamer upgrade completed during the…
Multi-client developments Continuing to execute our multi-client strategy Four projects completed to date in 2013 Will continue to carefully evaluate investment opportunities Important that we create a well-balanced portfolio Will…
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