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40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A.

Pacific Drilling S.A. · Mar 28, 2012 · 20 slides

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Slides

  1. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 1
    40thh Annual Howard Weil Energy Conference Chris Beckett, CEO March 28, 2012
  2. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 2
    Who is Pacific Drilling Who is Pacific Drilling FFocus on the th Growing Ultra Deepwater Market PurePlay y Commitment Ultra Financial to Deepwater Strength Shareholder Drillship Value Asset Base Dedication to…
  3. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 3
    A Global Growth Market A Global Growth Market Areas With Active Ultradeepwater Rig Programs In 2012 Areas With Active Ultradeepwater Rig Programs In 2012 Core Areas US Gulf of Mexico Attractive fiscal terms Lower Tertiary ultradeep…
  4. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 4
    Advanced Drillships Deliver on Industry Requirements Industry Requirements Industry Trends Industry Trends Over 40% Of Floaters Greater than 20 Years Old Over 40% Of Floaters Greater than 20 Years Old 1 Challenges of remote…
  5. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 5
    Rising Day Rates for Fixtures(2) Rates for Fixtures Day rate K/d Day rate, K/d 700 Contract Length 13 Years 650 3 Years 3 Years 600 550 500 450 400 Date 5/11 / 6/11 / 7/11 / 8/11 / 9/11 / 10/11 / 11/11 / 12/11…
  6. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 6
    UDW Demand Expected to Exceed Supply Through 2014(3) Exceed Supply Through 2014 Supply and Demand Forecast Projected 185 current unmet 170 165 demand 150 152 13 129 23 111 18 152 129 111 111 Supply Demand Supply…
  7. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 7
    Newer Rigs Enjoy Higher Utilization Rates Throughout Cycle Rates Throughout Cycle Current Floater Fleet by Delivery Year(4) Floater Utilization since 2008 by Build Cycle(4) 40 100 2007 Current 2007Current 19982006 35 95 30 90…
  8. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 8
    Pacific Drilling: Most Modern, Pure Play UDW Fleet Pure Play UDW Fleet Average Floater Fleet Depth and Age (6) More Modern 2020 2015 2010 Seadrill Ocean Rig 2005 Average Year Built 2000 Ensco North Atlantic Drilling…
  9. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 9
    Fleet Capabilities Designed to Satisfy Customer Demands Satisfy Customer Demands Consistent, Proven Design & Drilling Delivers Fleetwide Operating Synergies Package Fleetwide Water Depth Capability 10 Fleetwide Water Depth…
  10. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 10
    Dual Gradient Drilling GameChanging Technology GameChanging Technology A Proven Well Construction Advance Value to Operators Removes the effect of mud weight in the riser column Magazine (May 1st, 2010) Offshore Magazine (May 1…
  11. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 11
    Delivering on Promises Santa Ana on Becoming The Preferred UDW Drilling Contractor Becoming The Preferred UDW Drilling Contractor contract Ordered one additional drillship NYSE listing Closed 300 MM Closed 300 MM Bora and…
  12. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 12
    Delivering Operational Excellence Operational Excellence Construction and commissioning of 7 drillships at Samsung Initial 4 rigs delivered on time and on budget No lost time incidents (nearly 700,000 manhours) N l i i id ( l 700…
  13. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 13
    2.1 Billion Backlog With Blue Chip Operators With Blue Chip Operators Backlog Total ((10) (11) Contract Backlog Total, Contract ) ( ) MM MM Blue Chip Partners (12) Blue Chip Partners Percent of total deepwater developments by…
  14. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 14
    Balanced Mix of Dayrate Exposure and Contracted Backlog(13) and Contracted Backlog 2012 2013 2014 Options for up to Pacific Bora Chevron Nigeria, 475k/d (14) 2 years of 3 year contract with two additional one year options…
  15. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 15
    Strong Balance Sheet g (17) 5.5 5.5 0.5 Liquidity reserve, working Remaining debt funding capital and restricted cash 2.2 billion of net equity raised for Khamsin , Sharav & TBN 7 1.3 1.6 B from main sponsor, 0.6 B from…
  16. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 16
    Fleet Growth has the Potential to Propel EBITDA Growth to Propel EBITDA Growth Newbuilds and Future Rolloffs (18) Contracted at Result in these Levels of Future Projected the Following Day Rates: EBITDA, MM 730 500 K/d 390…
  17. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 17
    Committed to Shareholder Value Creation Value Creation 1 Target continued growth Benefit from strengthening UDW market conditions B ild on leading edge technolog e g d al gradient Build on leadingedge technology, e.g. dual…
  18. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 18
    40thh Annual Howard Weil Energy Conference Chris Beckett, CEO March 28, 2012
  19. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 19
    Footnotes 1) Floater age data from ODSPetrodata as of January 2012. Analysis by Pacific Drilling. Includes rigs under construction. 2) Data from ODSPetrodata as of March 20, 2012. Analysis by Pacific Drilling. Day rate excludes…
  20. 40TH ANNUAL HOWARD WEIL ENERGY CONFERENCE – Pacific Drilling S.A. – slide 20
    Appendix Future Capex Needs Projected to be 1 76B Needs Projected to be 1.76B Billion Projection (B)((19)) Quarterly Capex Projection (B) Quarterly Capex 1.76 Pacific TBN 7 Pacific Sharav Pacific Sharav Pacific Khamsin…

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