Polarcus in brief Seven high-end 3D seismic vessels 11% market share Youngest most uniform fleet in industry 500+ professionals and global presence State of the art technology with complete broadband solution Specialized…
Highlights H1 2013 A company in growth Revenues of USD 275.3 million, up 28% from H1 2012 EBITDA of USD 104.0 million, up 51% from H1 2012 EBIT of USD 57.9 million, up 84% from H1 2012 Net Cash Flow from operating activities of…
Robust balance sheet New debt maturity profile Long term fleet bank facility with fixed interest of 5.6% New USD 95m bond with 8% interest to refinance: USD 60 million 2nd lien 2011/2016 bond with 12.5% interest 125 95 120 110…
Update on lawsuit filed by WesternGeco On 15 August 2013 WesternGeco filed a lawsuit in Texas, USA, for alleged US patent infringement against Polarcus US Inc. and Polarcus Limited Applies to four method and apparatus patents for…
Polarcus share information Top 20 Shareholders (as per 26 Aug) Listed on the Oslo Stock Shareholder ZICKERMAN HOLDING LT Share 40,571,476 % 8.00 Exchange VARMA MUTUAL PENSION 23,648,025 4.66 ZICKERMAN GROUP LTD 23,178,081 4.57…
Operational performance End August Technical downtime < 5% for Q2 Completion of 12 month Woodside Polarcus Nadia project in Q2 (22,000 sq.km in 11 months) Polarcus Amani Polarcus Alima Production record of 2900sq.km Polarcus…
Polarcus Nadia & Naila propulsion upgrade Polarcus Nadia and Naila are the only vessels with thruster units in the PLCS fleet. Upgrade to Berg Propulsion Twin Fin conventional straight shaft is planned for H1 and H2 2014 CAPEX of…
Multi-client library in the making MC Project Library now 25,000 km 3D data Established a new core area in the UK Southern Gas Basin in Q2 13 Catcher Projects 6,100 sq. km Strong revenues forecast for Q4 following the 27th Round…
Global 3D Seismic Fleet Capacity No. Vessels Company Vessel Streamer cap. Estimated seismic fleet growth 2013 2015 net 2% YOY assuming vessel retirement 1 PGS Ramform Titan 16 1 Dolphin Sanco Swift 12 2013 1 PGS Ramform Atlas…
Robust E&P demand Robust E&P growth expected YOY for the coming few years Marine seismic representing 3% of Global Offshore E&P spend USD/bbl Comfort zone Brent crude oil 140 Seismic demand projected to 120 grow 10 % YOY…
Global seismic outlook North America: Increased focus NW Europe: Consistent high Russian Arctic: Rosneft & from Supermajors and new WAZ activity for MC and Contract Gazprom awarded extensive surveys in Nova Scotia behind active license…
Russia 3D market outlook 2013-18 The New Russian offshore 3D Seismic market in km Russian Arctic 4 x the size of Gulf of 25,000 Mexico 20,000 Projected 3D 3D in km 15,000 Arctic demand Significantly improved tax regime…
Backlog Received contract tenders in USD million (As of Aug) USD 215 million contract backlog* 400 Millions 350 Contract backlog secured in the range of 300 USD 260k-330k/day 250 Booked capacity Q3 2013 - 100% 200…
RIGHTSIZE RIGHTDESIGN RIGHTPLAN Polarcus Nadia Polarcus Naila Polarcus Asima Polarcus Alima Type 3D Vessel Type 3D Vessel Type 3D Vessel Type 3D Vessel Design Ulstein SX124 Design Ulstein SX124 Design Ulstein SX134 Design Ulstein…
Polarcus offering First High Base- High 4D Multi- Multi- Arctic Multi Pass Density line 4D density Monitor vessel vessel Operations Azimuth Wide tow 3D 4D 3D 4D Monitor Vessel + Equipment Personnel + Procedures Acquisition…
Awards through RIGHTDESIGN DYNPOS-AUTR Systems redundancy CLEAN DESIGN IMO Green Passport with DP2 High specification Triple E exhaust catalysts Environmental & Energy Efficiency Sentinel solid streamers ULSTEIN X-BOW…
Pioneering environmental leadership DNVs Triple-E is a voluntary environmental performance rating scheme for ships, independent of class, age and flag 1 Key measures of Energy & Environmental Efficiency : 2 Leading Environmental…
Debt overview Balance Debt Security Size Tenure Maturity Interest 30 June 2013 Convertible bond Unsecured USD 35m USD 35m 5 years Fully paid Jul-13 8.50% Unsecured bond Unsecured NOK 230m NOK 230m 3 years Nov-14 14.00%…
Potential Arctic oil and gas resources The region within the Arctic circle covers 6% of the worlds surface, though a USGS study estimated that the Arctic could hold about 20% of the worlds undiscovered but recoverable oil and…
Attractiveness of Russian Arctic The new offshore tax regime represents a major break-through in Russian oil sector Specific tax rate has been reduced from 87% to 5 - 15% in the Arctic; guaranteed for 10 15 years making the IRR very…
New offshore tax regime in Russia Offshore taxation represents a major break- through in Russian oil sector taxation. The overall marginal oil & gas specific tax rate has reduced from 87% for brownfields to 5%-30% for offshore…
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