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2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc.

Gulfmark Offshore, Inc. · Dec 10, 2014 · 23 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. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 1
    2014 Wells Fargo Energy Symposium December 2014 1 GulfMark GulfMark A Offshore, Offshore, Inc. Inc. company NYSE:GLF GULFMARK.COM
  2. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 2
    Long Term Revenue, EBITDA & Utilization (USD in Millions) 700 100% 90% 600 80% 500 70% 60% Utilization 400 50% 300 40% 200 30% 20% 100 10% 0 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012…
  3. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 3
    Global Vessel Solutions 4 As of Dec 1st 2014
  4. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 4
    Fleet Growth 5 As of Dec 1st 2014
  5. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 5
    Young & Versatile Fleet Secondary Market Purchases Vessel Vintage by Year Average one vessel purchase per year for 14 last three years 13 Two in 2012: 12 One 2010-built DP2 PSV for US GoM One 2006-built DP2 PSV for UK North Sea…
  6. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 6
    Vessel Dispositions Demonstrate Long-Term Value Sales Price as a Vessel Year of Year Age at Sales Original Percentage of Name Sale Built Disposal Price Cost Original Cost Highland Vanguard 2014 1990 24 6,000,000 15,691,776 38%…
  7. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 7
    A Changing Environment Declining commodity prices and E&P Spending Significant number of new generation rigs allows for increased activity in: Deepwater Remote drilling locations Harsh environment Industry and regulatory call for…
  8. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 8
    The New Breed Of PSV GULFMARKS Length Breadth 92.6m 19.2m ARCTIC CLASS Dwt 5000T Speed 17kts WINTERIZED ERN 99,99,99,99 SPS CODE Oil Recovery 1000m2 Deck DP2 Dry Bulk Tanks Ice-1B Hull Diesel Electric Maximized Special Mud,…
  9. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 9
    New Construction Delivery Schedule 300 Class Europe 887 DEFENDER Jul 10, 2013 300 Class Arctic Europe Arctic POMOR Jul 26, 2013 280 Class Europe 879 CHIEFTAIN Sep 14, 2013 300 Class Europe 887 GUARDIAN Sep 26, 2013 250 Class…
  10. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 10
    Vessel Enhancement Schedule Six 190 Class PSVs have been lengthened to 230 Class Nine 210 Class PSVs being lengthened to 260 Class DEFENDER POMOR St. Louis COMPLETED Sep 30, 2013 Toulouse COMPLETED Nov 9, 2013 Orleans…
  11. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 11
    DEMAND DRIVERS 12 12
  12. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 12
    Rig Count Growth North Sea FLOATING RIGS Drilling 36 Gross Additions 8 (through Q4 2015) % Increase 22% JACKUPS Drilling 44 Gross Additions 1 (through Q4 2015) % Increase 2% Source: IHS Petrodata as of 12/1/14 13
  13. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 13
    Floating Rig Count Growth U.S. GoM FLOATING RIGS IN U.S. GOM Currently Drilling 42 Gross Additions 11 (through Q4 2015) % Increase 26% Source: IHS Petrodata as of 12/1/14 14
  14. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 14
    Vessel To Rig Ratio U.S. Gulf of Mexico 10 10 Historic Forecast 9 9 8.3 8.1 8 8 7 6.5 7 6 6 5.3 5.2 5.0 4.9 5.0 5.0 4.7 4.7 4.8 4.8 4.8 5 4.5 4.5 4.5 5 4.4 4.3 4.4 4.4 4.4 4.6 4.5 4 4.4 4.4 4.3 4.4 4.3 4 4.2 3 3…
  15. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 15
    Vessel To Rig Ratio North Sea 10.0 10 Historic Forecast 9.0 9 8.0 8 7.0 7 6.0 6 5.0 5.1 4.9 5.0 4.7 4.7 4.6 4.7 4.6 4.5 5 4.5 4.4 4.4 4.5 4.4 4.4 4.2 4.4 4.2 4.1 4.3 4.1 4.2 4.2 4.3 4.3 4.3 4.4 3.8 4.0 4 4.2 4.0 4.0…
  16. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 16
    FINANCIAL INFORMATION 17 17
  17. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 17
    Revenue 18 As at end of Q3 2014
  18. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 18
    Day Rate in Backlog Remains Strong (USD in Millions) 1,000 25,000 900 800 20,000 700 Day Rate 600 15,000 500 400 10,000 300 200 5,000 100 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  19. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 19
    Net-Debt Position (USD in Millions) 600 35% Target Range 30% Net-Debt to Total Book Capitalization 500 25% Debt Net- 400 20% 300 15% 200 10% 100 5% 0 0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  20. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 20
    2014 - 2015 Non-Operating Uses of Cash Use 2014E 2015E (USD in Millions) New Build Program 100 73 Acquisitions & Enhancements 65 10 Sub-Total 165 83 Dividends 26 26 Total Committed Non-Operating Cash Uses 191 109 21…
  21. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 21
    Share Repurchase Update Shares % of Shares Time Period Cash Spent Average Price Repurchased Outstanding 2012-2013 13,255 373,619 35.48 1.4% 2014 57,651 1,883,648 30.59 7.1% Total 70,906 2,257,267 31.41 8.6% Total Authorization…
  22. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 22
    Reconciliation Of Adjusted EBITDA As of Sep 30th 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM Net (loss) income (4.6) 38.4 89.7 99.0 183.8 50.6 (34.7) 49.9 19.3 70.6 80.7 Interest expense, net 17.0 18.4 14.4 4.8 12.8 19.9…
  23. 2014 WELLS FARGO ENERGY SYMPOSIUM – Gulfmark Offshore, Inc. – slide 23
    24

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