Skip to main content Q2 2012 EARNINGS CALL – Songa Offshore Investor Presentation | Shale Experts
Loading...
Pm

Q2 2012 EARNINGS CALL – Songa Offshore

Songa Offshore · Aug 20, 2012 · 17 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. Q2 2012 EARNINGS CALL – Songa Offshore – slide 1
    Songa Offshore SE Results for Q3 2010 November 5, 2010 2nd Quarter 2012 Results August 20, 2012 20.08.12
  2. Q2 2012 EARNINGS CALL – Songa Offshore – slide 2
    Highlights Q2/Q3 2012 Concluded a private placement of 35.2 million shares at 18 NOK/share Eclipse commencement of contract with Total on 21st May 2012. NOK 750 mill unsecured bond completed June 1st. Completion og US 221.6 mill…
  3. Q2 2012 EARNINGS CALL – Songa Offshore – slide 3
    Current global presence and clients Norwegian North Sea Headquartered in Cyprus Trinidad / Cuba Malaysia Angola 20.08.12 3
  4. Q2 2012 EARNINGS CALL – Songa Offshore – slide 4
    Fleet Update Rig Q2 2012 Comments Operating Efficiency Dee 93 % Delta 95 % Trym 98 % Venus 98 % Mercur 100 % (in transit) Eclipse 79 % Songa Dee Normal operation Songa Delta Arrived in CCB on July 29th for contractual…
  5. Q2 2012 EARNINGS CALL – Songa Offshore – slide 5
    Operating capabilities Songa Fleet quarterly utilization % 100 95 97 97 97 97 97 96 95 97 95 95 97 92 92 94 94 91 91 90 87 86 80 72 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  6. Q2 2012 EARNINGS CALL – Songa Offshore – slide 6
    Contract Status Strong firm backlog of USD 7.0 billion and USD 8.7 billion from options 20.08.12
  7. Q2 2012 EARNINGS CALL – Songa Offshore – slide 7
    Cat D Project status update Constructed on Daewoo Shipbuilding & Marine Engineering in South Korea Proven Shipyard low execution risk 2nd largest shipyard in the world Delivered 40 semi-submersibles and drillships since 1982…
  8. Q2 2012 EARNINGS CALL – Songa Offshore – slide 8
    Recent Market Highlights (midwater) Few midwater fixtures outside NS since May Rig name Market category WD (ft) Day rate Contract description Fixture date Region Songa Mercur…
  9. Q2 2012 EARNINGS CALL – Songa Offshore – slide 9
    Near term focus points Execution of Delta and Trym upgrades & SPS Financing or alternative structures for the CAT D rigs Optimization of global business structure 20.08.12
  10. Q2 2012 EARNINGS CALL – Songa Offshore – slide 10
    P&L Q2 2012 20.08.12
  11. Q2 2012 EARNINGS CALL – Songa Offshore – slide 11
    Revenues and quarterly day rates Q2 USD '000 Venus Mercur Eclipse Delta Dee Trym Other Group Operating revenue 20,169 3,363 20,273 41,361 29,620 33,928 - 148,713 Mobilisation - 692 891 - - 885 - 2,468 Reimbursables 2,932 2,914 - 428 260…
  12. Q2 2012 EARNINGS CALL – Songa Offshore – slide 12
    Operating expenses USD '000 VENUS MERCUR ECLIPSE DELTA DEE TRYM MGMT TOTAL Rig OPEX offshore 9,372 7,066 19,228 16,301 16,847 15,637 - 84,450 Management Fee Odfjell - - - 2,069 - 1,896 - 3,965 Total Rig OPEX 9,372 7,066 19,228 18,370…
  13. Q2 2012 EARNINGS CALL – Songa Offshore – slide 13
    Balance Sheet Songa Offshore Group Condensed consolidated statement of financial position at 30 June 2012 (IFRS - unaudited figures) (USD '000) 30/06/2012 31/12/2011 ASSETS Non-current assets Rigs, machinery and equipment…
  14. Q2 2012 EARNINGS CALL – Songa Offshore – slide 14
    Balance Sheet Songa Offshore Group Condensed consolidated statement of financial position at 30 June 2012 (IFRS - unaudited figures) (USD '000) 30/06/2012 31/12/2011 EQUITY AND LIABILITIES C apital and reserves Issued capital…
  15. Q2 2012 EARNINGS CALL – Songa Offshore – slide 15
    Investments Investments in rigs 2012 USD '000 Q1 Q2 YTD Songa Venus 1,629 954 2,583 Songa Mercur 958 890 1,848 Songa Eclipse 5,658 8,276 13,934 Songa Delta 18,775 7,751 26,526 Songa Dee 7,801 27,811 35,613 Songa Trym 7,090…
  16. Q2 2012 EARNINGS CALL – Songa Offshore – slide 16
    Capital structure Songa Offshore SE Results Total capital structure and enterprise value in USD millionfor Q3 2010 Enterprise value: Market cap+external debt-cash 3,000 November 5, 2010 2,500 1277 2,000 USD million 1155…
  17. Q2 2012 EARNINGS CALL – Songa Offshore – slide 17
    Q&A

From the store

Browse maps, data & reports in the Shale Experts store