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IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A.

Pacific Drilling S.A. · Aug 28, 2012 · 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. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 1
    Simmons 2012 European Energy Conference August 2829, 2012
  2. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 2
    Who is Pacific Drilling g FFocus on the th Growing Ultra Deepwater Market PurePlay y Commitment Ultra Financial to Deepwater Strength Shareholder Drillship Value Asset Base Dedication to Operational…
  3. IMMONS 2012 EUROPEAN 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. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 4
    Advanced Drillships Deliver on Industry Requirements Industry Requirements Industry Trends y Over 50% Of Floaters Greater than 10 Years Old 1 Challenges of remote drilling sites 2 Drilling deeper and with longer offsets 40% 3…
  5. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 5
    UDW Demand Expected to Exceed Supply Through 2014(2) Exceed Supply Through 2014 Supply and Demand Forecast 180 165 169 150 20 145 127 22 16 149 128 111 Supply Demand Supply Demand Supply Demand 2012 2013…
  6. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 6
    Recent Pricing Data Indicates Cyc ca Ups g Cyclical Upswing Contract Dayrates for 5th Gen and Later UltraDeepwater Floaters(3) Day rate, K/d 700 650 Saudi Arabia Ghana USGOM 600 Angola g Angola USGOM Angola 550 USGOM4 USGOM…
  7. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 7
    Newer Rigs Enjoy Higher Utilization Rates Throughout Cycle(5) Rates Throughout Cycle Current Floater Fleet by Delivery Year Floater Utilization since 2008 by Build Cycle 40 100 2007 Current 2007Current 19982006 35 95 30 90 25…
  8. IMMONS 2012 EUROPEAN 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 (7) More Modern 2020 2015 2010 Seadrill O Ocean Rig Ri Average Year Built 2005 Ensco Songa North Atlantic…
  9. IMMONS 2012 EUROPEAN 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. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 10
    Dual Gradient Drilling GameChanging Game Changing Technology Technology A Proven Well Construction Advance Value to Operators Removes the effect of mud weight in the riser Offshore Magazine (May 1st, 2010) column and provides…
  11. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 11
    Delivering on Promises g 1 drilling contract signed g Becoming The Preferred UDW Drilling Contractor Becoming The Preferred UDW Drilling Contractor Closed 200 MM TI letter of credit facilities NYSE listing Ordered one…
  12. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 12
    Delivering Operational Excellence Operational Excellence Excellent construction and commissioning of 7 drillships at Samsung Initial 4 rigs delivered on time and on budget No lost time incidents (LTIs) (nearly 750,000 manhours) N…
  13. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 13
    3.1 Billion Backlog With Blue Chip Operators With Blue Chip Operators Backlog Total ((11) (12) Contract Backlog Total, Contract ) ( ) MM MM Blue Chip Partners (13) Blue Chip Partners Percent of total deepwater developments by…
  14. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 14
    Balanced Mix of Dayrate Exposure and Contracted Backlog(15) and Contracted Backlog 2012 2013 2014 Options for up to Pacific Bora Chevron Nigeria, 475k/d (16) 2 years of 3 year contract additional term Pacific Pacific l Ni i…
  15. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 15
    Strong Initial Funding for g g Rigs g Capital Expenditure vs. Funding Sources, B 17 1.7 Project Facilities Agreement 3.2 Equity contribution Remaining debt to be f from sponsor closed in 4Q2012 (17) 0.9 1.5 1.2…
  16. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 16
    Solid Capitalization p Balance Sheet as of June 30, 2012, (19) B 4.52 4.52 Other 0.40 0.36 Other Restricted Cash 0.25 Cash 0.27 LongTerm Debt 1.87 Property & Equipment net Equipment, net 3.60 Sh h ld Shareholders…
  17. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 17
    Fleet Growth has the Potential to Propel EBITDA Growth to Propel EBITDA Growth Newbuilds and Future Rolloffs (20) Contracted at Result in these Levels of Future Projected the Following Dayrates: EBITDA MM EBITDA, MM 500 K/d…
  18. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 18
    Newbuild Considerations Considerations: Informed By: Long term market view Project Returns Newbuild cost Maximum 2 rig exposure Project Risk Financing requirements Operational Rig staffing Rig staffing Constraints…
  19. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 19
    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…
  20. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 20
    Footnotes 1) Floater age data from ODSPetrodata as of August 15, 2012. Analysis by Pacific Drilling. Includes rigs under construction. 2) Supply data from ODSPetrodata as of August 16, 2012, for rigs with water depth capability of 7,500…
  21. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 21
    Appendix Future Capex Needs Projected to be 1.6 Billion Projected to be 1.6 Billion Quarterly Capex Projection (MM)(21) Prior 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 Total Pacific Khamsin 82.7 7.6…
  22. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 22
    Balance Sheet(19) Appendix Balance Sheet Appendix PACIFIC DRILLING S.A. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except par value and share amounts) June 30, December 31, 2012 2011 (unaudited)…
  23. IMMONS 2012 EUROPEAN ENERGY CONFERENCE – Pacific Drilling S.A. – slide 23
    Appendix Statement of Operations(19) of Operations PACIFIC DRILLING S.A. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (in thousands, except share and per share information) (unaudited) Three Months Ended June…

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