Skip to main content UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC Investor Presentation | Shale Experts
Loading...
Pm

UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC

Seadrill Partners LLC · Jan 10, 2014 · 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. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 1
    Seadrill Partners LLC UBS MLP One-on-One Conference Park City, Utah, January 2014
  2. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 2
    Seadrill Partners Overview
  3. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 3
    Company Snapshot Pre- Post- Transaction (1) Transaction 6 8 Hemen Holding 3 ultra deep 5 UDW floaters (Fredriksen Group) Number water (UDW) 3 tender rigs of rigs 24.6% floaters 3 tender rigs Seadrill Limited Average (NYSE:…
  4. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 4
    Seadrill Partners Key Investment Highlights Increased production growth coming from Ultra-Deepwater prospects Strong Expectation for Increase in development drilling leading to longer Industry Dynamics contract duration in the medium…
  5. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 5
    Our Progress Since IPO 2.25 Major Events to Date 15% 12-15% increase Tender rig T-15 acquired for US210 million (100% increase recommended for debt financed), resulting distribution increase of 8% since IPO (1) Sirius / Leo Tender…
  6. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 6
    Seadrill Partners Long-Term Contract Coverage 2014 2015 2016 2017 2018 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West US213,931 Vencedor West US540,000 US615,000 Aquarius (1) West (1) US562…
  7. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 7
    Recent Acquisitions: Two Accretive Dropdowns West Leo West Sirius Acquired by Seadrill Operating LP (30% owned by Acquired by Seadrill Capricorn Holdings LLC (51% SDLP) owned by SDLP) Contract details: Contract details: Dayrate:…
  8. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 8
    West Leo & West Sirius Transaction Overview Use of Proceeds (mm) Rigs to be Acquired West Leo West Sirius Total Implied Purchase Price 1,250 1,035 2,285 Bank Debt (486) (220) (706) Interco Loan to OPCO (230) (230) Equity Portion 765…
  9. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 9
    Our Structure Facilitates Continued Growth Larger, diversified pool of jack- Long-term contracted deepwater up and deepwater rigs drilling assets Assets Term contracts with day rate Potentially long-term contracted, exposure modern…
  10. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 10
    Robust Industry Fundamentals Driving Offshore Drilling
  11. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 11
    Increased Service Intensity: More rigs working, but declining oil production 25 700 Number of Rigs Contracted Million Barrels per Day 24 600 23 500 22 400 2005 2006 2007 2008 2009 2010 2011 2012 2013 Total…
  12. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 12
    Ultra-Deepwater Production Growth Accelerating Global liquids production, by Global offshore production land and water depth by water depth 1960 - 2040 Million bbl/d 2012-2030 Thousand boe/d Replacement CAGR = 1.3% 80000…
  13. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 13
    Global Rig Supply & Demand Imbalance Favors Contractors Significant Newbuilds Required to Bridge Expected Demand Gap 500 450 400 Supply 350 Demand 189 300 (50) 60 250 455 200 150 316 256 100 50 0 Current Fleet Newbuilds…
  14. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 14
    Conclusion
  15. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 15
    Significant Potential Growth Going Forward 1 Additional New Assets from Seadrill West Saturn - N ewbuild West Jupiter - N ewbuild West Carina - N ewbuild West Aquila - N ewbuild West Libra - N ewbuild West Draco - N ewbuild…
  16. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 16
    Growth Opportunities 2 Acquisition of Additional OPCO Ownership Interests from Seadrill Ltd. - 70% of three UDW and one tender rig - 49% of two UDW rigs 3 Long-Term Contracted Jack-ups US 565,000 - Heads of Agreement signed with…
  17. UBS MLP ONE ON ONE CONFERENCE – Seadrill Partners LLC – slide 17
    Conclusion Strong Market Fundamentals Multiple Growth Opportunities 80000 Global offshore production 1 2 70000 by water depth 1960 - 2040 Additional Assets OPCO Interest from Seadrill Ltd. Acquisitions 60000 50000 40000 3 4…

From the store

Browse maps, data & reports in the Shale Experts store