SeaBird Exploration First Quarter Presentation 6 May 2014 CEO Dag Reynolds CFO Nils Haugestad
Forward-looking statements All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy and other plans and…
Highlights Financial results Revenues of 33.7 million (38.7 million Q4 2013) EBITDA of 10.2 million (3.9 million Q4 2013) Quarterly observations Earnings increased from previous quarter Higher utilization and multi-client…
Vessel utilization 1% 100% Q1 contract utilization of 64%, up 3% 5% 6% 13% from 53% in Q4 90% 7% 24% 4% 15% 4% Increase in multi-client activity 80% 41% 12% in Q1 2014 compared to 3% 70% 12% for Q4 2013 22% 60% Geo Pacific…
Income statement CONSOLIDATED INTERIM STATEMENT OF INCOME Quarter ended Year ended 31 March 31 December All figures in USD millions (except for EPS) Restated Restated 2014 2013 2013 Contract 30.5 49.9 166.3 Multi-client 3.2 0.1 11.0…
Cash flow statement CONSOLIDATED INTERIM STATEMENT OF CASH FLOW Quarter ended Year ended 31 March 31 December All figures in USD millions Restated Restated 2014 2013 2013 Profit/(loss) before income tax (0.4) 2.4 (8.3) Non-cash items…
Balance sheet CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION As of As of 31 31 March December All figures in USD millions (except for equity ratio) Restated Restated 2014 2013 2013 Property, plant and equipment 119.6 132.3…
Multi-client update Multi-client revenues in the Multi-client revenues by quarter (USD millions) quarter of 3.2 million 6 5.1 2.8 million related to Geo Pacific 5 3D survey 4.0 4 3.2 Remaining sales primarily relate to pre-2013…
Review of financing CONVENANT RESTRICTIONS USD millions AP + 60 Equity ratio Cash 31 March 2014 1.4 28.6% 16.0* Restrictions 31 March…
Contract developments 2D vessels Aquila Explorer continues to operate in the Australasia region Osprey Explorer commenced a 5,800km 2D survey in South America Hawk Explorer and Northern Explorer commenced a joint 20,000km survey in…
Mexicos untapped potential Energy reform; legislative changes allowing foreign investments in oil & gas sector Increased foreign interest for License Round Zero Limited seismic data available Only 20% of offshore acreage…
Frontier markets: East Africa project Project dynamics SeaBird capabilities 2D acquisition of up to Ability to effectively operate in a 20,000km by Hawk Explorer challenging operating environment and Northern Explorer over a High…
Pricing environment 2D High end Increase in 2D day rates during Q1 (USD thousand) 140 2014 125 120 110 110 110 110 3D rates remain stable at 2013 100 levels 80 90 90 90 90 60 70 Pricing environment is expected to 40 remain…
Market outlook Increased 2D and source market demand for the first half of 2014 Improved backlog Current demand needs to continue before we feel comfortable that the market has fully stabilized Niche 3D market has been slower…
Loading...
