Skip to main content FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. | Shale Experts
Loading...
Database
Slide Database

FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A.

Pacific Drilling S.A. · Feb 26, 2014 · 29 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. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 1
    STRATEGY EXCELLENCE Investor Presentation GROWTH February 26, 2014
  2. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 2
    Committed to Being the Preferred Ultra-Deepwater Driller Most capable floater fleet in the industry Exclusively focused on ultra-deepwater NYSE: PACD Market Cap: 2.3 Billion(1) Substantial growth and more to come 1Q2011 1Q2014…
  3. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 3
    Financial Performance Highlights (m) 180 For the full year of 2013: 160 Total revenue of 745.6 million 140 Adjusted EBITDA(3) of 358.1 million 120 Adjusted EBITDA margin(4) of 48% 100 Revenue efficiency(5) of 93.5% Net income…
  4. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 4
    Positioned for Further Success STRATEGY EXCELLENCE GROWTH 5
  5. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 5
    Strategy Designed to Deliver Strategy for Shareholders Shareholder Returns Robust, Measured Growth Operational and Financial Excellence Targeted Geographies Management System Financial Discipline Passionate People…
  6. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 6
    New Rigs Should Receive Higher Strategy Asset Values and Multiples Greater Cash Adjusted for Implied Newer Rigs Enjoy Higher Utilization Rates Flow Potential Utilization EBITDA Throughout Cycle and (m) (m) Multiple (6) Floater…
  7. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 7
    Strategy Most Modern and Capable Floater Fleet Average Floater Rig Capability and Age (7) More Modern Vantage 2015 Seadrill 2012 Ocean 2008 Rig 2004 Average Year Built Ensco 2001 Atwood 1997 1994 Noble 1990…
  8. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 8
    The Only 100% Modern, Exclusively Strategy Ultra-Deepwater Fleet Percentage of Fleet Composition by Rig Capability and Type(7) 9% 10% 9% 25% 33% 48% 62% 63% 32% 67% 27% 100% 8% 82% 7% 20% 16% 21% 43% 10% 12% 33% 23%…
  9. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 9
    Clients Demand Newest Drillships Strategy For All Water Depths Advanced Rigs Deliver Value to Clients in All Water Depths through Significantly Enhanced Drilling Efficiency 88% of UDW Rigs Operate in Industry Trends Less Than…
  10. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 10
    Dayrate Bifurcation Between Newer Strategy and Older Floaters Has Increased Dayrate Trend for Floating Rigs By Delivery Period(9) 700 650 600 550 Dayrate (k) 500 450 400 350 300 Jan-12 Feb-12 Apr-12 May-12…
  11. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 11
    Demand for UDW Rigs Exceeds the Supply of Strategy Newest Generation Rigs Beyond 2016 (10) Supply and Demand Forecast Current Projections (Previous Years Projection) 216 193 204 (190) 11 176 166 (178) 153 (175) 11 (156) 67 139…
  12. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 12
    Excellence Exceptional Safety Performance LTIF 3.0 Pacific Bora achieved 3 years 2.44 2.5 without an LTI and 1 year without a recordable incident 1.95 1.88 Pacific Scirocco and Pacific 1.79 2.0 Mistral achieved 2…
  13. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 13
    Operational Excellence Delivering Excellence Strong Performance 100% 240.0 Improvement Driven By: 90% 220.0 1. Preventive maintenance 80% 200.0 programs 2. Planning of maintenance to 70% 180.0 coincide with between well…
  14. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 14
    Excellence Industry-Beating Adjusted EBITDA Margins Range of Adjusted EBITDA/Revenue for Offshore Drillers 65% 60% 55% 50% 45% 40% 35% 30% 25% 4Q2012 1Q2013 2Q2013 3Q2013 PACD Peer Offshore Driller Average NOTES:…
  15. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 15
    Excellence Contract Coverage Provides Visibility Days Contracted As Percentage of Days Available for 2014 and 2015(11) 99% 99% 85% 84% 83% 80% 79% 78% 76% 74% 68% 62% 60% 58% 54% 54% 53% 52% Ocean Rig Pacific Atwood…
  16. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 16
    Fewer Than 2.4 Rig Years Available Excellence Through 2015 Rig Availability as of February 25, 2014 2014 2015 2016 Commitment for 2 year extension, conditional upon client's partner Pacific Bora approval, 615k/d Priced option…
  17. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 17
    PACD Offers Superior Growth Potential: Growth Consensus Forecasts Projected Consensus Projected EBITDA CAGR 2013-2015 = 52% EBITDA Growth 250 PACD 200 AMZN GOOG 150 Peer Avg Big 3 Avg 100 2013 2014 2015 NOTES:…
  18. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 18
    Growth Drivers of Additional Revenue Growth +100% Historic Projected +64% +14% +100% 2.8x Growth +5% +2% Start-up of Historic Projected Fleet Confirmed Further Construction First 4 Rigs Revenue Revenue Expansion…
  19. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 19
    Growth in Profitability and Cashflow From Growth 8 Rig Fleet Allows for Distributions Cashflow from Operations Forecast (m) 700 600 500 400 600 300 350 200 230 100 2013 Actual 2014 2015 NOTES: Projected cashflow…
  20. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 20
    Recommended Distribution Aligns with Our Capital Allocation Strategy Board will recommend to shareholders distributions up to Fund Existing Invest in 152 Million in the aggregate in Growth Additional 2015 Profile Growth Target net…
  21. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 21
    Our Current Priorities and Potential Catalysts Drilling contracts Pacific Mistral extension Pacific Scirocco option exercise Pacific Meltem maiden contract Continued excellence in operations Initiation of cash distributions 22
  22. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 22
    Investor Contact Pacific Drilling Amy Roddy VP Investor Relations 3050 Post Oak Blvd 1500 Houston, Texas USA Phone: +1 832-255-0502 Email: Investorpacificdrilling.com www.pacificdrilling.com 23
  23. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 23
    Footnotes 1. Closing stock price of 10.56 as of February 21, 2014 and 217m shares outstanding. 2. Includes signed commitment for two-year extension on the Pacific Bora, which remains subject to approval from our clients partner. 3.…
  24. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 24
    Income Statement Appendix 25
  25. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 25
    Balance Sheet Appendix 26
  26. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 26
    Cash Flow Statement Appendix 27
  27. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 27
    EBITDA & Adjusted EBITDA Reconciliation Appendix EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as earnings before interest, costs from debt refinancing, loss of hire…
  28. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 28
    Debt Financing Overview as of December 31, 2013 Appendix Benefits of 2013 Refinancing Transaction Locked in historically low interest rates (5.2% on average for 5.5 years) Improved parent company liquidity Obtained a long-term…
  29. FEBRUARY 2014 INVESTOR PRESENTATION – Pacific Drilling S.A. – slide 29
    Contract Backlog Overview Appendix As of February 25, 2014 2014 2015 2016 Chevron Nigeria, 475k/d Commitment for 2 year extension, conditional upon client's partner Pacific Bora 3 year contract approval 615k/d Total Nigeria,…

From the store

Browse maps, data & reports in the Shale Experts store