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PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc.

Gulfmark Offshore, Inc. · Sep 1, 2011 · 22 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. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 1
    GulfMark Offshore, Inc September 2011 Investor Presentation Pareto Securities Oil & Offshore Conference
  2. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 2
    Total Revenue in Backlog (in thousands of dollars) 1,000,000 25,000 900,000 22,500 800,000 20,000 700,000 17,500 600,000 Average Day Rate 15,000 in Backlog 500,000 12,500 400,000 10,000 300,000 7,500 Dollars in…
  3. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 3
    Global Vessel Diversification North Sea PSV 21 Worldwide US Gulf AHTS 1 PSV 47 SpV 1 AHTS 17 PSV 10 FSV/Crew 3 FSV/Crew 8 SpV 2 Total 74 Mexico West Africa SE Asia 4 AHTS 2 AHTS 2 PSV 3 Crew 1 AHTS 11 Trinidad PSV 6 Gulf of…
  4. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 4
    Dry Powder Continues to Grow (in thousands of dollars) 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Liquidity 5
  5. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 5
    Consistent Reduction in Net Debt Position 500,000 40% 450,000 Net-Debt to 35% Total Book 400,000 Capitalization Net-Debt 30% 350,000 Finalization of Prior New-Build Program 25% 300,000 250,000 20% 200,000 15%…
  6. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 6
    Current Debt Structure 160 million Sr. Notes, 7.75% Matures July 2014 Call Premium of 1.292%, or 2.1 million 200 million Term-Loan, LIBOR+2.5%, 150 million Outstanding Goes to Current Classification on December 31 (Matures 2012)…
  7. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 7
    Benefits of Geographic Diversification 8
  8. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 8
    Gulf of Mexico: Deepwater Utilization on Recovery Decreased Exposure to U.S. Gulf of Mexico by Approximately 50% Lower Utilization, but also Lower Revenue Exposure in the U.S. Gulf of Mexico Option Value of Positioning Vessels on…
  9. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 9
    Long Term Revenue & EBITDA (in millions of dollars) 700 700 Revenue EBITDA* 600 600 500 500 400 400 300 300 200 200 100 100 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 TTM * Note:…
  10. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 10
    2011 by Quarter Actual and Consensus (in thousands of dollars) (in thousands) Q1 Q2 Q3 Q4 2011 (Actual) (Actual) (Consensus*) (Consensus*) (Consensus*) Revenues 81,289 96,911 101,740 100,780 380,720 Direct operating expenses 44,318…
  11. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 11
    Strong Customer Base Smaller Independents & Others Super Majors & 31% National Oil Companies 43% Majors & Large Independents 26% Note: Percentages Based on Vessel Count as of August 1, 2011 12
  12. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 12
    The GulfMark Fleet 13
  13. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 13
    Vessels Built in Year 14 10 11 12 13 14 15 16 0 1 2 3 4 5 6 8 9 7 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Vessels not in…
  14. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 14
    Worldwide Vessel Fleet by Category 1400 1400 1200 1200 1000 1000 800 800 600 600 GulfMark Vessel Focus 400 400 200 200 0 0 AHTS XL PSV Large PSV Medium AHTS Large AHTS Medium AHTS Small PSV Small Vessel…
  15. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 15
    Vessel Dispositions Demonstrate Long-Term Value Sales Price as Year Year Age at Sales Original a Percentage of Vessel Name Of Sale Built Disposal Price () Cost () Original Cost North Traveller 2010 1998 12 18,692,000 17,775,436…
  16. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 16
    Young & Versatile Fleet Major Construction & Acquisition Programs Underway Since 2000 July 2011 7% 16% 77% Vessels built prior to January 1990 Vessels built or acquired between January 1990 and January 2000 Vessels…
  17. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 17
    New Build Program Announced Three New Platform Supply Vessels Announced Expected to Operate in North Sea Region, Built by Remontowa Shipbuilding SA, Gdansk, Poland Two MMC887CD 1000m Deck DP2 One MMC879CD 850m Deck DP2 Delivery…
  18. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 18
    Financial Information 19
  19. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 19
    2011 Q2 vs. Q1 (in thousands of dollars, excluding special items) Three Months Ended Mar 31, Sequential Jun 30, (in thousands) 2011 Change 2011 Revenues 81,289 15,622 16.1% 96,911 Direct operating expenses 44,318 54.5% (2,590)…
  20. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 20
    Quarter Ended June 30, 2011 (in thousands of dollars, excluding special items) Consolidating Income Statement for the Three Months Ended Jun 30, 2011 Southeast North Sea Asia Americas Total Revenues 43,836 15,678 37,396 96,911…
  21. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 21
    Investment Highlights Industry Leaders in HSE Performance & People Development Strong Demand for Modern Offshore Marine Equipment Global Presence and Operations Expertise Financial Stability & Flexibility to Pursue…
  22. PARETO SECURITIES OIL & OFFSHORE CONFERENCE – Gulfmark Offshore, Inc. – slide 22
    Reconciliation of Adjusted EBITDA TTM 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q2 2011 Net (loss) income 24.0 0.5 (4.6) 38.4 89.7 99.0 183.8 50.6 (34.7) 46.6 Interest expense, net 10.9 12.8 17.0 18.4 14.4 4.8 12.8 19.9 20.7…

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