Willbros Group (NYSE : WG) 2011 Credit Suisse Engineering & Construction Conference June 2, 2011
Forward Looking Statements This presentation contains forward looking statements. All statements, other than statements of historical facts which address activities, events or developments the Company expects or anticipates will or…
Willbros: Over 100 years of Current work regions Past work regions Willbros offices Founded in 1908: IPO in 1996 Exchange / Ticker: NYSE : WG Share Price(1): 8.82/share Market Capitalization: 444 million Notes: (1) Share price…
Willbros Values: Guiding our Business Practices 4 Credit Suisse June 2011
Willbros Overview Who We Are Global contractor specializing in energy infrastructure serving the oil, gas and power industries. Offerings include engineering, procurement and construction (individually or as an integrated EPC service…
Willbros Vision To be a multi-billion dollar engineering and construction company with a diversified revenue stream, exposure to high growth opportunities and ability to achieve more stable and predictable results 6 Credit…
2011 Objectives Returning Willbros to profitability and strengthening the balance sheet Objective Status Reduce debt by approximately Paid down 28.75 million in debt 50 - 100 million Sold 8.1 million in under-utilized equipment…
Focus on North America Willbros has the resources and expertise to grow revenue from: Utility Transmission & Distribution Build-Out Oil and Gas Shale Play Development Canadian Oil Sands Production 8 Credit Suisse June…
Recognizing Growth Markets U.S. Pipeline Construction Forecast(1) vs. Transmission Infrastructure Market(2) Willbros Revenue ( in millions) ( in millions) Actual Planned We see similar opportunities for electric utility…
Utility T&D Positioned for Growing Market Near-term investment in Utility T&D is growing Over 54 billion in planned U.S. transmission investment from 2009 - 2013 Build-out investment to continue growing Over 880 billion in new T&D…
New Technologies = Domestic Production Growth Active Rig Additions Since Low May 2009 +137 +1 Williston +3 +4 +16 +2 +4 -7 +78 +29 +15 +33 +2 Marcellus +7 -1 +145 +28 +14 +19 Anadarko -3 -6 -2 +40 +4 +322 +19 +7…
Operating & Expanding in the U.S. Shale Plays Broaden our offerings to provide strategic customers the services they want in the places they want them Increasing unconventional production is driving demand for Bakken Shale smaller…
Canadian Opportunities Improving Production from the oil sands set to increase significantly over the next decade Production expected to increase from 1.5 MMBD to 2.0 MMBD by 2015 Capital spending is forecast to peak at 22 billion in…
Financial Overview
Willbros Financial Snapshot Revenue Guidance (million) Revenue Q1 2011 (1) 412 million (1) InfrastruX revenue Jan Jun 2010 15 Credit Suisse June 2011
Backlog Total Backlog by Segment (1) Major Projects 2.3 billion 12 Month Backlog by Segment (1) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2011 2012 1.1 billion (1)March 31, 2011 16 Credit Suisse June 2011
Liquidity and Free Cash Flow(1) Cash and cash equivalents of approximately 79 million 175 million credit facility 25 million cash revolver limited until leverage ratio reaches 3.0 to 1.0 or less 25 million letters of credit drawn 59…
Key Investment Highlights
WG is Undervalued Relative to Peers * * Source: Thomson One Pricing as of May 18, 2011 *Data not available 19 Credit Suisse June 2011
Key Investment Considerations Worldwide brand recognition and reputation for quality, safety and schedule / price certainty Exposure to burgeoning markets in electric transmission infrastructure, unconventional shale production and…
Appendix and Exhibits
Utility Transmission & Distribution Segment Overview Utility T&D Expanded into Utility T&D in mid-2010 via InfrastruX acquisition Service offerings include: Construction of overhead and underground transmission and distribution…
Upstream Overview Engineering, construction and EPC Upstream services provided from the wellhead to the burner tip Large diameter transmission pipelines Lateral and distribution pipelines Gas / oilfield gathering & well-tie…
Downstream Segment Overview Downstream Specialty service provider to refiners and petrochemical customers: Engineering Construction Turnarounds Maintenance Field Services Safety Services Integrated EPC offering targets small to…
Effective and Comprehensive Risk Management Processes and Procedures Willbros utilizes a rigorous risk management process in assessing potential opportunities Standing bi-weekly review Corporate Review Comprehensive Bid Review Review…
Experienced Management and Operations Team with Proven Track Record Senior executive team averages over 20 years of relevant industry experience Many have led projects both domestically and overseas Field leadership team brings…
Worldwide Brand Recognition Reputation for Successful Project Execution Willbros has developed an international brand and reputation as a preferred contractor in meeting customer expectations for quality and schedule, even under demanding…
Strong Long-Term Customer Base Willbros has long-standing customer relationships with leading companies including integrated majors, large independents, utilities and energy companies, natural gas transportation companies and Canadian oil…
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