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CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC

Seadrill Partners LLC · Aug 4, 2014 · 14 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. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 1
    Citi MLP/Midstream Infrastructure Conference Las Vegas August 2014
  2. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 2
    Company Snapshot 9 Number 6 UDW floaters Hemen Holding of assets (Fredriksen Group) 3 tender rigs Average 22.9% Contract 3.7 years Duration Seadrill Limited (NYSE: SDRL) Contract Order 67.3 MM Common Units Public Unit…
  3. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 3
    Significant Progress Since IPO More Growth to Come 40% increase 7% increase for West Major Events to Date since IPO Auriga aquisition Tender rig T-15 acquired for US210 million 2.25 Tender rig T-16 acquired for US200 million 2.17…
  4. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 4
    Acquisition of 28% Interest in Seadrill Operating LP Seadrill Operating LP West Aquarius West Leo (1) USD millions Total SDLP Share Purchase Price 2,872 804 Financed by: West Capella (56%) West Vencedor (2) Seadrill…
  5. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 5
    Add-on Term Loan B Refinancing Seadrill Limited Term Loan B Refinances existing (NYSE: SDRL) debt facilities at Seadrill Partners Public Unit Holders 51.1% 48.9% Issued an additional 1.1bn as an add-on to the existing 1.8bn Term…
  6. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 6
    Assets & Contracts 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 Vencedor US213,931 West Aquarius US540,000 US615,000 West Capella US627,500 West Capricorn US495,650…
  7. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 7
    Operational highlights Seadrill Partners economic utilization 100.0% 98.4% 100.0% 99.6% 97.4% 100.0% 100.0% 100.0% 94.8% 95.0% 94.8% 94.1% 95.2% 90.4% 91.0% 88.2% 80.0% 75.5% 60.0% 40.0% 20.0% 0.0%…
  8. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 8
    Robust industry fundamentals World oil demand and oil price(1) by scenario Tight supplydemand balance going forward 2012 2020 2035 110 New policy 100 Oil demand: 100 27 mbbl/d 450 Current policies 80 needed scenario scenario…
  9. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 9
    Recent Discoveries to Become Produced Volumes Discovered resources 1980 to 2013 140 120 100 (billions boe) 80 60 40 20 0 1980 1985 1990 1995 2000 2005 2013 Shelf Deep Water Ultra deepwater Resources discovered and…
  10. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 10
    Preferential demand for newer rigs Industry trends Contract Backlog UDW & DW Challenges of remote drilling sites 14,000 12,000 Drilling deeper wells with longer offsets Backlog months 10,000 8,000 Greater drilling…
  11. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 11
    Global rig supply and demand imbalance favors contractors Significant newbuilds required to bridge expected demand gap 500 400 157 73 (50) 300 455 200 348 275 100 0 (1) (2) Current Floater Fleet Newbuilds 2014-2016…
  12. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 12
    Growth - Additional UDW rigs from Seadrill 2014 2015 2016 2017 Unit Customer 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Vela BP US565,000 11.2020 West Auriga BP US565,000 10.2020 West Mira Husky Newbuild Transit US590,000…
  13. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 13
    Growth - Other Acquisition of Additional OPCO Ownership Interests from Seadrill Ltd. - 42% of three UDW rigs and one tender rig - 49% of three UDW rigs Long-Term Contracted Jack-ups - E.g. 5 Jack-ups with long-term contracts…
  14. CITI MLP MIDSTREAM INFRASTRUCTURE CONFERENCE – Seadrill Partners LLC – slide 14
    Summary & Outlook Significant progress made since IPO More than doubled fleet size with the acquisition of five rigs Diversified fleet Making acquisition of OPCO units an option Strong track record - Distribution growth of 40% since…

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