GHS 100 Well-Positioned Energy Conference June 23, 2015 Mark W. Smith Sr. Vice President & CFO 1
Well-Positioned to Emerge from the Downturn Modern, high quality rig fleet 6 UDW floaters and 3 high-specification jackups delivered 2011-2016 Bifurcation favors young fleet; only 2 rigs greater than 12 years old Industry-leading…
Geographically Diverse and High-Spec, Mixed Fleet ATWOOD BEACON ATWOOD ADMIRAL Under Houston, Texas ATWOOD ACHIEVER ATWOOD ARCHER Construction ATWOOD CONDOR ATWOOD MAKO ATWOOD ADVANTAGE ATWOOD MANTA ATWOOD ORCA ATWOOD AURORA…
Financial Flexibility: Weathering the Storm No additional financing required through 2019; only opportunistic financing will be considered Extended our Revolving Credit Facility maturity date an additional year (to 2019) to reduce…
Liquidity Beyond Remaining Capital Expenditures Millions 1,200 Contracted Revenue 1,000 1,074 Revenue backlog of Contracted 1.9 billion as of June EBITDA 1, 2015 800 CAPEX 846 million in remaining total capital 600 648 645*…
Potential for Improving Supply/Demand Balance Similar to the great crew change, recognize the likelihood for the great rig change out Impairments totaling almost 9 billion since July 2014 Rig retirements are accelerating 62…
Why 70 Brent and Improved Project Discipline Could Stimulate Demand Recovery Floater rig dayrates approximately 50% lower than peak Service costs also in decline 15 25% reductions in costs depending of the type of service being…
Many Drillers Will Look Different After the Cycle 400 A Supply Driven Rebalance of the Floater Market 78 units stacked/scrapped 350 20 79 300 70 250 8 Atwood has only 2 200 floaters 10 yrs old 363 150 284 265 100 225 2 new build…
Well-Positioned to Emerge from the Downturn Operational excellence and cost control lead to best- in-class margins Reducing costs without impacting safety or service Deliver high-quality drilling services economically Continuous…
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