Global Hunter Securities 2015 GHS 100 Energy Conference June 23-24, 2015 Chicago, IL www.paragonoffshore.com
Overview of Paragon Offshore Business Overview Worldwide Offshore Presence North Sea Offshore contract drilling services provider Semis: 1 Jackups: 9 Canada Hibernia Spin-off from Noble Corporation completed Platform…
Paragon Offshore Key Highlights Significant Global operator with well-established history Scale, Size, and Exposure to most major hydrocarbon basins excluding U.S. Gulf of Mexico Expertise Primary provider of jackups in North Sea,…
Prospector Financing Update Sale-Leaseback Terms Sale-Leaseback agreements between wholly owned subsidiaries of Paragon and SinoEnergy, a private investment firm in British Virgin Islands Financing is non-recourse to Paragon Leases in…
Prospector Financing Update Sale-Leaseback Terms and Covenants (contd) Repurchase obligation and call provisions 88MM per rig at the end of the lease, less any amounts repaid through excess cash flow sweep No Call for first three…
Another Good Quarter Operationally First Quarter 2015 Results Contract Drilling Services Revenues: 399 million EBITDA: 167 million Net Income: 42 million Earnings per Share: 0.47 FCF from Operations: 210 million Market capitalization…
1.7 Billion of Backlog as of 04/30/15* Backlog by Customer in millions as of 04/30/15 Gaz de Nexen, Other, France, 11% 3% 3% 500 Wintersh all, 4% Petrobras 442 37% Pemex, 400 4% 400 ADMA- OPCO, 5% ONGC, Total, 11% 22%…
Continued Industry-Leading Safety and Quality Performance Commitment to Safety and Quality Strong Safety Record Customers recognize our commitment to safety and performance 1.00 2014 Paragon TRIR1 25% lower than 0.81 International…
The Current EnvironmentRough Waters Ahead 2015 remains challenging Oil price has improved from YTD lows, but: 2015 customer budgets are largely fixed Some analysts predict a second oil price dip Some customers are continuing to…
Jackup Units Being Stacked Rather Than Retired/Scrapped Number of 140 Very few actual Rigs retirements so far; cold- 120 stacking has not dramatically increased 100 80 60 40 20 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct…
Newbuild Jackup Orders According to IHS June 18, 2015 129 Anticipated Jackup Deliveries 160 129 10 9 110 120 66 80 None built 31 40 in China 13 0 Total Newbuilds to be Contracted Rigs Rigs on Order/ Rigs Under China…
Offshore, 39 Floaters Retired, Scrapped or Held for Sale Since January 2014More to Come Number of Average Rigs Age of Rigs 20 40 32 of 39 announced over last 2 quarters 16 36 12 32 19 8 28 4 24 6 6 3 2 2 0 20 RIG DO…
Our FocusManaging What We Can Control Maintaining and improving Safety Performance Continuing our industry-leading Operational Uptime Maximizing Utilization of our Rigs; Stacking Idle Rigs Quickly Preserving Financial…
ConclusionWhy Paragon Offshore Significant Scale, Size, and Expertise High Quality, Low Cost Drilling Contractor Strong Backlog and Established Diverse Customer Base Well-Maintained Workhorse Fleet of Rigs…
NYSE Listed: PGN 3151 Briarpark Drive Houston, TX 77042 832.783.4000 For additional information, contact: Lee M. Ahlstrom SVP-Investor Relations, Strategy & Planning lahlstromparagonoffshore.com www.paragonoffshore.com
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1Q15 Adjusted Net Income (Non-GAAP) to Net Income (GAAP) (In thousands, except per share amounts) (Unaudited) The following tables sets forth the reconciliation of adjusted net income (non-GAAP) to net income: Three Months Ended…
1Q15 As Reported and As Adjusted Operational Information PARAGON OFFSHORE plc OPERATIONAL INFORMATION (In thousands, except operating statistics) (Unaudited) As Reported Rigs Retained or Sold by Noble As Adjusted Three Months…
1Q15 As Adjusted Measures (Non-GAAP) to As Reported Measures (GAAP) (In thousands, except operating statistics) (Unaudited) As Reported Rigs Retained or Sold by Noble As Adjusted Three Months Ended Three Months Ended Three Months…
March 31, 2015 Summary Balance Sheet Assets (in thousands) Cash 85,773 Total Current Assets 519,038 PPE, Net 2,359,673 Other Assets 127,597 Total Assets 3,006,308 Liabilities and Equity Total Current Liabilities 340,031…
Paragons Standard Specification Activity at a Glance Split by Rig Activity Rigs surveyed in January 100% 6 3 2015; results reflect most 13 14 20 27 80% 31 50 41 recent 10 well activities 30 60% 46 65 40% 68 Significant workover…
Paragons Contract Coverage June 2015 Fleet Status Jackup Floater Prospector 2015 2016 2017 Rig Name Region A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D L1112 (NEH) India L784 (NJP) Arabian Gulf M1161 (NCY) Arabian…
Number and Status of Jackup Rigs in Service In- Service Before 2000 Number of Units by Type Independent Cantilevers 315 Total Mat and Slot Rigs 300 30 254 10 250 Concentrated 16 ownership (HERO 21 200 owns 20 of 30 mat…
Newbuild Floater Orders According to IHS June 18, 2015 82 Anticipated Floater Deliveries 120 52 Ships, 30 Semis 14 rigs potentially 82 41 cancelled in 80 Brazil 11 40 30 13 12 5 0 Total Newbuilds Contracted Rigs Rigs on…
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