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…
Strong Fourth Quarter 2014 Operational Results Contract Drilling Services Revenues: 456 million EBITDA: 214 million Net Income: 80 million Earnings per Share: 0.90 Jackup Marketed Utilization: 82% Average Jackup Dayrate: 120,252…
Paragons Strategy Deliver reliable, safe, cost-efficient operations Match our assets to customers in fit- for-purpose applications while maintaining industry-leading utilization Manage our costs to preserve flexibility in changing…
Prospector Transaction Essentially Closed Concluded a mandatory tender offer which resulted in Paragon having control of 99.6% of Prospector shares. Squeeze-out of remaining shares completed February 23, 2015 Will request that PROS be…
Contract Overview and Delivery Schedule of Propsector Offshores Rigs PROSPECTOR 1 has a firm charter duration of 730 days, plus one 1-year option and four 6-month options with Total The total revenue backlog for firm period is…
Paragons Contract Coverage February 2015 Fleet Status Jackup Floater Prospector 2015 2016 2017 Rig Name Region J F M 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 M1161 (NCY) Arabian Gulf L786…
2.2 Billion of Backlog Including Prospector as of 12/31/2014 Backlog by Customer in millions as of 12/31/2014 800 Other, 18% Nexen, 690 4% Petrobras 35% ADMA- OPCO, 600 5% ONGC, 10% Pemex, Total, 461 21% 7% 400 60%…
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 Association…
Market Considerations Returns for industry players have been negatively impacted in recent years by a variety of factors Jackup market capacity additions create potential challenges for drilling contractors Challenges and…
Key Issues Impacting Returns in Recent Years For Our Customers For the Drilling industry Financial crisis and resulting host Rising labor costs and competition government responses for crews Macondo incident and impact on Increasing…
Newbuild Jackup Orders According to IHS February 18, 2015 132 Anticipated Jackup Deliveries 160 141 9 132 13 18 120 101 60 80 None built in 31 40 China 10 0 Total Newbuilds Delivered 4Q14 Total Newbuilds Contracted Rigs…
Newbuild Floater Orders According to IHS February 18, 2015 87 Anticipated Floater Deliveries 120 57 Ships, 30 Semis 87 50 80 12 25 11 40 11 3 0 Total Newbuilds Contracted Rigs Rigs on Order- Rigs Under South Korea China…
PeopleA Key Ingredient for Success and an Advantage for Paragon With 132 jackups and 87 floaters under construction, the industry needs to add a significant number of people to crew these units At an average of 100 people per rig, we…
Where Are We Headed Short-term: More Challenges Than Opportunities Challenges Near-term low oil price environment 2015 E&P capital budgets reduced for most oil companies Customer focus on project cost Opportunities reduction…
Rystad Energys Global Liquids Cost Curve Offshore shelf developments are well- positioned on the global cost curve Paragon mainly serves NOCs and smaller Independents who generally have different strategic drivers as…
Conclusion www.paragonoffshore.com 19
Disciplined Capital Allocation The Focus for Paragon Offshore Secure contract renewals Focus on Make disciplined investments to maintain fleet, improve competitiveness, extend life Existing Fleet Explore sales of stacked rigs;…
Why 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 Opportunistic…
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
Appendix www.paragonoffshore.com 23
4Q14 Adjusted Net Income (Non-GAAP) to Net Income (GAAP) PARAGON OFFSHORE PLC RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share amounts) (Unaudited) The following tables sets forth the…
4Q14 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…
4Q14 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…
December 31, 2014 Summary Balance Sheet Assets (in thousands) Cash 69,274 Total Current Assets 713,294 PPE, Net 2,410,360 Other Assets 129,735 Total Assets 3,253,389 Liabilities and Equity Total Current Liabilities…
Loading...
