EDC Overview Overview: EDC at a glance Investment Case EDCs Position Investment case Strategic Focus Summary Q&A Performance and positioning Strategic Focus Summary Q&A 3
EDC By End-2010 Overview Investment Case No.1 471 24% 4,102 EDCs Position Strategic Focus Summary Largest independent Rig fleet including Market share Thousand meters drilled Q&A drilling company in Russia 211 onshore…
EDC at a glance EDC Head Office Overview Regional/Branch Office Investment Case Support Base EDCs Rig Fabrication Position Operational Areas Strategic Focus TIMAN-PECHORA Summary Q&A EASTERN Usinsk SIBERIA Kogalym WESTERN…
Russias Onshore Market by Meters Drilled (mln) EDC Total meters drilled onshore Overview Investment 2012F Russia in 2010 were 18% above Case 2011F EDCs 2009 levels Position 2010E Strategic As per REnergyCo, demand for 2009…
EDC Change in Breakeven Well Flow & No. of Profitable The Ministry of Energy is Overview Investment Wells after Adoption of New Tax Regime proposing a decrease in the Case EDCs 300 6,000 marginal export tax rate for Position…
EDC Russia Brownfield Oil Production, mln bpd Legacy output (Brownfield Overview Investment 9.30 9.22 production) in Russia has been Case 9.20 EDCs 9.10 deteriorating since 3Q-08; Position Strategic 9.00 The industry has lost 320…
EDC Customers demanding hi-spec rigs Fleets must be modern Overview Investment Fleets must be heavier Case Depths/complexity increasing EDCs Position Assets are becoming scarce Fleets must be more efficient Strategic Focus…
EDC Russia Onshore Meters Drilled (th. meters) Market Share Overview Investment Case 2010 17,233 2010 EDCs Position 2009 14,554 EDC 24% Strategic Focus 2008 15,454 All others Summary 26% 2007 14,627 Q&A 2006 12,305 2005 10,117…
EDC CAGR of 19% in EDC Drilling Volume Performance (th. meters) Overview Investment drilling volumes 5,000 Case EDC during EDCs 4,800 EDCs Position E LUKoil-Bureniye D history as an Drilled Meters (thousands) 4,000 EDC…
EDC 2010 EDC Drilling Volumes Contract Developments Overview Investment Case 2% 2% Other In 2007 (EDCs IPO year) our major client EDCs 10% accounted for 77% of total meters drilled Position Strategic Focus Continuous efforts to…
EDC EDC Capital Expenditures EDCs Rig Fleet Overview Investment Case 350 327 320 EDCs Actual Position 300 2010E about 270m 100-125 T 160-175 T 200-225 T 250-270 T 320-400 T 450 T Strategic 0 Focus 250 Summary 1,000 US…
EDC Acquisition of drilling assets from SLB will Overview Continue to invest in expanding our fleet, Investment Increase market add 3-4% to market share (full year basis) share implementing state-of-the-art technology and Case…
EDC Transaction with Schlumberger announced late 2010: Overview Investment EDC transfers NTS assets (cementing, DD/telemetry and drilling fluids) Case EDCs and crews (24 cementing, 57 DD/telemetry & 50 drilling fluids) to SLB…
EDC EDC signed LOI in Feb-11 to purchase 100% Overview Investment of the development and exploration drilling Case EDCs Position assets of Slavneft Strategic Focus Drilling output c. 815k meters (2010), approx. Summary 4%…
EDC STATOIL Exploration Demand for jack-ups growing in all Overview Investment NCOC (Exxon) Caspian sectors served by EDC: Case Exploration EDCs In the Russian sector, Lukoil has made Position CMOC (Shell) a number of…
EDC Specifications Overview Investment Case Rig Type: Independent three leg cantilever EDCs Design: Keppel Fels KFELS CS MOD V Position Strategic Mfr.: Caspian Shipyard Co at the Caspian Shipyard, Azerbaijan Focus shipyard - 2000…
EDC Specifications Overview Investment Case Rig Type: Independent three leg cantilever EDCs Design: LeTourneau Super 116E Position Strategic Mfr.: Lamprell shipyard in Sharjah Focus Summary Certification: ABS + A1 Q&A Nominal…
Update for 2010 EDC Overview 2010 another record year for EDC with 4,102 th. meters drilled onshore; +9.3% y-o-y Investment Case Total revenue for 2010 expected at approx. US 1.79 billion, EBITDA margin of 24.1% EDCs Position 2010…
EDC Forward calendar Overview Investment Case 10th Annual Oil & Gas 1-1 Investor Forum April 4 to 6, 2011 (London) (Bank of America EDCs Position (Bank of America Merrill Lynch) Merrill Lynch) Strategic Focus FY 2010 Results…
EDC Overview Investment Case EDCs Position Strategic Focus Summary Q&A 22
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R --550-- Nabors Industries LTD IM --7.9- Nabors Industries LTD R G I --353-- Precision Drilling Corp A --6.7-- Helmrich & Payne, Inc G --350-- Patterson UTI Energy, Inc FR --5.4- Rowan Companies Inc LK --313-- Ensign Energy…
2007 2008 2009 1H 2009 1H 2010 Audited Audited Audited Unaudited Unaudited Av. Exchange Rate RUB/US 25.6 24.9 31.7 33.1 30.1 Total Revenue 1,492,189 2,101,779 1,382,203 673,188 862,013 Costs and Other Deductions Operating Expenses…
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