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UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc

Noble Corporation plc · May 23, 2011 · 25 slides

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Slides

  1. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 1
    Noble Corporation David W. Williams Chairman, President & Chief Executive Officer UBS Global Oil and Gas Conference Austin, Texas May 23-26, 2011
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 2
    Todays Agenda Noble Today Nobles Strategy Nobles Fleet vs. Competition Project Update Safety First 3
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 3
    Nobles Global Footprint Today 14 Semisubmersibles 13 Drillships 47 Jackups 2 Submersibles 1 Platform 1 FPSO 76 Total Rigs + FPSO + Platform Operation Source: Noble 44
  4. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 4
    Second Largest Industry Backlog As of March 31, 2011 Millions 30,000 Estimated by ODS and includes estimates of 24,419 backlog by ODS where dayrates have not been 25,000 made public. Jackups 20,000 Floaters Other 15,000…
  5. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 5
    Todays Strategic Backdrop Global economic recovery slower than anticipated, yet oil demand remains high Opportunities to upgrade/acquire older units generally unavailable Opportunities to acquire rigs from speculators generally…
  6. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 6
    Ongoing Fleet Strategy Add rigs with the latest technology, equipment, and capabilities Maintain core Modify core rigs rigs as long as to their technical competitive Core Fleet limit Continually evaluate potentially…
  7. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 7
    Building a Noble Future Deliveries of Two HHI ultra- three deepwater drillships: drillships Noble Bully I delivered & II, Noble Globetrotter Two JU3000N jackups delivered 2011 2012 2013 2014 Beyond First Final HHI ultra-…
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 8
    Nobles Floating Fleet Growth Floating Rig Count HHI I HHI II HHI III 30 Noble Globetrotter II DP Noble Bully I 27 Moored Noble Bully II Noble Globetrotter I 26 25 23 23 Frontier Acquisition Noble Danny Adkins Noble Dave…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 9
    Jackup Fleet Distribution by Age Total Jackup Units Including To be Delivered*:…
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 10
    Asset Segmentation Today Total Jackup Fleet: 543 Units* L780 Mod II BMC 375 JU 2000E Levingston 111 Mod VB JU 3000N Mat/Slot: 83 units Legacy: 280 units New: 124 units High Spec: 56 units 1970s vintage 1980s vintage 2005 + Vintage…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 11
    Nobles Latest Jackups Ultra-premium Capabilities 4 Newbuild JU3000N HDHE jackups 2 remaining options expire 1/1/12 Yard deliveries 4Q12, 2Q13, 4Q13, 2Q14 Two rigs at 220 mm all-in cost; two at 235 mm all-in Turn-key construction…
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 12
    Nobles Financial Flexibility Long-term target of mid- Debt to Capital ratio: 29.2% upper 20%s Consensus Debt to EBITDA 2011: 2.3 Long-term target of 1.5 2012: 1.6 Could take leverage higher for strategic purposes Current…
  13. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 13
    Noble vs. Ensco/Pride Fleet Comparison Floaters Jackups Ensco / Ensco / Noble Pride Noble Pride 7500 13 13 350' 11 13 5000' - 7499' 8 8 300' - 350' 20…
  14. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 14
    Nobles Ultra-deepwater Fleet vs. Ensco HHI Globetrotter Bully NJD Ensco 8500s (3) (2) (2) (2) (7) Water Depth (ft) 12,000 10,000 8,200 12,000 8,500 Vessel Length 750 620 615 NA NA (ft) Displacement 70,000 54,000 50,600 64,300…
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 15
    Nobles Ultra-deepwater Fleet vs. Ensco HHI Globetrotter Bully NJD Ensco 8500s (3) (2) (2) (2) (7) Derrick (kips) 2,500/1,500 2,400/2,400 2,000/1,000 2,500 2,000 Liquid Mud (bbls) 20,800 15,000 13,000 13,940 15,900 Bulk Storage…
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 16
    Noble vs. Ensco/Pride Fleet Comparison If you like Ensco/Pride you have to love Noble Source: Noble 17 17 Source: Noble
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 17
    Regional Updates Alaska Shell has filed for 2012 drilling permits Noble has opened an Anchorage office to support Noble Discoverer and Shell- owned/Noble-operated Kulluk US Gulf of Mexico Noble Danny Adkins resumed working…
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 18
    Regional Updates Mexico 13 jackup tenders currently outstanding Recent comments by Pemex suggest jackup count could exceed 40 Dayrates offered in tenders opened for newbuild jackups continue to exceed expectations Brazil…
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 19
    Regional Updates Middle East/ Southeast Asia Noble Gene House & Noble North Sea/West Africa Joe Beall contracted with Saudi Aramco for three North Sea market tightening years at dayrates of Noble Al White extended 10 81,000…
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 20
    Bully I & II Construction Progress Update Bully I due to leave shipyard late July Overall completion: 98% Commissioning: 80% Bully II due to leave shipyard late September Overall completion: 88% Commissioning: 35% Sponson…
  21. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 21
    Noble Globetrotter on Sea Trials 22 22 Source: Noble
  22. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 22
    Nobles Industry Leading Safety Efforts More than just industry leading safety statistics The only drilling contractor to: Win the ExxonMobil sponsored Robert W. Campbell Award for HSE excellence Win the U.S. Minerals Management…
  23. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 23
    Offshore Energy Safety Advisory Committee Provide recommendations to DOI on matters and actions relating to offshore energy safety Initial focus on prevention, containment and spill response Membership 4 industry reps (Shell,…
  24. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 24
    What to Look for in Coming Year Investment decisions on remaining newbuild options Progress on potential divestitures Three drillship deliveries Increasing strength in jackup business Long-term tenders in Mexico US Gulf…
  25. UBS GLOBAL OIL AND GAS CONFERENCE – Noble Corporation plc – slide 25
    Noble Corporation Dorfstrasse 19a 6340 Baar Switzerland www.noblecorp.com Investor contact: Lee M. Ahlstrom Vice President IR & Planning 281-276-6440

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