Contents Highlights 3Q 2009 3Q 2009 accounts Operational status Performance newbuilds Fleet contract status Market outlook Dividend policy Strategy Summary 3
Highlights third quarter 2009 Record EBITDA of US497 million up from US438 million in the preceding quarter Net income of US345 million or income per share of US0.82 Idle benign environment 300ft jack-up West Ceres sold for a…
EBITDA development US MILLION Significant Q/Q increase in contribution 5
Mobile units 6
Tender rigs 7
Condensed income statement 8
Balance sheet Total assets 9
Balance sheet Liability and equity 10
Taking advantages of more favorable debt markets July 2009: Raised new US1,500m secured facility with export credit agencies and commercial banks September 2009: Issued US500m convertible bond with 4.875% coupon and 35% conversion…
Worldwide operations 1 drillship newbuild at Samsung, Korea Norway - 5 units - 3 Semis 2 semi new- - 1 Jack-up builds at Jurong, - 1 Drillship Singapore Gulf of Mexico 2+1 jack-up & 3 tender rig - 1 Semi newbuilds in…
Average utilization rate deepwater newbuilds Start-up experience transferred to sister rigs 13
Semi-submersible rig West Alpha 25-year survey with significant upgrades New cranes installed Upgrade power management and electrical systems Thrusters changed New top-drive New catwalk machine Accommodation section upgrade…
Jack-up rig West Atlas Located north west of Australia in the Timor Sea working for PTTEP Australasia On August 21, a well on the Montara wellhead platform started to leak gas and crude in an uncontrolled manner All personnel was…
US9 billion order backlog floaters Continued strong earnings visibility 16
Deepwater market outlook Long-term market drivers intact as global oil basins mature and decline rates steepening Exploration for larger reserves taking place in more challenging and rig intensive deepwater markets Floater…
Contract status jack-ups US365 million order backlog 18
US1.7 billion tender rig order backlog Strong portfolio of term contracts 19
9 remaining newbuilds will deliver growth Deepwater floaters - Drillship West Gemini 2Q2010 - Semi West Orion 2Q2010 - Semi West Capricorn 4Q2011 Tender rigs - Tender barge T12 1Q2010 - Semi-tender West Vencedor 1Q2010 -…
EBITDA growth replacing investments Majority of EBITDA secured through long-term contracts 21 * Consensus estimates SME Direkt
Dividend distribution and policy Distribution of cash dividend is an important objective Resolved to distribute US0.50 per share Ex. dividend date is November 23, 2009 Record date is November 25, 2009 Payable date on or about…
Petromena NOK 2,000 million bond Seadrill holds 81 percent of the Petromena NOK2,000 million bond following investment of US183 million in March Secured in the deepwater newbuilds Petrorig 1 and Petrorig 2 that both have been sold…
Strategy Focus Seadrill on premium deepwater operations Entertain further consolidation through M&A activities Develop current shareholdings in Pride, Scorpion and Sapura Seek alliances for our jack-up exposure Leverage the…
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