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UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc.

Diamond Offshore Drilling, Inc. · May 24, 2012 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 1
    UBS Global Oil and Gas Conference Larry Dickerson President and Chief Executive Officer May 24, 2012
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 2
    Agenda Fleet Transformation Fleet Profile Market Outlook Shareholder Focus Diamond Offshore Drilling, Inc. 2
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 3
    Click to edit Master title style Fleet Transformation Diamond Offshore
  4. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 4
    Fleet Transformation Today May-09 Change Ultra-Deepwater 12 6 6 Deepwater 7 5 2 Midwater 18 20 -2 Jackups 8 15 -7 Total Rigs 45 46 -1 Ultra-Deepwater (7,500'); Deepwater (5,000'-7,499'); Midwater…
  5. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 5
    Jackup Divestitures Proceeds Rig Name Rig Age Date Sold Description (millions) Drake 30 May-12 200' MC 4 Champion 38 May-12 250' MS 4 Crusader 31 May-12 200' MC 2 Heritage 32 Apr-12 300' IC 45 Columbia 35 Feb-12 250' IC 40…
  6. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 6
    BlackHawk, BlackHornet, BlackRhino Diamond Offshore Drilling, Inc. 6
  7. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 7
    Diamond Offshore Announces Fourth Ultra-Deepwater Drillship Order HOUSTON, May 9, 2012 -- Diamond Offshore Drilling, Inc. (NYSE:DO) today announced that a subsidiary, Diamond Offshore Drilling Limited, has entered into a turnkey…
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 8
    Drillship Status BlackHawk BlackHornet BlackRhino BlackLion Cost (millions) 635 635 645 655 Shipyard Delivery Q2 2013 Q4 2013 Q2 2014 Q4 2014 Contract Status Anadarko (GoM) Anadarko (GoM) 5 years 5 years available available…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 9
    Investing in the Fleet Year Cost Rig Name Ordered / Purchased Description (millions) BlackLion 2012 UDW Drillship 655 Onyx 2012 6,000' Semi 300 BlackRhino 2011 UDW Drillship 645 BlackHornet 2011 UDW Drillship 635 BlackHawk 2010…
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 10
    Potential Earnings Power Added (per day in thousands) Contracted or Assumed Assumed (in millions) * Dayrate Opex Annual EBITDA BlackLion 575 200 126 BlackRhino 575 200 126 BlackHornet 495 175 108 BlackHawk 495 175 108 Onyx…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 11
    Ocean Onyx 6,000 ft. Water Depth Capability To be Built at Keppel AmFELS in Texas Total Cost: 300MM Scheduled Delivery: Q3 2013 Market Opportunities: US GOM West Africa Brazil Diamond Offshore Drilling, Inc. 11
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 12
    Return on Investment Ocean Onyx Drillship Time to Construct (months) 18 36 Delivered Cost 300 million 655 million Assumed Dayrate 450,000 550,000 Assumed Cost per Day 110,000 200,000 EBITDA per Day 340,000 350,000 Diamond…
  13. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 13
    Click to edit Master title style Fleet Profile Diamond Offshore
  14. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 14
    Fleet Profile Ultra-Deepwater Units (7,500) Confidence Baroness Rover Endeavor Monarch Courage Valor 12 Clipper BlackHawk BlackHornet BlackRhino BlackLion Deepwater Units (5,000 to 7,499) 7 America Alliance Valiant Star…
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 15
    Age of Ultra-Deepwater Fleets Published UDW Fleet Age Actual UDW Fleet Age per peer investor presentation 20 20 20 15 15 10 10 7 5 5 0 0 ESV SDRL RIG NE DO ESV SDRL RIG NE DO Excludes drillships under construction Age…
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 16
    Ocean Monarch 16
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 17
    Click to edit Master title style Market Outlook Diamond Offshore
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 18
    Strengthening Dayrates Example: Ocean Victory (5,500 moored semi) 600 560 500 500 420 400 365 (000/day) 325 300 250 200 200 150 100 0 Nov-07 Jul-08 Feb-09 Oct-09 Oct-10 Apr-11 Nov-11 Mar-12 Fixture Dates Diamond…
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 19
    Floater Availability thru 2013 2012 2013 Rig WD LOC Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 1 GENERAL 1,650' Malaysia 2 WHITTINGTON 1,500' USGOM 3 SARATOGA 2,200' Guyana/ USGOM 4 PATRIOT 3,000' Australia 5 AMBASSADOR…
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 20
    Click to edit Master title style Shareholder Focus Diamond Offshore
  21. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 21
    Return on Capital Employed (ROCE) 2011 20% 18.4% 15% 10% 5% 0% DO ATW SDRL ESV RDC NE RIG Source: Credit Suisse Diamond Offshore Drilling, Inc. 21
  22. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 22
    Return on Capital Employed (ROCE) 5-Yr Average (2007-2011) 35% 31.9% 30% 25% 20% 15% 10% 5% 0% DO ATW ESV NE RDC RIG SDRL Source: Credit Suisse Diamond Offshore Drilling, Inc. 22
  23. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 23
    Cumulative Dividends Since 2006 35 32.38 30 25 20 15 10 5 0 2006 2007 2008 2009 2010 2011 1Q 2012 Total regular and special dividends paid or declared since 1/1/2006 Diamond Offshore Drilling, Inc. 23
  24. UBS GLOBAL OIL AND GAS CONFERENCE – Diamond Offshore Drilling, Inc. – slide 24
    Click to edit Master title style Summary Fleet Renewal at Attractive Prices Strong Market Outlook, Re-Pricing Opportunities Focused on Shareholder Value Diamond Offshore

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