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Q4 2010 EARNINGS CALL – Seadrill Limited

Seadrill Limited · Feb 24, 2011 · 23 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. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 1
    Conference call - 4Q 2010 results February 24, 2011
  2. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 2
    Contents Highlights 4Q 2010 4Q 2010 accounts Investments Market view Fleet status Dividend policy Summary 2
  3. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 3
    Highlights - Fourth quarter 2010 EBITDA of US618m compared to US560m in the preceding quarter Net income of US268m down from US358m and earnings per share US0.61 as compared to US0.85 in the third quarter Regular quarterly cash…
  4. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 4
    Subsequent events Acquired the two Seadragon owned ultra-deepwater semis under construction in Singapore for US1.2 billion and simultaneously secured nearly 100% debt financing Established a new harsh environment focused drilling…
  5. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 5
    Financial performance highlights Revenue growth continued, 4Q10 at US1,169m (US1,086m in 3Q10) EBITDA - US618m (US560m in 3Q10) Earnings per share - US0.61 (US0.85 in 3Q10) Operating profit - US479m (US431m in 3Q10)…
  6. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 6
    EBITDA contribution growth continued 6
  7. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 7
    Operating Income - Total Seadrill 7
  8. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 8
    Net Income - Total Seadrill 8
  9. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 9
    Operating Income - Mobile units 9
  10. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 10
    Operating Income - Tender rigs 10
  11. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 11
    Operating Income - Well services 11
  12. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 12
    Seadrill Balance Sheet - Assets 12
  13. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 13
    Seadrill Balance Sheet - Liabilities and Shareholders Equity 13
  14. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 14
    Worldwide operations Europe - 5 units Newbuilds - 11 units - 3 Semis - 1 Jack-up - 1 Drillship -3 Semis -2 Drillships GoM - 1 unit - 1 HE jack-up - 1 Semi - 4 BE jack-ups - 1 Semi-tender South America - 7 units - 3 Semis…
  15. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 15
    US1.2 bn acquisition of two ultra- deepwater semis Two units under construction West Pegasus/West Leo at Jurong, Singapore Water depth 10,000ft Riser 7,000ft/8,000ft Delivery scheduled for end- Top-drive / Hook load 1,000 st…
  16. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 16
    Market development Favorable oil price environment Brent Spot Price Improving world economy outlook 160 140 Uncertainty created by political events 120 US per barrel in North Africa and Middle East 100 80 60 Strong…
  17. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 17
    US7.9 billion contract backlog - Floaters Flexibility in staggered contract portfolio 17
  18. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 18
    US1.9 billion contract backlog - Jack-ups Strong interest in high spec rigs 18
  19. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 19
    US1.5 billion contract backlog - Tender rigs New long-term contracts adds visibility 19
  20. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 20
    Seadrill establishes a new drilling company, North Atlantic Drilling Limited (NADL) NADL will be 100% focused on harsh environment operations in the North Atlantic Basin Agreement with SDRL to acquire: Six harsh environment…
  21. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 21
    Dividend distribution and policy Regular dividend resolved at US0.675 per share + US0.2 per share in extra ordinary dividend Increase reflects increased free cash flow and improved earnings visibility Future dividend depends…
  22. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 22
    Seadrill is uniquely positioned Global fleet of brand new rigs First mover on newbuild orders NADL subsidiary tailor-made for harsh environment developments Strong contract backlog and earnings visibility Unique bank support…
  23. Q4 2010 EARNINGS CALL – Seadrill Limited – slide 23
    Asset portfolio Core fleet 45 units built after 2000 11 built before 2000 16 Ultra-Deepwater Units + 1 Deepwater Unit 1 Mid-water semi 19 High Specification Jack-ups 2 Jack-ups 9 Tender Rigs 8 Tender Rigs Shareholdings…

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