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GHS 100 ENERGY CONFERENCE – Noble Corporation plc

Noble Corporation plc · Jun 26, 2013 · 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. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 1
    Noble Corporation Jeffrey L. Chastain VP Investor Relations and Corporate Communications GHS 100 Energy Conference Chicago, Illinois June 26, 2013
  2. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 2
    Todays Agenda Company Overview Review of Excellent Business Fundamentals Noble Catalysts Supporting Value Creation 3
  3. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 3
    Company Overview Among the worlds premier offshore drilling contractors Significant fleet transformation nearing completion Large contract backlog providing excellent visibility Strong earnings and cash flow growth…
  4. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 4
    Company Overview Growing Global Presence Global Fleet Composition(1) Industrys Second Largest MODU Fleet(2) 14 Semisubmersibles 100 83 78 74 80 54 60 44 14 Drillships including 5 under construction 40 20 0 50 Jackups…
  5. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 5
    Company Overview Geographically Diversified Revenues and Strong Customer Base March 31, 2013 Top Five Customers Total Revenues 1. Shell Europe / 971 Million 2. Petrobras Mediterranean 3. Pemex 4. Saudi Aramco Middle & Far East 5.…
  6. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 6
    Company Highlights Total Backlog as of May 31, 2013 (16.0 Billion) Estimated Annual Contribution 20 Substantial Contract Backlog 5 16.0 4.1 15 14.3 4 3.1 10 3 2.5 5 2.0 2 1.3 0 5/31/2013 12/31/2012 1 0.8 0.7 0.6 0.5…
  7. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 7
    Significant Achievements in 2012 and 2013 Support Transformation 2012 growth in floating fleet 3 UDW drillships 2 DW drillships Strong shipyard execution leading to 2013 deliveries 3 UDW drillships 3 JU3000N jackups Contract…
  8. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 8
    Deepwater Fundamentals Solid Support Remains Stable range of crude price Brent Avg. 106 past 12 months 102/bbl past 36 months Exploration success establishes new record Geographic expansion continues into frontier locations…
  9. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 9
    Higher Dayrates and Longer Contracts Evident UDW vs. DW 700,000 650,000 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 UDW Noble UDW DW Noble DW Source: IHS Petrodata, May…
  10. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 10
    Strong Jackup Sector Continues Improving utilization seen through 2012 and into 2013, with marketed utilization at 90%+ in most regions Available capacity remains in decline Dayrates for high-spec jackups experiencing higher rates…
  11. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 11
    Dayrates Continue to Trend Higher High Spec JU v. Standard JU Source: IHS Petrodata, May 2013. 12
  12. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 12
    Jackup Contract Length Expanding Standard JU v. High Spec JU: Average Contract Term in Years Noble Recent Contract Experience CJ-70-150 NE 4 yrs. Noble Gene House 3 yrs. Years Noble Joe Beall 3 yrs. Noble Charles…
  13. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 13
    Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
  14. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 14
    Transitioning for the Long-Term A Higher Mix of Premium Assets Uncontracted 2013 2014 Globetrotter II Noble Noble Noble Bob Douglas Sam Croft Tom Madden Noble Noble Noble Noble Noble Noble Mick OBrien Houston Colbert…
  15. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 15
    Positioning for the Long-Term Value Impact of Fleet Transformation Estimated Revenue Distribution 2011 Actuals 2015 Projection 23% 24% 33% 12% 40% 4% 6% 31% 6% 21% Ultradeepwater Other Floater Standard Jackup…
  16. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 16
    New CJ-70 Jackup Size Comparison Northern North Sea Central North Sea Standard North Sea CJ-70 JU-3000N CJ-46 17
  17. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 17
    Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
  18. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 18
    Strategic Imperative Subsea and Critical Recruitment, Component Retention Integrity and Advancement Training, Safety & Fleet Modernization, Competency Newbuild Delivery Assurance & Performance 19
  19. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 19
    Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
  20. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 20
    Possible Divestiture of Standard Capability Assets What could the divestiture look like Asset composition Divestiture alternatives (sale, spin) Preparing audited financials Analyzing internal restructuring steps Tax rulings tax…
  21. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 21
    Noble Catalysts Supporting Value Creation Newbuild deliveries driving company transformation to premium fleet mix Improved fleet execution result of new processes/procedures/controls Possible divestiture of standard capability…
  22. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 22
    Noble Corporation Catalysts Newbuild program winding down Expect 11 newbuild deliveries over 20132014 Total CAPEX to decline post 2013 ( Millions) 3,500 3,000 3,000 Newbuilds Sustaining Capital 2,500 Major Projects & Other…
  23. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 23
    Transforming Noble What Makes Noble Different: Higher Mix of Premium Assets Unique Technology Geographic Expansion Impressive Earnings And Cash Flow Growth Numerous Catalysts to Enhance Value 24
  24. GHS 100 ENERGY CONFERENCE – Noble Corporation plc – slide 24
    Noble Corporation Dorfstrasse 19a 6340 Baar Switzerland www.noblecorp.com Investor contacts: Jeffrey L. Chastain Vice President Investor Relations 281-276-6383 John S. Breed Director Investor Relations 281-276-6729 Enterprise Value…

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