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SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc

Noble Corporation plc · May 8, 2012 · 29 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. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 1
    Noble Corporation James A. MacLennan Senior Vice President & CFO Jeffrey L. Chastain Vice President Investor Relations Susquehanna 2012 Energy & Resources Conference New York, New York May 8, 2012
  2. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 2
    Todays Agenda Company Overview Strategic Discussion Transforming the Fleet Sector Updates 3
  3. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 3
    Company Overview
  4. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 4
    Company Highlights 14 Semisubmersibles 14 Drillships 49 Jackups 2 Submersibles 79 Total Rigs(1) + FPSO + Platform Operation Among the Large contract worlds largest Significant fleet Focus on backlog with Excellent offshore…
  5. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 5
    Among Largest Floating Fleets Noble Systematically Growing its DP Units Floating Rig Count 80 77 Moored DP 60 39 40 37 28 28 28 8 21 12 20 38 14 9 8 8 8 20 20 7 16 14 4 9 2 3 2 5 7 6 7 3 3 2 0 (1) Includes…
  6. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 6
    Geographically Diversified Revenues and Strong Customer Base Total Revenues Top Five Customers 798 Million 1.Shell 2.Petrobras 3.Pemex Middle East 4.Saudi Aramco North Sea 5.Exxon / India 23% 15% 47% 37% 22% 27% 16%…
  7. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 7
    Total Backlog As of March 31, 2012 ( Billions) Estimated Annual Contribution Noble Substantial Contract Backlog 20 As of March 31, 2012 4 14.5 15 13.7 3.1 3 2.8 10 2.6 5 2 1.7 0 3/31/2012 12/31/2011 1.0 1 0.7 0.7…
  8. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 8
    Recent Fleet Developments Evidence of Improving Market Gulf of Mexico Noble Jim Day semisubmersible received the following: 45-day commitment at a dayrate of 565,000 45-day commitment at a dayrate of 605,000 Three-year commitment…
  9. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 9
    Total Debt and Newbuild Capex Total Debt and Debt / Total Capital by Year Newbuild Capex by Year 50% ( Billions) 4.4 4.1 40% Target Range 35% 33% 2.8 27% 20% 15% 15% 1.7 10% 22 million 0.9 0.8 0.8 0.8 0.7 0.7 0.7…
  10. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 10
    Strategic Discussion Transforming the Fleet
  11. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 11
    Fleet Strategy ADD: Technologically 8 Newbuilds Advanced Units 6 Newbuilds 2 Acquired 3 In Service Since 2007 CORE FLEET Premium, MAINTAIN Modern & ENHANCE Versatile Rigs (Floaters & Jackups) SUBTRACT: Non-core assets…
  12. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 12
    Newbuild Shipyard Deliveries 2012 2013 2014 Globetrotter Noble Noble Noble HHI Drillship 2 Don Taylor Bob Douglas Sam Croft Drillship 4 Noble Noble Noble Noble Noble JU3000N Regina Allen Mick OBrien Houston Colbert Sam…
  13. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 13
    Nobles Floating Fleet Noble Systematically Growing its DP Units Floating Rig Count Noble Don Taylor Noble Sam Croft Noble Bob Douglas HHI IV 30 DP Noble Bully I (1) Noble Globetrotter II 28 Moored Noble Bully II (1) Noble…
  14. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 14
    Attractive Leverage to Raising Dayrates Annual Estimated Revenue Contribution From ( Millions) Uncontracted New Deepwater and Jackup Capacity 2,000 1,845 Contracted Drillships 1,688 3 HHI Drillships 1,595 6 JU3000N Jackups…
  15. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 15
    Value Impact of Fleet Transformation Estimated Revenue Distribution by Asset Type 2011 2015 Actuals Projection 23% 24% 33% 10% 40% 4% 6% 31% 6% 23% Ultra-deepwater Other Floater Standard Jackup Deepwater High Spec…
  16. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 16
    Sector Updates
  17. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 17
    Floating Rig Fleet Contract Status Committed Uncommitted 23% 26% 37% 77% 74% 63% 2012 2013 2014 Source: Noble 18
  18. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 18
    Deepwater Sector Highlights Customer demand building across most regions US GOM, Brazil, Africa, Far East Capacity largely committed in 2012 Leading to improving opportunities for moored deepwater units Drilling success remains…
  19. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 19
    Announced Deepwater Discoveries 2009-2011, Water Depth 4,500 Ft. and Greater Countries with Discoveries 12 5 77% 54% Golden Golden Triangle Triangle 2008 2011 2 1 1 3 20 1 2 4 1 3 1 2 4 1 7 5 1 9 27…
  20. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 20
    Deepwater Open Demand Supporting Future Drilling Prospects Additional offshore acreage awards: Angola Kenya Romania Australia Mauritania Sao Tome & Principe Indonesia Namibia Tanzania Israel New Zealand US Gulf of Mexico 1…
  21. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 21
    Deepwater Sector Highlights Customer demand building across most regions US GOM, Brazil, Africa, Far East Capacity largely committed in 2012 Leading to improving opportunities for moored deepwater units Drilling success remains…
  22. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 22
    Deepwater Dayrates Trending Higher Average Contract Length in 2012 to Date 2 years, with Average Dayrate per Contract Award at 514,000 (1) Source: IHS Petrodata (1) Excludes 26-rig Build in Brazil program at 15 years per unit 23
  23. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 23
    Deepwater Sector Highlights Customer demand building across most regions US GOM, Brazil, Africa, Far East Capacity largely committed in 2012 Leading to improving opportunities for moored deepwater units Drilling success remains…
  24. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 24
    Ultra-Deepwater Capacity Additions Uncontracted Capacity 21 18 17 16 Mid-2011 16 number stood at 21 3 2012 2013 2014 Source: IHS Petrodata as of April 26, 2012 25
  25. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 25
    Deepwater Sector Highlights Customer demand building across most regions US GOM, Brazil, Africa, Far East Capacity largely committed in 2012 Leading to improving opportunities for moored deepwater units Drilling success remains…
  26. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 26
    Jackup Rig Fleet Contract Status Committed Uncommitted 25% 23% 42% 58% 75% 77% 2012 2013 2014 Source: Noble 27
  27. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 27
    Jackup Sector Highlights Improving utilization as demand builds in numerous regions Surplus jackups in decline Dayrates for standard jackups continue to experience improvement North Sea contract commitments are addressing 2013…
  28. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 28
    Summary Comments Fleet transformation well-timed leading to optimization of shipyard capacity and operators needs Tight capacity for ultra-deepwater rigs leading to improving dayrates for moored units Standard jackup segment…
  29. SUSQUEHANNA 2012 ENERGY AND RESOURCES CONFERENCE – Noble Corporation plc – slide 29
    Noble Corporation Dorfstrasse 19a 6340 Baar Switzerland www.noblecorp.com Investor contact: Jeffrey L. Chastain Vice President Investor Relations 281-276-6383 Enterprise Value (as of 4/25/2012) 14.3 billion Primary Exchange NYSE: NE…

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