Barclays CEO Energy-Power Conference September S t b 4-5,4 5 2012 Rob Saltiel President and CEO 1
Company Overview 3
Investment Thesis Industry leading safety performance Industry-leading coupled with consistent and reliable operational performance Top-tier Top tier revenue efficiency and strict cost control leading to: Best-in-class margins…
The Atwood Advantage 1 Revenue Efficiency Industry-Leading Revenue Efficiency Standards & Center of excellence in Houston sets Compliance operations and maintenance standards, monitors compliance and resolves issues Common…
The Atwood Advantage 2 Cost Control Standardization of Drilling and Subsea Equipment Reduced fleet- Reduced shore- wide critical Uniform policies based specialist spares and and procedures technical support inventory UDW…
The Atwood Advantage 3 Project Execution On-Time and Within Budget Project Management PROJECT DURATION TIMING &COST RESULTS Atwood Mako 2 Years 6 weeks early / under budget Atwood Condor 3 Years 2 days early / under budget…
Strong Growth with Increasing Margins With over 40 years of experience in offshore drilling drilling, Atwood has demonstrated the ability to grow EBITDA through a variety of oil price environments Atwood Osprey delivered Atwood…
Industry Leading Margins and Capital Returns 40% SDRL 35% ATW ATW SDRL ESV S 30% ESV RDC FY 12 25% NE DO Margins s DO NET 20% RDC FY 13 NE 15% RIG 10% RIG 5% 0% 0% 3% 6% 9% 12% 15% Capital Return*…
Diversified Rig Fleet with Global Presence Atwoods fleet has a strong presence in Australia, Southeast Asia and West Africa ATWOOD BEACON Houston, Texas ATWOOD ADVANTAGE ATWOOD ACHIEVER ATWOOD CONDOR ATWOOD AURORA VICKSBURG…
Growth Strategy 11
Executing our Growth Strategy Maximize operating and financial performance from existing fleet to generate cash flow to fund growth Revenue efficiency Cost control Expand and renew rig fleet, emphasizing high-specification…
Atwood Advantage and Atwood Achiever Ultra-deepwater DP-3 Drillships Scheduled delivery in 2013 and 2014 from DSME Shipyard Design and Capabilities 12,000ft.ft.water 12,000 waterdepth depth capability capability SSeven-ram Seven…
Newbuild High-Specification Jackups Atwood Mako, Manta and Orca Scheduled delivery in 2012 and 2013 from PPL Shipyard Design and Capabilities Pacific Class Pacific Class (Baker (Baker Marine) Marine) 400400 design design 400…
Improving Revenue Quality 2011 vs. 2014 2011 Revenue 2014 Revenue 9% 10% 23% 44% 80% 33% High Spec Jackups High Spec Jackups Other Other Ultra Deepwater Floaters Ultra Deepwater Floaters Source: Atwood internal…
Market Outlook and Contracts 17
Competitive Impact of World Fleet Bifurcation Well depth and High specification rigs p y increasing complexity g have Greater capabilities Safer, more efficient operations More challenging and Fleet remote operations…
Bullish Outlook for Ultra-deepwater UDW day rates have risen rapidly as new discoveries and a bullish oil price outlook increase worldwide exploration and appraisal activity and support future development drilling projects UDW rigi…
Deepwater/Ultra-deepwater Offshore Discoveries in 2011 Cyprus/Israel US GOM Noble Energy Exxonmobil 2x g gas discoveries Keathley Canyon 25TcF More than 700m boe 1,500m water depth 7,000 ft water depth Ghana Sri Lanka…
Ultra-deepwater Rig* Supply and Demand E t d to Expected t be b tight ti ht through th h 2017 200 180 160 140 Demand 120 Total Visible Supply** 100 Effective Visible Supply*** 80 60 40 20 0 2001 2002 2003 2004 2005…
Favorable Jack-Up Outlook Bifurcation in both utilization and dayrates continues between high specification and standard jack-ups Utilization differentiation currently approach 10% Dayrate differentiation currently exceeds at 50,000…
Middle East, SE Asia and Mexico Drive Demand Growth 23 Source: IHS Petrodata, Pareto Securities, July 2012.
The Atwood Advantage High-Quality Operating Fleet with Aggressive Growth Initiative Knowledgeable Attractive and Experienced Geographic Management Team Diversity Significant Strong Backlog Liquidity and with High Quality…
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