Jefferies 2013 Global Energy Conference November 12, 2013 Rob Saltiel President & CEO Atwood Oceanics, Inc. 1
Overview & Strategy 3
Transforming Atwood Oceanics Multi-year investment in fleet modernization and expansion Delivering 6 UDW floater and 3 jackup newbuilds from 2011 thru 2015 Will own youngest high-specification floater and jack-up fleets…
Steady Revenue and Earnings Growth 2008-Present Revenue Net Income Millions Millions 1,200 350 350 1,000 1064 300 250 272 800 257 787 200 215 600 651 150 527 400 100 200 50 0 0 2008 2010 2012 2013 2008 2010 2012…
Shareholder Return: ATW Vs. Peers* Total Shareholder Return: 1 Year Comparison Total Shareholder Return: 3 Year Comparison 25% 100% 22.1% 80.6% 20% 80% 15% 11.3% 60% 50.1% 10% 8.7% 40% 5% 24.2% 0.5% 0.7% 1.4% 20% 12.7% 0% 6.6%…
Reducing the Revenue-Weighted Age of our Fleet 30 25 DO RIG Fleet Age (Years) 20 NE 15 ESV RDC 10 ATW 5 0 9 Source Johnson Rice & Company September 30, 2013 Research Report
Improving Revenue Quality 2011 vs. 2015 FY 2011 Revenue FY 2015 Revenue* 10% 10% 27% 54% 19% 80% Ultra Deepwater Floaters Ultra Deepwater Floaters High Spec Jackups High Spec Jackups Other Other *Source: Atwood…
What Industry Analysts rd Say About Our Execution Sell-side comments on our 3 Quarter results Atwood has arguably been the best execution story this cycle Atwood is a top-tier operator Atwood continues to impress in terms of…
Atwood Execution Leads to Financial Outperformance Changes in consensus 2013 EPS Consensus 2012 EPS Between Between Between change between Jan. & March Mar. & June June & Aug. Jan. & Dec. 2012 2013 2013 2013 ATW +0% +4% +2%…
Achieving Top-Tier Execution Value Drivers Revenue Cost Project Key Enablers Efficiency Control Management - Centralized maintenance and technical support 2011 - Consistent standards - Atwood Osprey and institutionalizing…
Continuous Safety Performance Improvement Fiscal Year 2008-Present Total Recordable Incident Rate Lost Time Incident Rate 1.2 0.40 0.35 1.0 1.05 0.30 0.8 0.80 0.25 0.26 0.6 0.68 0.67 0.20 0.18 0.15 0.4 0.10 0.2 0.05 0.06…
Major Accomplishments Year to Date Partial Listing Delivered Atwood Orca 10 weeks ahead of schedule April 2013 Announced 2Q FY2013 results with record quarterly revenue May 2013 Agreed to repurchase 2 million shares from Helmerich &…
Near-Term Priorities and Potential Catalysts Delivery and start-up of the Atwood Advantage (end-November 2013) Contracting of Atwood Hunter post- shipyard (May / June 2014 availability) Contracting of Atwood Admiral (April 2015…
Market Outlook and Contracts 19
92 Recent Discoveries in Floater Water Depths* December 2011 to August 2013 11 11 10 6 4 Golden Triangle 13 12 10 7 9 10 Deepwater and ultra-deepwater prospectivity continues to be excellent * Water depths greater…
Jackups: Continued Utilization Improvement Worldwide Jackup Supply and Utilization 600 120% 504 500 100% 387 400 80% 300 60% 200 40% 100 20% 0 0% Total Supply Total Contracted Utilization High Spec Contracted…
Positive High-Specification Jackup Outlook Bifurcation driving increased utilization and day rates Utilization and day rates remain strong Overall contracted utilization rates for high spec rigs approximately 100% Dayrates currently…
Revenue Backlog Analysis Millions By Year Total = 3.8 Billion By Contractor Type 1,600 Millions 1,400 1,442 345 1,200 1,120 1,184 1,000 1,390 800 600 2,011 400 200 0 Majors/Large NOCs 2014 2015 2016+ Large Independents…
Financial Considerations 26
Planned Capital Expenditures Fully Financed Millions 2.0 billion1 in remaining total 1,000 capital expenditures as of 960 November 1, 2013 800 356 Approximately 1.9 billion in contracted after tax cash flow through FY2016 is…
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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