BARCLAYS CEO ENERGY POWER CONFERENCE – Atwood Oceanics Inc

Atwood Oceanics Inc · Sep 15, 2010 · 20 slides

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Atwood Oceanics, Inc. Barclays CEO Energy Power Conference Presented by: Rob Saltiel President and CEO Mark Mey Senior Vice President and CFO September 15, 2010 www.atwd.com 1
Atwood Oceanics Profile (ticker ATW) Founded in 1968, operating since 1970 Named one of Fortunes fastest growing companies 2007-2010 Industry-leading gross and net profit margins Diversified fleet with focus on high-specification…
Consistent Revenue and Earnings Growth Revenue Net Income ( millions) ( millions) 645 587 251 250 527 215 403 139 277 86 176 26 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 E FY 05 FY 06 FY 07 FY 08 FY 09 FY 10…
Net Margins Lead Peer Group FY 2010E FY 2011E ATW 40% ATW 40% NE 35% NE 35% SDRL 31% ESV 32% ESV 31% SDRL 31% DO 29% DO 28% RIG 24% PDE 26% PDE 19% RIG 24% RDC 16% RDC 15% Source: First Call estimates 5
Strong Margins and Capital Returns 60% ATW ATW 50% SDRL DO DO SDRL NE NE ESV 40% ESV RIG RIG PDE EBIT 30% Margins RDC FY 10 RDC PDE FY 11 20% 10% 0% 0% 5% 10% 15% 20% 25% 30% 35% ROCE Source: First Call…
Solid Share Price Performance 20 Year Share Price History */** 5 Year Share Price Growth * 2500% ATW 33% 2250% 2000% ATW DO 31% NE 1750% PDE ESV 3% RDC 1500% 1250% PDE -7% 1000% NE -10% 750% RIG -14% 500% 250% RDC…
Attractive Valuation FY 2011 Estimates P/E EV/EBITDA RDC 11.6 SDRL 6.3 ESV 9.6 PDE 5.7 DO 8.5 ESV 5.0 PDE 8.2 DO 4.9 SDRL 7.1 RIG 4.8 NE 6.5 RDC 4.5 RIG 6.4 ATW 4.3 ATW 6.0 NE 3.8 Source: First Call…
Diversified Fleet with Global Presence London ATWOOD AURORA Houston, Texas ATWOOD SOUTHERN CROSS RICHMOND Kuala Lumpur VICKSBURG ATWOOD HUNTER ATWOOD FALCON SEAHAWK ATWOOD OSPREY Singapore ATWOOD CONDOR ATWOOD BEACON…
Rig Availability Calendar Year Rig Class / Rig Customer 2010 2011 2012 2013 2014 Ultra-Deepwater Semisubmersibles Atwood Osprey Chevron 470,000 Atwood Condor Available mid-2012 Deepwater Semisubmersibles Atwood Eagle BHP / Chevron…
Significant Revenue and Cash Flow Backlog millions Revenue backlog 1.3 billion After tax cash flow backlog 750 million 650 355 360 250 215 150 50 30 FY 10 FY 11 FY 12 FY 2013/14 REVENUES AFTER TAX CASH FLOWS 11
Atwood Osprey Ultradeepwater Semi-submersible Scheduled delivery in early 2011 contracted to Chevron Design and Capabilities Friede & Goldman ExD Millennium Design 12-point mooring system 8,200 ft. water depth capability Five-ram…
Atwood Condor Ultradeepwater DP Semi-submersible Scheduled delivery in mid-2012 Design and Capabilities Friede & Goldman ExD Millennium Design Dynamically Positioned 10,000 ft. water depth capability Six-ram Mux BOP stack with 3…
Atwood Deepwater Floater Fleet Last Major Water Capabilities Customers Upgrade Depth Atwood Hunter Efficient tree handling Flexible mud system 2001 5,000 ft Large deck space Expanded accommodations Atwood Eagle Efficient tree…
Floater Market Outlook Maturing oil basins, oil production decline rates and deepwater exploration success drive development-based demand Macondo incident delaying rig decisions High utilization of ultra-deepwater (7500+ ft.)…
Atwood Jackup Fleet Year Delivered*/ Water Capabilities Customers Last Upgrade** Depth Atwood Beacon Single stage preload Extended-reach cantilever 2003* 400 ft High pressure mud system Atwood Aurora Offline stand building…
Jackup Market Outlook Demand recovering as oil prices stabilize in 70-80 per barrel range Most newbuilds contracted post-2010 - nearing end of digestion cycle High-spec rig utilization stable above 92% with rising dayrates…
Built-in Growth Deepwater semisubmersible dayrates show continued strength as evidenced by the Atwood Eagle extension at 390,000 per day Atwoods deepwater semis average more than one year of backlog further extensions likely…
Balance Sheet Supports Growth Plans Debt/Capitalization * 65% Debt/EBITDA ** 3.6 2.9 36% 2.1 29% 20% 21% 1.4 15% 9% 0.7 0.7 5% 0.3 0.3 ESV NE ATW RDC PDE DO RIG SDRL ESV NE ATW DO RDC RIG PDE SDRL Active 500 million…
Atwood Oceanics Positioned for Growth Excellent safety and operating reputation Industry-leading financial and shareholder performance Loyal customer base Growth-supportive balance sheet Diversified fleet and geographic…
Thank You 21

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