Credit Suisse Energy Summit 2012 February 7, 2012 Rob Saltiel President & CEO 1
Company Overview 3
Atwood Oceanics Profile (NYSE ticker ATW) Domiciled in the US and headquartered in Houston, Texas Founded in 1968, operating since 1970 Strong safety, reliability and performance culture Diversified international rig fleet and…
Consistent Financial Performance 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 Aurora…
Strong Margins and Capital Returns 50% SDRL SDRL 45% ATW ATW 40% ESV ESV RDC 35% RDC NE DO FY 12 30% NE DO EBIT 25% RIG Margins FY 13 20% RIG 15% 10% 5% 0% 0% 2% 4% 6% 8% 10% 12% 14% 16% Capital Return*…
Leading Share Price Performance 20 Year Share Price History *,, ** 3000% 2700% ATW 2400% NE RDC 2100% 1800% 1500% 1200% 900% 600% * Through January 30, 2012 300% includes dividends. 0% ** Includes all drillers with a 20…
Diversified Rig Fleet with Global Presence Atwoods fleet has a strong presence in Australia, Southeast Asia and West Africa Houston, Texas ATWOOD ADVANTAGE ATWOOD ACHIEVER ATWOOD CONDOR ATWOOD AURORA VICKSBURG ATWOOD BEACON…
Operational Excellence Atwood Osprey: Template for Success Safe and Efficient Operations Built the UDW Atwood Osprey for 625 million Fleetwide in 2008 2011 Contracted to Chevron / Exxon / Shell in Emphasis on safety, training and…
Growth Strategy 10
Executing our Growth Strategy Maximize operating and financial performance from existing fleet to generate cash flow to fund growth Revenue efficiency Cost C 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 12,000 ft. water depth capability Seven-ram S BOP with ith acoustic ti package k…
Newbuild High-Specification Jackups Atwood Mako, Manta and Orca Scheduled delivery in 2012 and 2013 from PPL Shipyard Design and Capabilities Pacific Class (Baker Marine) 400 design 400 ft. water depth capability 750 ton traveling…
Are We Getting Full Credit For Our Growth Story Six additional high specification rigs being delivered through high-specification 2014 Three ultra deepwater units Three high specification jackups Estimated built-in EPS growth of…
Market Outlook and Contracts 16
Competitive Impact of World Fleet Bifurcation Well depth and High specification rigs complexity increasing have Greater capabilities Safer, more efficient operations More challenging and Fleet remote operations Bifurcation…
Utilization Rates by Rig Age g demonstrate higher Newer rigs g utilization rates;; high-spec g p rigsg receive stronger g utilization rates regardless g g of age Current Floater Utilization by Build Cycle Floater Utilization since…
Ultra-Deepwater Rig Supply and Demand Ultra-deepwater Ult d t rigi demand d d is i projected j t d to t increase i dramatically d ti ll through th h 2016 Exploration activity drives future development demand growth…
Favorable Jack-Up Outlook Newer, high-spec jack-ups are expected to continue to outperform older, standard jack- ups Utilization rates for high-spec rigs is currently around 95% High-spec utilization has been stable and above 85%…
Atwood Fleet Contract Status 2012 2013 2014 Ri Cl Rig Class/Rig /Ri Customer C Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ultra-Deepwater Drillship Atwood Advantage Available Delivery late 2013 Delivery mid Atwood Achiever Available…
Newbuild Capital Expenditures Capex C Outlook O tl k Newbuild Capex, in millions Funded 60% cash flow from Operations, Total = 2,533 million 40% from revolving credit facility (millions) 1,000 1,000 875 900 900 78 800 800…
Cost-Effective Maintenance of Rig Fleet Bubble B bbl size i denotes d t average maintenance i t capital it l expenditures as a percent of gross PP&E from 2006 2010 Fleet Maintenance CAPEX / Gross PPE 37 % of Rigs 5 Yrs 5 Yrs…
Summary 27
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…
Thank You Rob Saltiel rsaltielatwd.com Phone: 281-749-7800 Mark L. Mey mmeyatwd.com Phone: 281-749-7800 www.atwd.com www.atwd.com 29
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