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Q2 2011 EARNINGS CALL – Seadrill Limited

Seadrill Limited · Aug 25, 2011 · 25 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. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 1
    Conference call Q2 2011 results August 25, 2011
  2. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 2
    Contents Highlights 2Q 2011 2Q 2011 accounts Investments Market view Contract status Dividend policy Summary 6th gen. semi-submersible rig West Pegasus 2
  3. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 3
    Highlights Second quarter 2011 EBITDA of US579m compared to US573m in the preceding quarter Net income of US645m, including US416m in accounting gain on realization of Pride shares, and earnings per share of US1.34 Cash dividend of…
  4. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 4
    Subsequent events Seadrill acquired a 33.75 percent ownership stake in Asia Offshore Drilling Ltd through a private placement Seadrills majority owned subsidiary, North Atlantic Drilling Ltd, takes delivery of the harsh environment…
  5. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 5
    Financial performance highlights 5
  6. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 6
    EBITDA contribution 6
  7. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 7
    Operating Income 7
  8. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 8
    Net Income 8
  9. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 9
    Operating Income 9
  10. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 10
    Operating Income 10
  11. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 11
    Operating Income 11
  12. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 12
    Seadrill Balance Sheet 12
  13. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 13
    Seadrill Balance Sheet 13
  14. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 14
    North Atlantic Drilling Financial reporting highlights 14
  15. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 15
    North Atlantic Drilling Operating Income 15
  16. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 16
    North Atlantic Drilling Balance Sheet 16
  17. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 17
    Worldwide operations North Atlantic - 6 units Newbuilds - 14 units - 3 Semis - 2 Jack-ups - 2 Semis - 1 Drillship - 3 Drillships - 1 HE jack-ups Americas - 10 units - 4 BE jack-ups Gulf of Mexico - 2 Semis - 3 Tender rigs -…
  18. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 18
    Newbuild portfolio increased by 1 unit 1 semi-tender ordered from Fleet development Keppel FELS for US200m Rigs Acquired a 33.75% stake in 60 59 59 59 Tellus Asia Offshore Drilling, which 58 57 57 T-16 Linus 56 has 3 + 1…
  19. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 19
    Market development Brent Spot Price Still favorable oil price environment 160 140 120 US per barrel Strong growth in E&P spending 100 80 60 40 Trend towards more challenging and 20 complex resources continues…
  20. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 20
    US7.8 billion contract backlog - Floaters Staggered contract portfolio offers flexibility 20
  21. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 21
    US2.6 billion contract backlog - Jack-ups Sound interest for premium rigs 21
  22. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 22
    US1.9 billion contract backlog - Tender rigs Market support strong EBITDA margins 22
  23. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 23
    Dividend distribution and policy Cash dividend resolved at US0.75 per share Increase reflects improved free cash flow and earnings visibility Future dividend depends on: Contract coverage Capital expenditure programs and other…
  24. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 24
    Seadrill is uniquely positioned Diverse versatile fleet of brand new rigs Improved operational performance Encouraging feedback from our customers Operations expanded to new geographical regions Sound market prospects for all…
  25. Q2 2011 EARNINGS CALL – Seadrill Limited – slide 25
    Asset portfolio Core fleet 51 units built after Y2000 10 built before Y2000 17 Ultra-Deepwater Units + 1 Mid-water Semi 1 Mid-water Semi 20 High Specification Jack-up rigs 2 Jack-up rigs 14 Tender Rigs 7 Tender Rigs…

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