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ISI GROUP ENERGY CONFERENCE – Ensco Plc

Ensco Plc · May 8, 2013 · 33 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. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 1
    ISI Group Energy Conference May 2013 1
  2. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 2
    Vision and Strategy Vision As the offshore driller of choice, we will go beyond what is expected to achieve a safe zero-incident workplace and to be the clear choice among employees, customers and investors Invest in High- Quality…
  3. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 3
    Profile Growth and income story Wide range of enhanced drilling technologies drillships, semis, premium jackups Newest ultra-deepwater fleet Largest active premium jackup fleet Global presence Fleet standardization 1 in…
  4. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 4
    Ensco in 2008 2008 Fleet Size Floaters 2 Jackups 43 Countries 17 Customers 39 Backlog (B) 4 Revenues (B) 2.2 Total Capitalization (B) 5.0 Annual Dividend (per share) 0.10 Customer Satisfaction Rating 2 Categories Ranked 1 3 Credit…
  5. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 5
    Key Milestones 2008 Ordered three ENSCO 8500 Series ultra-deepwater semisubmersibles (1.6 billion commitment) 2009 Redomesticated to U.K. improved operational oversight, tax efficiencies and capital management flexibility 2010…
  6. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 6
    Deepwater Average Day Rates In the two years since the announcement of the acquisition, deepwater average day rates have increased nearly 70% 600 Acquisition closes 25% 500 13% 19% 400 One-year 300 Acquisition anniversary…
  7. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 7
    Key Milestones 2011 Ordered three ultra-premium harsh environment jackups (700 million commitment) 2012 Ordered two ultra-deepwater drillships (1.3 billion commitment) Raised dividend to 1.50 per share annually 2013 Increased…
  8. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 8
    Ensco Now 2008 1Q13 Fleet Size Floaters 2 28 Jackups 43 46 Countries 17 22 Customers 39 47 Backlog (B) 4 12 Revenues (B) 2.2 4.4* Total Capitalization (B) 5.0 16.8 Annual Dividend (per share) 0.10 2.00 Customer Satisfaction Rating 2…
  9. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 9
    Wide Range Capabilities 9 13 6 46 ULTRA & DEEP DYNAMICALLY POSITIONED MOORED PREMIUM WATER DRILLSHIPS SEMISUBMERSIBLES SEMISUBMERSIBLES JACKUP RIGS Note: Includes rigs under construction or on order (May 2013) 10
  10. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 10
    Newest Ultra-Deepwater Fleet ( 7,500) Avg. Age of Fleet Years 23 11 9 3 3 ESV SDRL RIG NE DO Source: IHS-ODS Petrodata May 2013 Ultra-deepwater includes competitive semisubmersibles and drillships able to drill in…
  11. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 11
    Largest Active Premium Jackup Fleet 40 ESV 37 NE 32 SHELF 29 RDC 15 SDRL RIG 11 DO 6 Source: IHS-ODS Petrodata May 2013 Premium jackups include competitive, 250 and larger independent-leg rigs and harsh…
  12. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 12
    Premium Jackup Fleet Overview 1 billion+ invested in existing jackup fleet since 2005 1 billion committed to build three ultra-premium ENSCO 120 Series jackups and one premium jackup, ENSCO 110 All marketed jackups are…
  13. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 13
    Worlds 2nd Largest Offshore Rig Fleet 95 RIG 74 ESV 73 NE 47 SDRL 44 DO 37 SHELF 35 RDC Source: IHS-ODS Petrodata May 2013 Numbers include competitive industry-wide semisubmersibles, drillships and premium…
  14. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 14
    Global Platform Europe & Mediterranean Semi 1 U.S. Gulf of Mexico Jackups 8 Ships 2 Semis 6 Jackups 10 Middle East Jackups 9 Africa Mexico Ships 3 Jackups 4 Semis 1 Brazil Ship 1 Asia Pacific Semis 9 Under Construction Semi 2…
  15. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 15
    Benefits of Standardization ENSCO Samsung DP3 Megathyst DP3 Premium KFELS 8500 Series (7) Drillships (7) Semisubmersibles (4) Jackup Mod V-A,B + Super A (11) Shipyard Common Equipment Training Repair & Maintenance Spare…
  16. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 16
    Standardization A Marketing Advantage ENSCO ENSCO ENSCO ENSCO ENSCO ENSCO ENSCO 8500 8501 8502 8503 8504 8505 8506 17
  17. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 17
    Success of the ENSCO DS Series BP Has Contracted 3 Drillships ENSCO DS-3: U.S. Gulf of Mexico ENSCO DS-4: Brazil ENSCO DS-6: Angola 18
  18. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 18
    Organic Growth from Newbuild Program 7 Under 17 Delivered Construction 4 3 3 3 2 2 2 1 1 1 1 1 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Semisubmersibles Premium jackups Drillships 19
  19. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 19
    Newbuild Delivery Schedule 2013 1Q13 2Q13 3Q13 4Q132014 1Q14 2Q14 3Q14 4Q142015 1Q15 ENSCO DS-7 Contracted ENSCO 120 Contracted ENSCO 121 Contracted ENSCO 122 ENSCO DS-8 ENSCO DS-9 ENSCO 110 Drillships Premium…
  20. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 20
    ENSCO 120 Series Ultra-Premium Jackups Three under construction 700 million+ investment 40,000 total drilling depth 400 water depth 2.5 million pound quad derrick State-of-the-art cantilever envelope Ultra-deep…
  21. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 21
    Deep & Ultra-Deepwater Drilling Opportunity Golden Triangle Proven 22
  22. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 22
    Offshore Reserves mmboe Cumulative Global Deepwater Reserves Discovered 45,000 40,000 Brazil 35,000 30,000 25,000 GOM 20,000 15,000 Angola Australia Norway 10,000 Nigeria 5,000 Equatorial Margin 0 UK 1978…
  23. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 23
    Distribution of Reserves by Water Depth NW Europe 26.8 bn boe US GoM 10.7 bn boe Mexico 9.2 bn boe SS Africa Asia Pacific 63.4 bn boe 94.8 bn boe Middle East 468.2 bnboe 12.5 bn boe Brazil 17.3 bn boe Reserve Water…
  24. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 24
    Disciplined Risk Management Proven rig designs, equipment and shipyards Established operating and safety management systems Diversification Global presence Fleet composition Customer base Strong financial position 25
  25. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 25
    Safety, Health & Environment Total Recordable Incident Rate 0.9 Zero-incident goal 0.8 STOP work authority 0.7 Comprehensive training 0.6 0.5 Quality control and audit 0.4 Dedicated safety 0.3 management systems 0.2 0.1 0.0 2007…
  26. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 26
    Competency Assurance Program Commitment to Employee Development International Association of Drilling Contractors (IADC) has awarded accreditation to Ensco training programs Focus on safety and efficiency of operations Defined…
  27. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 27
    Industry Leader in Customer Satisfaction Rated 1 Total Satisfaction Job Quality Performance & Reliability Technology Special Drilling Applications International Multinationals North Sea Non-Vertical Wells Shelf Wells 28
  28. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 28
    EnergyPoint Survey Results 4Q12 OFFSHORE DRILLERS TOTAL SATISFACTION * PERFORMANCE & RELIABILITY ** Rating Trend Rating Trend Ensco VERY HIGH UP Ensco HIGH STEADY Diamond Offshore AVERAGE STEADY Diamond Offshore AVERAGE STEADY Noble…
  29. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 29
    Strong Financial Position Record 12 billion of contracted revenue backlog Baa1/BBB+ ratings from Moodys/S&P Broad diversification: fleet, markets and customers 67% 44% 38% 31% 28% 25% SDRL RIG NE RDC ESV DO Leverage…
  30. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 30
    Capital Management Maintain Flexibility 2.00 per share cash dividend annualized (3.5% yield) Revenue backlog/projected cash flows support newbuild program and debt maturities 1.9 billion of revolving credit facilities U.K.…
  31. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 31
    Estimated Capital Expenditures billions Note: Capital Expenditures for 2014, 2015 and 2016 0.25 Rig Enhancement and Sustaining projects TBD 0.32 1.20 1.10 0.22 2013 2014 2015 2016 Newbuild Construction Rig…
  32. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 32
    Summary Newest ultra-deepwater fleet Largest active premium jackup fleet Broad customer base Fleet standardization 1 in customer satisfaction Disciplined risk management Strong financial position Invest in High- Quality…
  33. ISI GROUP ENERGY CONFERENCE – Ensco Plc – slide 33
    34

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