Capital One Southcoast Energy Conference December 8, 2010 Sean P. ONeill Vice President Investor Relations
Forward-Looking Statements & Non-GAAP Reconciliations This presentation may contain statements regarding the Company's or management's intentions, expectations or forecasts of the future that are forward- looking statements, including…
A Stronger Company Ultra-deepwater expansion strategy has become a reality Significantly increased regular quarterly cash dividend Redomesticated to the UK High-grading premium jackup fleet Excellent safety record IADC…
Strategy Sole Focus on Offshore Drilling Disciplined investments in high-quality fleet to achieve favorable return on capital Grow deepwater fleet High-grade premium jackup fleet Commitment to safety Operational excellence &…
Global Markets Europe 8 Jackups North & South America Mediterranean 8 U.S. GOM Jackups 2 Jackups 4 Deepwater Semis Middle East 8 Jackups 5 Mexico Jackups Asia Pacific 9 Jackups 1 Deepwater Semi + Under Construction 1 Barge…
High-Quality Fleet Right Mix of Rigs Maximize Return on Investment 18 10 7 7 5 1 250' 300' 350' 400' 7,500' 8,500' Jackups Deepwater 6 Note: Four North Sea rated rigs included under the 250 category. Includes deepwater…
ENSCO 8500 Drilled Anadarkos Major Lucius Discovery 7
ENSCO 8501 8
ENSCO 8502 9
ENSCO 8503 10
Uniform Design Benefits of 8500 Series ENSCO Rig 8500 8501 8502 8503 8504 8505 8506 Shipyard Common Equipment Training Repair & Maintenance Spare Parts New GOM Regulations 11
Ultra-Deepwater Semi Fleet (66 Rigs) 3 Billion+ Investment in 7 ENSCO 8500 Series Rigs Ensco Seadrill 12% 12% Transocean 11% Noble 9% Diamond 8% Others 48% Source: ODS-Petrodata, Inc. Includes 7500 and greater semis…
Industrys Youngest Ultra-Deepwater Fleet In Years 25 16 15 10 3 3 ESV SDRL PDE RIG NE DO Source: ODS-Petrodata, Inc. Includes 4500 and greater water depth without rigs under construction. Ensco has three ultra- 13…
ENSCO 8500 Series Rig Construction Dayrate Status Cost E8500 312M 290s Gulf of Mexico Remaining E8501 338M 370s Gulf of Mexico E8502 385M 480s Gulf of 750 Million Mexico E8503 427M 520s Sea Trials 3Q10 4Q12 E8504 512M…
High-Grading Strategy Drives Superior Margins Extends life Increases capabilities to address new requirements Lowers repair and maintenance expense Reduces downtime 2010 Activities: Divest four jackups Acquire high-spec MOD V…
Competency Assurance Program Commitment to Employee Development International Association of Drilling Contractors (IADC) awards accreditation to Ensco training programs 33 positions worldwide Focus on safety and efficiency of…
Customer Satisfaction EnergyPoint Independent Survey 1 Performance and Reliability 1 Technology 1 Asia Pacific Rim 19
U.S. Gulf of Mexico Performance Managing Through Adversity Virtually all marketed jackups have continued to work ENSCO 86: 1st jackup certified to drill a new gas well ENSCO 82: 1st jackup certified to drill a new oil well ENSCO…
High Operating Margins Ensco v. Peer Average 66% 65% 66% 59% 52% 54% 50% 51% 43% 36% 2005 2006 2007 2008 2009 Peer Average Ensco 21 *Operating income plus depreciation and amortization as a percentage of revenue - Peers…
Record of Growth Shareholders Equity ( Bn) 5.9 Major Uses of Cash 5.5 4.7 2.5 billion of CAPEX for ENSCO 3.8 8500 Series newbuild ultra- 3.2 deepwater rigs 2.5 1 billion for new premium jackups plus fleet enhancements 900…
Capital Management Major increase in quarterly dividend to 0.35 from 0.025 905 million cash position Record shareholders equity 4% leverage ratio lowest in peer group 2.3 billion contract backlog 700 million fully available…
UK Redomestication Key Advantages Executive management oversight Proximity to customers Greater access to European investors Enhanced reputation as a truly global contract driller Competitive tax rate 25
Accomplishments Moving Forward from a Position of Strength Growing fleet of ultra-deepwater semis High-quality fleet of premium jackups Strong safety record IADC accredited training programs Leading customer satisfaction scores…
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