Jefferies 2011 Global Energy Conference November 30, 2011 Rob Saltiel President & CEO Positioned for Growth 1
Company Overview 3
Atwood Oceanics Profile (NYSE ticker ATW) Headquartered in Houston, Texas Founded in 1968, operating since 1970 Strong safety, reliability and performance culture Diversified international rig fleet and customer base…
Strong Margins and Capital Returns 50% 45% SDRL SDRL ATW ATW 40% ESV DO RDC 35% NE FY 11 ESV 30% DO EBIT 25% Margins FY 12 RIG 20% RDC NE RIG 15% 10% 5% 0% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Capital…
Leading Share Price Performance 20 Year Share Price History *, ** 3000% 5Y Year Sh P i Growth Share Price G th 2700% ATW SDRL 157% 2400% NE RDC ATW 61% 2100% 1800% DO 14% 1500% 1200% ESV 6% 900% NE 0% 600% 300% RDC -3% 0% 91 93…
Rig Fleet and Operations 8
Diversified Rig Fleet with Global Presence London ATWOOD ADVANTAGE Houston, Texas ATWOOD SOUTHERN CROSS ATWOOD ACHIEVER RICHMOND ATWOOD AURORA Kuala Lumpur p VICKSBURG C S U G ATWOOD BEACON ATWOOD HUNTER ATWOOD FALCON…
Ensuring Operations Integrity Example Atwood Initiatives People Technology Well control trainingg and drills BOP enhancements Emergency management training BOP testing Competency assurance Tubular shear testing People…
Delivering Performance Excellence Atwood Osprey Mill i ExD Millenium E D semisubmersible i b ibl contracted t t d tto Chevron and partners for Greater Gorgon development in Australia Construction and commissioning at Jurong…
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…
Growth Strategy 13
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…
Driller Investments in Organic Growth As of November 29, 2011 25.0 RIG 20.0 erprise Value (billions) 15 0 15.0 ESV NE 10.0 DO Ente 5.0 RDC ATW 0.0 00 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% % Newbuild Rigs to…
Atwood Condor Ultra-deepwater DP Semi-submersible Scheduled delivery in June 2012 from Jurong Shipyard Design and Capabilities Friede & Goldman Millennium ExD Design Dynamically Positioned 10,000 ft. water depth capability Six-ram…
Atwood Advantage and Atwood Achiever Ultra-deepwater DP-3 Drillship 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 high-specification through 2014 Three ultra deepwater units Three high specification jackups Estimated built-in EPS growth of…
Market Outlook and Contracts 21
Floater Market M i oilil b Maturing i oilil production basins, d i d li decline rates and deepwater exploration success drive long-term demand Day rates continue to improve and are exceeding 500,000 per day for ultra- deepwater…
Jackup Market Demand increasing as Brent crude prices remain above 100 per barrel All newbuilds from 2005 2005-2009 2009 cycle have been contracted a 2nd build cycle has started with Atwood a first mover High-spec rig…
Atwood Fleet Contract Status - 1.7 billion in backlog* 2011 2012 2013 2014 Rig Class/Rig+ Customer Location Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ultra-Deepwater Drillship Atwood Advantage Available Korea Available late 2013…
Balance Sheet Supports Future Growth Debt/EBITDA * Debt/Capitalization * 5.8 4.9 3.5 34% 35% 32% 33% 31 3.1 3.1 26% 24% 21% 1.4 0.9 RDC ATW DO ESV RIG NE **SDRL DO ATW **SDRL RDC NE ESV RIG Active 500 million…
New Credit Facility for Growth Strategy 750 million revolving credit agreement Commitment can be increased to 1.1 billion upon delivery of the Atwood Condor Matures May 2016 Balance at November 30,, 2011 520 million Interest…
Summary 29
Atwood Oceanics Positioned for Successful Growth Excellent safety systems and operating reputation Leading financial and shareholder performance Diversified customer base and market presence Expanding high-specification rig…
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 31
Loading...
