Noble Corporation Dynamically Positioned for Success David W. Williams Chairman, President, and Chief Executive Officer Credit Suisse Energy Summit February 9, 2011 Vail, Colorado
Todays Discussion Who is Noble Renewing the Fleet Outlook for the Rig Market & Geographic Review Safety Conclusion 3
Who is Noble Aligning Rigs Around Customers and Geology 45 Jackups 14 Semisubmersibles 12 Drillships 2 Submersibles 1 FPSO 73 Total Rigs + FPSO 4
Second Largest Industry Backlog As of January 1, 2011 Millions 30,000 Estimated by ODS and includes estimates of backlog by ODS where dayrates have not been 25,000 24,450 made public. Jackups 20,000 Floaters Other 15,000…
Nobles Strategy Vision To be the preferred offshore drilling contractor Goals To operate in a manner that provides the highest focus on safety and the environment To maintain top tier margins and provide shareholders with a…
Renewing the Fleet: Phase 1 Phase 1 of the newbuild program added: 3-400 HDHE jackups 4-10,000+ semisubmersibles 2007 2008 2009 2010 2011 2012 2013 7
Renewing the Fleet: Phase 2 Phase 2 of the newbuild program adds: 4-10,000 DP Drillships Delivered 2011, 2013 Already fully contracted Bully rigs at 440k/day Bully I Bully II Globetrotters at 410k/day + 15% bonus 2011 2012…
Bully Construction Progress Bully I due to leave shipyard late July Overall completion: 91% Commissioning: 46% Bully I quayside First stand of pipe racked in Huisman carousel 9
Renewing the Fleet: Phase 3 2 Newbuild JU3000N HDHE jackups 4 options Yard deliveries 4Q12, 2Q13 220 mm all-in cost Turn-key construction by Jurong Shipyard Superior capabilities to most newbuilds Noble Scott Marks JU3000N…
Renewing the Fleet: Phase 3 2 Newbuild Ultra-Deepwater Drillships 2 options Yard deliveries 2Q13, 4Q13 605 mm all-in cost Proven design and turn-key construction by established shipyard- Hyundai Heavy Industries Co. Ltd. 1st…
Impact of Frontier Acquisition & Newbuild Additions 2/10 2/11 Ultra-Deepwater (7,500) 6 12 Drillships 1 6 10 Ultra-deepwater Semisubmersibles 5 6 units are < 10 years old Deepwater (4,001 7,500) 8 9 NCB, NDB, NDA, NJD, Drillships…
Pro Forma Balance Sheet Following January 31, 2011 Debt Offering Millions Pro Forma December 31, December 31, Includes Nobles 2010 2010 1/31/11 debt ASSETS Cash 338 1,025 offering of 1.1 Other current assets 493 493 billion: PP&E,…
Whats Next for Noble Continuing to evaluate if market conditions favorable for exercising up to 4 jackup and 2 drillship options Have undertaken an exercise to identify core vs. non-core jackups and floaters for potential…
Market Outlook to 2020 Oil prices continue in the 80+ range Continue to expect rig demand recovery over next several years with progressive growth to the end of the decade Major areas of growth for jackups will be Middle East,…
U.S. Gulf of Mexico Floater Status 2 rigs earning full dayrate performing completion work (NDA, NAR). Units could return to stand-by (NDA) or become idle (NAR) if additional allowable work is not developed. 2 rigs in shipyard…
Containment Device Requirement: Nobles Capping Stack (Patent Pending) Construction expected to be complete by early March. 17
Mexico: New Tenders Published Pemex jackup rig count fell to mid- teens at the end of 2010 Recent hi-spec tenders with 10- year age restrictions were met with little or no interest. Some units that did bid were later disqualified…
Brazil Operations Update Noble Phoenix being substituted for Noble Muravlenko contract with Petrobras (4Q2011 event) Noble Leo Segerius will enter shipyard shortly to under upgrade Segerius Stern Section Noble Roger Eason…
Safety Matters Now More Than Ever Recordable Incident Rates Noble vs. IADC Safety is a 6.0 paradigm of the organization and must not be 5.0 4.0 compromised. 3.0 2.0 1.0 .0 * 95 96 97 98 99 00 01…
Focusing Beyond the Incident Rates Additional Focus Area 21
Upcoming Potential Catalysts Noble Homer Ferrington returns to payroll 4/1/11 Mexico tenders expected to resolved by 4/1/11 Noble Clyde Boudreaux returns to payroll mid-April Noble Jim Day expected to be contracted Bully I,…
Noble: One of the Best Values in the Space Noble has and continues to renew the fleet 15 new units delivered 2007-2013 3 drillships to be delivered in 2011 8.3 BN in backlog for new fleet additions Evaluating existing fleet…
Noble Corporation Noble Corporation Dorfstrasse 19a 6340 Baar Switzerland www.noblecorp.com Investor contact: Lee M. Ahlstrom Vice President IR & Planning 281-276-6440
Sustaining the Fleet Brazil Drillship Upgrades Work Scopes Goals: Operate dry-dock-free for 5 years Enhanced Reliability; Eliminating downtime Increase Marketability Timing: 240 days; 150 days paid at 90k/day Workscope New…
2011 Guidance Capital Spending Million 2012 & 2013 Newbuild Estimate - 1,500 2011 Estimate 2,100 2010 120 Drillships in Brazil Actual 225 Sustaining/Maintenance 1,400 Major Projects 540 Budget BOP…
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