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Q3 2011 EARNINGS CALL – Seadrill Limited

Seadrill Limited · Nov 30, 2011 · 27 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. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 1
    Conference call Q3 2011 results November 30, 2011
  2. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 2
    Contents Highlights 3Q 2011 New contracts and fleet status New bank debt Market Outlook 3Q 2011 accounts Seadrill North Atlantic Drilling Q&A session 6th gen. semi-submersible rig West Capricorn 2
  3. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 3
    Highlights Third quarter 2011 Seadrill generates third quarter 2011 EBITDA of US612 million Strong economic utilization of rig fleet maintained Earnings adversely impacted by loss on interest rate swaps following drop in…
  4. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 4
    Market fundamentals Oil prices remain at historically high 160 Brent Spot Price levels 140 120 U S p er b arre l 100 Higher growth in E&P spending 80 60 40 Industry focused on new equipment 20 0 continues in…
  5. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 5
    Highlights New ultra deepwater contracts West Hercules West Capricorn West Leo West Aquarius Dayrate US500,000 US487,500 US510,000- US530,000 561,000 Contract term 4+1 years 5+2 years 1 year 2+2 years Rig type Semi Semi Semi…
  6. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 6
    US9.3 billion contract backlog - Floaters Staggered contract portfolio offers flexibility 6
  7. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 7
    Highlights - Jack-up contracts West Ariel West Callisto West Prospero Dayrate US129,000 US135,000 US129,000 Contract term 1 year 5 months 1 year Area Vietnam Andaman Sea Vietnam Customer VSP Total VSP Sound demand for…
  8. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 8
    US2.5 billion contract backlog - Jack-ups A strong mix of short and long-term contracts 8
  9. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 9
    US1.7 billion contract backlog - Tender rigs Effective units support strong EBITDA margins 9
  10. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 10
    US950 million senior secured bank facilities New West Capricorn facility New Jack-up facility Loan amount: US550 mill. Loan amount: US400 mill. Tenor: 5 years Tenor: 5 years Profile: 10 years Profile: 10 years Security: UDW rig…
  11. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 11
    Seadrill is uniquely positioned Diverse versatile fleet of brand new rigs Strong and steady operational performance Significant improved market conditions for ultra-deepwater units Operations expanding to new countries and…
  12. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 12
    Financial performance highlights 12
  13. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 13
    EBITDA contribution 13
  14. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 14
    Operating Income 14
  15. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 15
    Net Income 15
  16. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 16
    Operating Income - Floaters 16
  17. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 17
    Operating Income Jack-up rigs 17
  18. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 18
    Operating Income Tender rigs 18
  19. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 19
    Seadrill Balance Sheet 19
  20. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 20
    Seadrill Balance Sheet 20
  21. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 21
    North Atlantic Drilling Financial reporting highlights 21
  22. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 22
    North Atlantic Drilling Operating Income 22
  23. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 23
    North Atlantic Drilling Net Income 23
  24. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 24
    North Atlantic Drilling Balance Sheet 24
  25. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 25
    North Atlantic Drilling Balance Sheet 25
  26. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 26
    North Atlantic Drilling Relevant Tax events Increase in corporate income tax rate for Svalbard from 16% to 28% Transfer of remaining two rigs out of Svalbard in 2011 Acceleration of deferred income tax in 2010 and 2011 tax filings…
  27. Q3 2011 EARNINGS CALL – Seadrill Limited – slide 27
    Asset portfolio Core fleet 50 units built after Y2000 10 built before Y2 000 17 Ultra-Deepwater Units + 1 Mid-water semi 1 Mid-water Semi 20 High Specification Jack-ups 2 Jack-ups 13 Tender Rigs 7 Tender Rigs…

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