Barclays CEO Energy-Power Conference September 11, 2013 Rob Saltiel President and CEO Atwood Oceanics, Inc. 1
Overview & Strategy 3
Transforming Atwood Oceanics Multi-year investment in fleet modernization and expansion Delivering 6 UDW floater and 3 jackup newbuilds from 2011 thru 2015 Will own youngest high-specification floater and jack-up fleets…
Steady Revenue and Earnings Growth 2008-Present Revenue Net Income Millions Millions 1,200 350 345 1,059 96* Q4 1,000 288* 300 Q4 250 272 800 257 90 787 273 Q3 200 215 Q3 600 651 150 86 527 253 400 Q2 Q2 100 200 245 73…
Shareholder Return: ATW Vs. Peers* Total Shareholder Return: 1 Year Comparison Total Shareholder Return: 3 Year Comparison 160% 30% 138.5% 140% 25% 24.2% 19.9% 120% 109.1% 20% 100% 15% 80% 10% 60% 5% 2.7% 37.4% 2.3% 40% 26.5%…
Expanding our High Specification Rig Fleet Five newbuilds delivered on budget and ahead of schedule 6 Ultra-Deepwater Floaters 3 High-Spec Jackups 4.5 Billion Investment Atwood Mako Atwood Manta Atwood Orca Atwood Archer…
Improving Revenue Quality 2011 vs. 2015 FY 2011 Revenue FY 2015 Revenue* 10% 10% 17% 54% 29% 80% Ultra Deepwater Floaters Ultra Deepwater Floaters High Spec Jackups High Spec Jackups Other Other *Source: Atwood…
Fleet Transformation and Growth Atwoods fleet has a strong presence in Australia, Southeast Asia and West Africa ATWOOD ADVANTAGE ATWOOD ACHIEVER ATWOOD BEACON Houston, Texas ATWOOD ADMIRAL ATWOOD ARCHER ATWOOD CONDOR ATWOOD…
Execution Performance 10
What Industry Analysts rd Say About Our Execution Sell-side comments on our 3 Quarter results Atwood has arguably been the best execution story this cycle Atwood is a top-tier operator Atwood continues to impress in terms of…
Atwood Execution Leads to Financial Outperformance Changes in consensus 2013 EPS Consensus 2012 EPS Between Between Between change between Jan. & March Mar. & June June & Aug. Jan. & Dec. 2012 2013 2013 2013 ATW +0% +4% +2%…
Achieving Top-Tier Execution Value Drivers Revenue Cost Project Key Enablers Efficiency Control Management - Centralized maintenance and technical support 2011 - Consistent standards - Atwood Osprey Best-in-class Operating and…
Continuous Safety Performance Improvement Fiscal Year 2008-Present Total Recordable Incident Rate Lost Time Incident Rate 1.2 0.40 0.35 1.0 1.05 0.30 0.8 0.80 0.25 0.26 0.6 0.68 0.20 0.18 0.15 0.4 0.10 0.2 0.05 0.06 0.0 0.00…
Major Accomplishments Year to Date Partial Listing Signed Orca to initial 2-year contract in Thailand Jan 2013 Announced 1Q FY2013 results with 95% revenue efficiency Jan 2013 Delivered Atwood Orca 10 weeks ahead of schedule April…
Near-Term Priorities and Potential Catalysts Delivery and start-up of the Atwood Advantage (October / November 2013) Contracting of the Vicksburg (January 2014 availability) Contracting of Atwood Hunter post- shipyard (May /…
Market Outlook and Contracts 17
76 Recent Discoveries in Floater Water Depths* December 2011 to June 2013 7 5 5 4 Golden Triangle 12 9 12 5 7 10 Deepwater and ultra-deepwater prospectivity continues to be excellent * Water depths greater than 500…
Jackups: Contracted Utilization Improvement Worldwide Jackup Supply and Utilization 105% 499 480 100% 386 95% 400 90% 320 85% 240 80% 160 75% 80 70% 0 65% Total Supply Total Contracted Utilization High Spec…
Positive High-Spec Jackup Outlook Bifurcation driving increased utilization and day rates Utilization and day rates remain strong Overall contracted utilization rates for high spec rigs approximately 100% Dayrates currently in the…
Planned Capital Expenditures Fully Financed 2.0 billion1 in remaining total Millions capital expenditures as of 1,000 945 September 1, 2013 900 Approximately 2.0 billion in 221 800 contracted after tax cash flow through FY2016…
The Atwood Advantage High-Quality Operating Fleet with Aggressive Growth Initiative Knowledgeable Attractive and Experienced Geographic Management Team Diversity Significant Strong Backlog Liquidity and with High Quality…
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