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Q2 2012 RESULTS – Awilco Drilling Plc

Awilco Drilling Plc · Aug 24, 2012 · 18 slides

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Slides

  1. Q2 2012 RESULTS – Awilco Drilling Plc – slide 1
    Q2 2012 Presentation Oslo, 24th of August 2012
  2. Q2 2012 RESULTS – Awilco Drilling Plc – slide 2
    Disclaimer This presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (relevant persons). Any person who is not a relevant person should not act or rely on these…
  3. Q2 2012 RESULTS – Awilco Drilling Plc – slide 3
    Agenda 1. Highlights Q2 2012 2. Contract Overview 3. Q2 2012 Financial Results 4. Market Outlook 5. Summary 6. Q&A 3
  4. Q2 2012 RESULTS – Awilco Drilling Plc – slide 4
    1. Highlights Q2 2012
  5. Q2 2012 RESULTS – Awilco Drilling Plc – slide 5
    Q2 2012 Highlights Total Q2 Revenue approx. USD 32.5 million; EBITDA USD 13.7 million Impact from WilHunter downtime Q2 Opex per rig approx. USD 82,000 per day Value of new contracts and LOIs secured during Q2 was USD 311…
  6. Q2 2012 RESULTS – Awilco Drilling Plc – slide 6
    2. Contract Overview
  7. Q2 2012 RESULTS – Awilco Drilling Plc – slide 7
    Contract Status until 2014 Total Backlog USD 380 million AWILCO DRILLING PLC CONTRACT STATUS 2012 2013 2014 Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec Jan Feb March April May WILHUNTER : Ithaca…
  8. Q2 2012 RESULTS – Awilco Drilling Plc – slide 8
    3. Q2 2012 Financial Results
  9. Q2 2012 RESULTS – Awilco Drilling Plc – slide 9
    Q2 2012 Income Statement Condensed statement of comprehensive income in USD thousands, except earnings per share YTD YTD Q2 2012 30.06.2012 Q2 2011 30.06.2011 (unaudited) (unaudited) (audited) (audited) Contract revenue 32 142 51…
  10. Q2 2012 RESULTS – Awilco Drilling Plc – slide 10
    Q2 2012 Balance Sheet Condensed statement of financial position in USD thousands 30.06.2012 31.12.2011 (unaudited) (audited) Rigs, machinery and equipment 256,069 262,573 Other non-current assets 256,069 262,573 Trade and…
  11. Q2 2012 RESULTS – Awilco Drilling Plc – slide 11
    Operations Improvement measures As a 2 rig company, revenue preservation through operational efficiency is a primary focus Actions taken include: Strengthened the organisation with new Operations Director Gary Holman 30 years of…
  12. Q2 2012 RESULTS – Awilco Drilling Plc – slide 12
    4. Market Outlook
  13. Q2 2012 RESULTS – Awilco Drilling Plc – slide 13
    The UK Market is Tight Source: Fearnley Fonds 13
  14. Q2 2012 RESULTS – Awilco Drilling Plc – slide 14
    but intl markets also improving limited influx going forward Source: Fearnley and ODS-Petrodata 15
  15. Q2 2012 RESULTS – Awilco Drilling Plc – slide 15
    The UK Market is Sold Out for 2013 and 2014 is Filling Up UK FLOATER MARKET CONTRACT STATUS 2012 2013 2014 Company Rig name Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov…
  16. Q2 2012 RESULTS – Awilco Drilling Plc – slide 16
    5. Summary
  17. Q2 2012 RESULTS – Awilco Drilling Plc – slide 17
    Summary Market remains strong Employment secured through Q2 2014, contract backlog of USD 380 million Focus is on operational efficiency Well positioned to start dividend payments in 2013 Evaluating growth opportunities on a…
  18. Q2 2012 RESULTS – Awilco Drilling Plc – slide 18
    Q&A 19

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