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…
Highlights Announcement of USD 1.15 dividend Total Q1 Revenue USD 62.7 million; EBITDA USD 44.1 million Q1 Opex per rig approx. USD 80,100 per day Total contract backlog at end of Q1 was USD 707 million Revenue efficiency…
2. Q1 2014 Financial Results
Q1 2014 Income Statement Condensed statement of comprehensive income in USD thousands, except earnings per share Full Year Q1 2014 Q1 2013 2013 (unaudited) (unaudited) (audited) Contract revenue 62,211 52,292 233,152 Reimbursables…
Q1 2014 Balance Sheet Condensed statement of financial position in USD thousands 31.03.2014 31.12.2013 (unaudited) (audited) Rigs, machinery and equipment 248,146 245,279 Deferred tax asset 2,977 2,763 251,123 248,042 Trade…
3. Operational Update
Contract Status Current Backlog USD 680 million* AWILCO DRILLING PLC CONTRACT STATUS 2014 2015 May June July Aug Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec WILHUNTER : Hess 360K 385,000 385,000 Yard…
Operational Performance Good operational performance in Q1 with 99.4% operational uptime Adverse weather conditions caused waiting-on-weather Continued positive customer feedback Opex in Q1 lower than guiding for 2014 Timing of…
Dividend Distribution Announcement of dividend payable in Q2 of USD 1.15 per share Dividend payable on or around the 20th June 2014 Share will trade ex-dividend on 19th May 2014, the record date will be 21st May Future quarterly…
4. Market Outlook
Contract Rates Remain Attractive in the UK Market Source: Fearnley Fonds and IHS Petrodata 14
The UK Market is close to Sold Out until mid-2015 UK FLOATER MARKET CONTRACT STATUS 2014 2015 2016 Company Rig name May Jun Jul Aug 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…
Why do we expect the UK market to be tight beyond mid-2015 Sustained high oil price and increased operator financial discipline anticipated to increase global operator investments from 2015/2016 onwards UK Government has set out a…
5. Summary
Summary Long term market fundamentals remain positive Solid current contract backlog of USD 680 million, positioning Awilco Drilling well for any potential near term market softness Continued focus on operational efficiency…
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