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 1.00 dividend Contract signed with Apache and Taqa contract value USD 424 million Total Q2 Revenue approx. USD 59.5 million; EBITDA USD 38.6 million Q2 Opex per rig approx. USD 72,500 per day…
2. Q2 2013 Financial Results
Q2 2013 Income Statement Condensed statement of comprehensive income in USD thousands, except earnings per share YTD YTD Q2 2013 30.06.13 Q2 2012 30.06.2012 (unaudited) (unaudited) (unaudited) (unaudited) Contract revenue 58,698…
Q2 2013 Balance Sheet Condensed statement of financial position in USD thousands 30.06.2013 31.12.2012 (unaudited) (audited) Rigs, machinery and equipment 246,516 250,173 Deferred tax asset 1,914 853 248,430 251,026 Trade and…
3. Operational Update
Contract Status Current Backlog USD 830 million AWILCO DRILLING PLC CONTRACT STATUS 2013 2014 June July Aug Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec WILHUNTER : Hess 360,000 385,000…
Operational Performance High operational performance in Q2 with 97.3% operational uptime Continued positive customer feedback Opex still lower than guidance in Q2 Lower than planned spend on major expense projects due to…
Dividend Distribution Announcement of dividend payable in Q3 of USD 1.00 per share Dividend payable on or around the 20th September 2013 Share will trade ex-dividend on 21st August 2013, the record date will be 23rd August Future…
4. Market Outlook
Dayrates and Contract Duration 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 Company Rig name 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 Nov Dec…
Why do we expect the UK market to be tight beyond 2014 Sustained high oil price well above investment triggers and combined with the UKs stable tax regime is under-pinning operator confidence UK Government encouraging drilling…
5. Summary
Summary Market fundamentals remain positive Solid current contract backlog of USD 830 million Continued focus on operational efficiency Announcement of dividend payable in Q3 of USD 1.00 Evaluating growth opportunities on a…
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