Skip to main content Q1 2009 EARNINGS CALL – Bw Offshore Investor Presentation | Shale Experts
Loading...
Pm

Q1 2009 EARNINGS CALL – Bw Offshore

Bw Offshore · May 19, 2009 · 21 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. Q1 2009 EARNINGS CALL – Bw Offshore – slide 1
    BW Offshore Q1 2009 presentation 19 May 2009
  2. Q1 2009 EARNINGS CALL – Bw Offshore – slide 2
    Key events Q1 2009 EBITDA of USD 28.5 million, adjusted for share of profit from associates BW Cidade de So Vicente hooked-up and delivered to Petrobras 99.98% operational availability BW Pioneer conversion in line with…
  3. Q1 2009 EARNINGS CALL – Bw Offshore – slide 3
    Q1 2009 FLOATING PRODUCTION 19 May, 2009 4
  4. Q1 2009 EARNINGS CALL – Bw Offshore – slide 4
    Operations Excellent production uptime Production uptime Q1 2009: 99.98% 100.0 99.0 98.0 YUM KAKNAB financial performance 97.0 as planned 96.0 95.0 94.0 100.00% availability on oil train 93.0 92.0 91.0 No flaring penalties…
  5. Q1 2009 EARNINGS CALL – Bw Offshore – slide 5
    BW Cidade de So Vicente Petrobras Tupi/Brazil First production test unit at prolific, sub-salt Tupi field in 2,200 meters of water depth Unit arrived at the Tupi field in March, in line with the original schedule Operations…
  6. Q1 2009 EARNINGS CALL – Bw Offshore – slide 6
    BW Pioneer Petrobras Cascade & Chinook/US GoM First development with disconnectable solution in prolific, sub-salt area, 2,600 m water depth Conversion progress in line with expectations, current progress 70% Installed and…
  7. Q1 2009 EARNINGS CALL – Bw Offshore – slide 7
    FPSO fleet overview 2007 2010 2015 2020 2025 Sendje Berge Nigeria: Addax 2011 (2013) Berge Helene Mauritania: Petronas 2013 (2021) Yum KakNab Mexico: Pemex 2022 (2025) BW Cidade de So Vicente Brazil: Petrobras 2019 (2024) BW…
  8. Q1 2009 EARNINGS CALL – Bw Offshore – slide 8
    Q1 2009 TECHNOLOGY & INSTALLATION 19 May, 2009 9
  9. Q1 2009 EARNINGS CALL – Bw Offshore – slide 9
    Project execution on track 2007 2008 2009 2010 2011 Production systems Maari (STP) Nexus I (STP) Montara (STP) Chinook Cascade (STP) Peregrino (STP) Tupi (ETP) Pazflor OLS (BTL) Terminal systems H2263 (LNG 5) H2270 (LNGRV 6) H2271…
  10. Q1 2009 EARNINGS CALL – Bw Offshore – slide 10
    Backlog of USD 269 million 450 400 350 300 250 200 150 100 50 0 Q1'06 Q2'06 Q3'06 Q4'06 Q1'07 Q2'07 Q3'07 Q4'07 Q1'08 Q2'08 Q3'08 Q4'08 Q1'09 19 May 2009 11
  11. Q1 2009 EARNINGS CALL – Bw Offshore – slide 11
    Q1 2009 FINANCE 19 May, 2009 12
  12. Q1 2009 EARNINGS CALL – Bw Offshore – slide 12
    Comments to the figures EBITDA of USD 28.5 million, adjusted for share of profit from associates USD 7.3 million gain on fx hedges USD 39.5 million loss on Nexus Floating Production Book value of Nexus investment to zero by 31 March…
  13. Q1 2009 EARNINGS CALL – Bw Offshore – slide 13
    Floating Production Solid operational and financial performance from all units Evaluating alternatives for Disposal of Berge Okoloba Toru Employment of BW Carmen USD million Q1 09 Q4 08 Q1 08 2008 Operating revenue 44.6 55.8 43.7…
  14. Q1 2009 EARNINGS CALL – Bw Offshore – slide 14
    Technology & Installation Activity level remains high due to solid order book EBITDA margin 15.5% Share of profit from associates negatively influenced by Nexus Floating Production USD million Q1 09 Q4 08 Q1 08 2008 Operating revenue…
  15. Q1 2009 EARNINGS CALL – Bw Offshore – slide 15
    Income statement USD million Q1 09 Q4 08 Q1 08 2008 Operating revenue 99.3 126.4 108.3 474.3 Operating expenses -70.8 -111.7 -101.7 -433.8 Share of profit from associates -39.2 -45.4 9.2 -45.7 Impairment charge of associates 0.0 -12.5…
  16. Q1 2009 EARNINGS CALL – Bw Offshore – slide 16
    Balance sheet Equity ratio 39.4% (43.1% adjusted for CIRR financing*) Net interest bearing debt USD 709.1 million USD million 31.03.09 31.03.08 31.12.08 Total non-current assets 1,943.4 2,756.9 1,962.7 Total current assets 322.9 315.2…
  17. Q1 2009 EARNINGS CALL – Bw Offshore – slide 17
    Cash and facilities Cash at 31 March 2009 USD 60.2 million 1500 1250 Remaining FPSO/FSO capex is USD 250 million 1000 per 31 March 2009, including 750 500 Conversion of BW Pioneer and BW Cidade de So Vicente 250 New upgrades for…
  18. Q1 2009 EARNINGS CALL – Bw Offshore – slide 18
    Q1 2009 OUTLOOK Q1 2009 OUTLOOK 19 May, 2009 19
  19. Q1 2009 EARNINGS CALL – Bw Offshore – slide 19
    Market FPSO - active 35 Good number of opportunities in the 30 market 25 Significant reduction of competitors 20 Historically highest number of 15 prospects being worked 10 5 Oil companies attracted to top tier 0 players…
  20. Q1 2009 EARNINGS CALL – Bw Offshore – slide 20
    Focus Operations EBITDA improvement from existing units FPSOs to commence operation in 2009 and 2010 Costs Selective bidding Project returns 19 May 2009 21
  21. Q1 2009 EARNINGS CALL – Bw Offshore – slide 21
    19 May 2009 22

From the store

Browse maps, data & reports in the Shale Experts store