Seadrill Second Quarter Call Agenda Highlights 2Q 2013 Contract backlog Market outlook Dividend policy Summary 2Q 2013 financial accounts Seadrill North Atlantic Drilling Q&A 3
Financial Performance Highlights Seadrill generates a record EBITDA of Quarterly EBITDA US665 million for the second quarter 2013 Economic utilization for our floaters increased to 94 percent, up from 92 percent in the first…
Highlights & Subsequent Events Second Quarter 2013 Ordered two high specification jack-ups for US230 million per rig Secured a three-year contract for the newbuild drillship West Neptune with a total estimated revenue potential of US662…
Global Operational Footprint Americas North Atlantic 7 units North Atlantic 7 units London Canada - 4 HE Semis - 1 Semi - 2 HE Jack-ups - 1 Drillship Gulf of Mexico -3 Semis Gulf of Mexico Middle East South America Asia Pacific - 3…
Modern Fleet & High Exposure to Premium Segments One of the largest Offshore Drillers with a Modern Fleet and Exposure to Premium Segments 1 Ultra-Deepwater Units 2 Average Floater Age 3 % Ultra-Deepwater of Total Floaters % of…
Jack-ups - US3.1 Billion Contract Backlog Contracted Uncontracted 1% 2013 99% 33% 2014 67% 48% 2015 52% 52% 2016 48% Note: Backlog generated by the tender rigs (T15, T16 and West Vencedor) is US0.5…
Orderbacklog US19 bn US Millions 5.6 BP 25% A Total 14% AA- 4.7 4.1 Exxon 11% AAA Statoil 9% AA- 3.2 2.9 Petrobras 7% BBB Husky 6% BBB 1.4 Tullow 6% - Others 23% - High Quality Customer Base & Dividend…
Market Outlook Market Outlook 11
Production Growth to Come From Deepwater Source: EIA, ODS Petrodata 12
UDW Replacing Aging Deepwater Fleet 16% of the Ultra-Deepwater Fleet is Operating in Ultra-Deepwater Source: ODS Petrodata 13
New Equipment Commanding Higher Dayrates Ultra-Deepwater Floaters Jack-ups 350 Water Depth Customers Demand Better Performance and Safety of New Equipment Source: ODS Petrodata 14
Operational Excellence Translates to Pricing Power Total Floater Utilization Deepwater and Ultra-Deepwater Fixtures Seadrill Average Market Average Source: ODS Petrodata 15
Dividend Policy Key objective to distribute quarterly dividends Quarterly cash dividend resolved at 91 cents per share Increase reflects improved free cash flow and newbuilds commencing operation this year Future dividends…
Summary Industry Leading Growth 4.5 Billion in 2016 Annualized EBITDA 17
Financial Performance Highlights This quarter Previous quarter EBITDA US665 m US713 m Earnings per share US3.68 US0.87 Operating profit US507 m US552 m Financial items and other income US1,292 m US(68) m Cash flow from…
EBITDA Contribution 20
Operating Income - Floaters Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Operating revenues 805 757 700 674 Reimbursables 97 43 63 22 Other revenues 8 7 1 3 Total operating revenues 910 807 764 699 Gain on sale of assets - -…
Operating Income Jack-up Rigs Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Operating revenues 262 256 233 203 Reimbursables 10 15 14 5 Other revenues 1 (2) 0 0 Total operating revenues 273 269 247 209 Gain on sale of assets -…
Operating Income Tender Rigs Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Operating revenues 78 182 193 178 Reimbursables 3 6 7 6 Other revenues 4 2 2 (1) Total operating revenues 85 190 202 183 Gain on sale of assets - - -…
Operating Income Total Seadrill Limited Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Operating revenues 1,145 1,195 1,126 1,056 Reimbursables 110 64 85 33 Other revenues 13 6 3 2 Total operating revenues 1,268 1,265 1,215…
Net Income Total Seadrill Limited Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Net operating income 507 552 441 413 Financial items and other income Interest income 6 4 11 5 Interest expense (96) (108) (91) (102) Share in…
Balance Sheet - Assets June March December Unaudited accounts in USD millions 30, 2013 31, 2013 31, 2012 Current assets Cash and cash equivalents 437 328 318 Restricted cash 224 174 184 Marketable securities 936 314 333 Accounts…
Balance Sheet Liabilities & Shareholders Equity June March December 30, 2013 31, 2013 31, 2012 Current liabilities Current portion of long-term debt 2,873 2,598 2,066 Trade accounts payable 66 58 72 Current liabilities associated…
Non-financial highlights New sale and leaseback transactions for West Linus with Ship Finance securing gross proceeds of US600 million in long-term financing. Extension of contract and new contract for West Navigator with Shell and…
Financial reporting highlights This quarter Previous quarter EBITDA US132 m US135 m Earnings per share US0.281 US0.240 Operating profit US87 m US92 m Financial items US(15) m US(30) m Cash flow from operating activities…
Operating Income - Total Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Operating revenues 280 272 241 244 Reimbursables 95 46 42 17 Total operating revenues 375 318 283 261 Vessel and rig operating expenses 137 125 89 86…
Net Income - Total Unaudited accounts in USD millions 2Q13 1Q13 4Q12 3Q12 Net operating income 87 92 98 106 Financial items Interest expense (21) (19) (22) (19) Gain / (loss) on derivatives 9 (6) 2 (4) Other financial items (3) (5) 1…
Balance Sheet - Assets June March December 30, 2013 31, 2013 31, 2012 Current assets Cash and cash equivalents 180 120 98 Restricted cash 23 19 24 Accounts receivables, net 255 225 212 Related party receivables 13 142 243 Deferred tax…
Balance Sheet Liabilities and Shareholders Equity June March December 30, 2013 31, 2013 31, 2012 Current liabilities Current portion of long-term debt 167 167 167 Related party transaction 12 11 47 Tax payable 8 48 71 Deferred taxes…
Core Assets 28 Ultra-deepwater units built after 2000 2 Midwater semi-submersible rigs 28 High-specification jack-up rigs built after 2005 3 Harsh environment Jack-ups 3 Tender Rigs Financial Investments 12% of SapuraKencana…
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