3Q 2012 Earnings Presentation October 24, 2012 Presenter: Anthony G. Petrello Chairman, President & Chief Executive Officer
Macro Outlook Lower Oil & NGL Pricing Affecting Customers Cash Flows & Budgets 120 6 Oil prices down 11% since Jan 2012 and flat since Jan 2011 100 5 80 4 Nat Gas prices up 14% since Jan 2012 but down 26% since Jan 2011 60…
US Land Rig Count Down 201 rigs from Nov 2011 peak, 123 in Q3, 175 YTD US Land Rig Count (2003 - Current) 2500 2000 1500 1000 500 0 1/3/2003 1/3/2004 1/3/2005 1/3/2006 1/3/2007 1/3/2008 1/3/2009 1/3/2010 1/3/2011…
US Land Rig Count Oil rig count flat, Gas rig count pulling Horizontal count down 1,600 1,400 Oil 1,200 1,157 1,114 Horz 1,000 800 600 400 Gas 11/4/2011 1/4/2012 3/4/2012 5/4/2012 7/4/2012 9/4/2012 Oil Gas Horz…
Agenda Key Technologies Priority Areas Drilling & Rig Services Overview Completion & Production Services Overview Summary 6
Key Technologies 7
Introducing the PACE-X Omni-directional walking system allows the rig to skid on both the X and Y axis Side Saddle substructure features 16 ft. wide by 26 ft. tall clearance which optimizes batch drilling while allowing the rig to…
Reorganization Vision & Update Two business lines Drilling & Rig Services Completion & Production Services Geographic operations management structure Centralized product line management Centralization of key support functions…
Divestiture Update Completed: Timing Value Peak USA 1Q12 14 MM Sales Process Progressing: Peak Oilfield Services 4Q12 TBD Blue Sky / Airborne 4Q12 TBD On Hold or Withdrawn: of Rigs US GOM Jackup Rigs 5 US GOM Barge Rigs 5…
Divestiture Update: Oil & Gas Properties Completed: Timing Value California Sale 4Q11 72 MM Austin Chalk 1Q12 4 MM Colombia Sale 2Q12 73 MM Miscellaneous 2Q12 5 MM Miscellaneous 3Q12 7 MM Total 161 MM Sales Process Progressing:…
Balance Sheet Management Targeted Net Debt Reduction 40% 25% by EOY 2013 Actual Targeted(4) (MM's) 1Q12 2Q12 3Q12 EOY 2012 EOY 2013 Total Debt 4,773 4,674 4,679 4,632 3,741 Cash and ST Investments 494 455 620 620 620 Net Debt 4,279…
Nabors Global Infrastructure Operating Income (MMs) 1Q12 2Q12 3Q12 US Lower 48 132 127 115 US Offshore 8 10 (4) Alaska 27 9 4 Canada 49 (4) 23 International 21 16 30 Rig Services 30 28 16 Drilling & Rig Services Total 267…
Drilling & Rig Services 16
Drilling & Rig Services Adjusted Income (Loss) Derived from Operating Activities (Ms) 3Q11 4Q11 1Q12 2Q12 3Q12 Drilling & Rig Services: US Lower 48 104,877 130,114 131,581 126,532 114,884 US Offshore 2,457 3,422 7,732 9,924…
Global Rig Fleet Details AC SCR Mech Total Moving Systems Alaska 4 12 3 19 13 Lower 48 152 115 40 307 93 Canada 21 20 33 74 17 International 34 63 34 131 49 Offshore 6 51 2 59 n/a Total 217 261 112 590 172 As of 9/30/12 including…
Lower 48 Working Rigs by Region and Play 52 14 10 3 14 Working 26 Basin Rigs 17 4 Marcellus 10 29 Haynesville 22 Bakken/Rockies 66 Eagle Ford 29 Permian 17 Barnett 4 Granite Wash 7 Other 14 Total Lower 48 Working…
Lower 48 Newbuild Deployments 16 14 As of Sept. 30, 2012, 142 Newbuilds deployed since 2005. 10 additional 12 to be deployed by first half of 2013. 10 8 6 4 2 0 2Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q…
Drilling & Rig Services US Lower 48 Term Contracts in Force at September 30, 2012 Quarter End Number Of Rigs Subject To Term Contracts(1) 3Q12 4Q12 1Q13 2Q13 3Q13 As of 2Q 2012 128 87 74 65 57 As of 3Q 2012 135 99 84 72 62…
Canada Rig Fleet Details AC SCR Mech Total Moving Systems Canada 21 20 33 74 17 Rigs by Power Type Rigs with Moving Systems 28% 23% 45% 27% 77% AC SCR Mech Moving Systems Non-Moving Rigs with Top Drives Since 2005…
Canada Working Rigs by Play Play AC SCR Mechanical Walking Rigs Workover Rigs Montney 4 5 3 2 Duvernay (NW Alberta) 1 7 1 2 32 Cardium (Central 10 34 Alberta) Saskatchewan 1 3 4 Oil Sands 3 2 5 4 Horn River 2 1 Total 9 16 14…
International Land Working Rigs 4 1 2 1 6 2 6 32 5 11 5 3 2 10 4 1 6 17 Algeria 6 India 4 Malaysia 2 Russia 4 Argentina 17 Iraq 6 Mexico 11 Saudi Arabia 32 Colombia 10 Jordan 1 Oman 5 Venezuela 5 Congo 2…
International Land Fleet Details AC SCR Mech Total Moving Systems International 34 63 34 131 49 Rigs by Power Type Rigs with Moving Systems 26% 26% 38% 62% 48% AC SCR Mech Moving Systems Non-Moving Rigs with Top Drives…
Completion & Production Services 27
Completion & Production Services Adjusted Income Derived from Operating Activities (Ms) 3Q11 4Q11 1Q12 2Q12 3Q12 Completion & Production Services: Completion Services 65,052 76,470 64,860 46,144 47,218 Production Services 22,839…
Outlook Short term challenging, but long term promising Global footprint provides opportunity for expansion of service offerings Significant efficiency and consolidation savings Lowering leverage Generating substantial free…
Ancillary Information 33
Nabors Global Infrastructure Margins and Activities 1Q12 2Q12 3Q12 Drilling Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs US Lower 48 10,942 219.0 11,178 217.9 12,030 193.8 US Offshore 19,630 11.9 18,729 14.0 8,634…
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