Executive Summary Q2 2012 EPS of 0.42 per diluted share compared with 0.62 per diluted share in Q1 2012 o Impairment charge of 14.6 million (9.5 million, 0.09 per share after-tax) taken to reduce the book value of the Intrepid to its…
Executive Summary Oil and Gas (continued) o Avg realized price for oil of 107.51 / Bbl (109.18 / Bbl in Q1 2012), inclusive of hedges o Avg realized price for gas of 5.76 / Mcfe (5.82 / Mcfe in Q1 2012), inclusive of hedges Gas…
Operational Highlights 8
Contracting Services ( in millions, except percentages) Quarter Ended Extended dry docks for Q4000 and 6/30/2012 6/30/2011 3/31/2012 Seawell Revenues (A) Intrepid dockside most of May and entire month of June; preparing for cold…
Contracting Services Well Ops GOM Q4000 entered dry dock in early March, completed sea trials and returned to service second week in May Only 45% utilization in Q2 Substantial backlog through 2013 and extending into 2014 North…
Contracting Services Robotics 92% chartered vessel utilization, 79% trencher utilization and 67% ROV utilization in Q2 Chartered two spot vessels in addition to utilizing the Deep Cygnus and Island Pioneer on trenching projects…
Contracting Services Subsea Construction Near full utilization for Caesar and Express vessels in Q2 Express had 93% utilization in Q2 offshore Israel working for Noble Energy Intrepid was idle for most of Q2 and is currently…
Oil & Gas Financial Highlights ( in millions, except production and price data) Quarter Ended 6/30/2012 6/30/2011 3/31/2012 (A) Second quarter 2012 and 2011 decommissioning overruns (ARO increases) related to our only Revenue 150…
Oil & Gas Operating Costs ( in millions, except per Boe data) Quarter Ended 6/30/2012 6/30/2011 3/31/2012 Total / Boe Total / Boe Total / Boe DD&A (A) 40 23.54 52 24.82 48 23.67 Operating and Other: (B) Operating Expenses 27…
Summary of July 2012 Dec 2013 Hedging Positions * Total Volume Pricing Swap Average Collar Price Oil (Bbls) Collars Swaps Hedged Basis Pricing Floor Ceiling 2012 450,000 - 450,000 WTI - 96.67 118.57 2012 594,500 579,500 1,174,000…
Debt Maturity Profile Total funded debt of 1.2 billion at end of Q2 Maturity Profile 2012 consisting of: ( amounts in millions) o 358 million Convertible Senior Notes 3.25%(A) 500 477 (321 million net of unamortized debt…
2012 Outlook 21
2012 Outlook 2012 Outlook 2012 Outlook Broad Metrics 2011 Actual (revised) (original) Oil and Gas 7.0 MMboe 7.5 MMboe 8.7 MMboe Production EBITDAX 600 million 600 million 669 million CAPEX 635 million 445 million 229…
2012 Outlook Contracting Services o Strong backlog for the Q4000, Well Enhancer and Seawell through 2013 Q4000 building backlog into 2014 o Intrepid in process of being cold stacked, thus foregoing its scheduled regulatory dry dock…
2012 Outlook Oil and Gas o Forecasted 2012 overall production of approximately 7.0 MMboe, including Danny II (Bushwood field) expected to commence in Q4 (oil / liquids) Previously drilled Nancy gas well (Bushwood field) now…
2012 Outlook - Capex Capital Expenditures o Contracting Services (435 million) Announced new build semi submersible intervention vessel (approximately 130 million of capex in 2012) Approximately 63 million incurred thru Q2 Agreed…
Non-GAAP Reconciliations 26
Non-GAAP Reconciliations ( in millions) Quarter Ended Six Months Ended 6/30/2012 6/30/2011 3/31/2012 6/30/2012 6/30/2011 Net income applicable to common shareholders 45 41 66 110 67 Non-cash impairments 15 12 -- 15 12 Loss (gain)…
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