Q4 2012 EARNINGS CALL – Nabors Industries Ltd.

Nabors Industries Ltd. · Feb 20, 2013 · 34 slides

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4Q 2012 Earnings Presentation February 20, 2013 Presenter: Anthony G. Petrello Chairman, President & Chief Executive Officer
2 0 1 2 H i g h l i g h t s Rig: PACE-X1 at Crosby Yard 3
Consolidated Results: Record Operating Revenue, Gross Margin, EBITDA 8 Operating Revenue Gross Margin EBITDA 7 6 5 4 3 2 1 0 2006 2007 2008 2009 2010 2011 2012 ( Billions) 2.5 EBITDA Total Capex Net Operating Cash Flow 2.0…
Debt Reduction Through Net Operating Cash Flow and Asset Sales Reduced Net Debt by 678 million from 1Q12 high 2012 Operating Cash Flow less Capital Expenditures = 550 million (MM's) 3/31/12 12/31/12 Change Total Debt 4,773 4,380…
Improved Capital Discipline in 2012 34% year over year reduction in Capex Deployed 25 new builds in U.S. Lower 48 Signed 21 contracts, bringing the total PACE-X commitments to be delivered in 2013 to 17 Capital Expenditures (MMs)…
Awarded 9 new contracts Innovative PACE-X Rig 17 total PACE-X rigs to be delivered in 2013 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…
Best Safety Performance In Company History Reduced Total Recordable Incidence Rate (TRIR) by 29% Approximately 100 million spent on safety training and safety related equipment annually 2011 2012 Change Total Recordable Incidence…
Expanded and Extended Bank Facilities (MMs) 2011 2012 Revolver Capacity 1,400 1,500 Drawn Amount 860 890 Revolver Liquidity 540 610 2011 (Prior Facility) 2012 (New Facility) Revolving Facilities Revolving Facilities 1.4 billion…
Earliest Debt Maturity is 2018 (MMs) 2011 2012 Change 275M Sr. Notes 275 0 (275) 975M Sr. Notes 6.15% due 2018 968 969 1 1.125B Sr. Notes 9.25% due 2019 1,125 1,125 700M Sr. Notes 5% due 2020 697 698 1 700M notes 4.625% due 2021 698…
Update on Strategic Objectives Improving balance sheet quality and flexibility Streamlining the business Enhancing operational excellence Driving technology and innovation Strengthening customer alignment 11
Nabors Global Infrastructure Operating Income (MMs) 1Q12 2Q12 3Q12 4Q12 U.S. Lower 48 132 127 115 95 U.S. Offshore 8 10 (4) (14) Alaska 27 9 4 2 Canada 49 (4) 23 28 International 21 16 30 23 Rig Services 30 28 16 5…
Drilling & Rig Services 13
Drilling & Rig Services Adjusted Income (Loss) Derived from Operating Activities (Ms) 4Q11 1Q12 2Q12 3Q12 4Q12 Drilling & Rig Services: U.S. Lower 48 130,114 131,581 126,532 114,884 94,719 U.S. Offshore 3,422 7,732 9,924 (3,650)…
Global Rig Fleet Details AC SCR Mech Total Moving Systems Alaska 5 12 3 20 13 Lower 48 155 98 27 280 139 Canada 16 21 29 66 20 International 31 64 31 126 49 Offshore 6 44 2 52 n/a Total 213 239 92 544 221 Rigs by Power Type Global…
Fleet Retirements Retirements Fleet as of Fleet as of Active Inactive 9/30/12 12/31/12 Drilling & Rig Services U.S. Lower 48 Land Rigs 298 (35) 263 International Land Rigs 130 (4) (11) 126 Canada Land Rigs 73 (4) (10) 65…
Versatile Fleet of Newbuilds PACE-F Rig PACE-M Rig 27 built since May 2006 57 built since Dec. 2006 550 kip hookload 1000 kip hookload capacity capacity 300, 350, or 400 kip 600 kip setback capacity setback capacity Working in:…
Lower 48 Working Rigs by Region and Play 52 14 11 3 16 Working 21 Basin Rigs 19 3 Marcellus 11 29 Haynesville 18 Bakken/Rockies 66 Eagle Ford 29 Permian 19 Barnett 3 Granite Wash 7 Other 15 Total Lower 48 Rigs on…
Lower 48 Newbuild Deployments 16 14 As of Dec. 31, 2012, 144 Newbuilds 12 deployed since 2005. 17 additional to be deployed by the end 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 2Q…
Lower 48 Pad Capable Rigs Nabors currently has 1/3 of NBR industry pad capable rigs Skid, and 1/3 of its walking rigs 25 NBR Walking, 61 Industry Skid, 65 Industry Walking, 112 Pad Capable NBR 5% Non-Pad Capable 84%…
Drilling & Rig Services US Lower 48 Term Contracts in Force at December 31, 2012 Added 10 contracts in 4Q net of expirations Quarter End Number Of Rigs Subject To Term Contracts(1) 4Q12 1Q13 2Q13 3Q13 4Q13 3Q 2012 99 84 72 62 58…
Canada Rig Fleet Details AC SCR Mech Total Moving Systems Canada 15 21 29 65 17 Rigs by Power Type Rigs with Moving Systems 23% 23% 45% 32% 77% AC SCR Mech Moving Systems Non-Moving Rigs with Top Drives Since 2005…
Canada Drilling Canada Rig Year Seasonality 60 50 40 30 20 10 0 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 Canada Rig Years 4Q rig count lower than…
Canada Working Rigs by Play Play AC SCR Mechanical Walking Rigs Workover Rigs Montney 4 3 1 5 2 Duvernay (NW Alberta) 36 Cardium (Central 2 10 15 2 37 Alberta) Saskatchewan 3 1 9 Oil Sands 3 2 4 8 Horn River 1 2 2 0 Total 10…
International Land Working Rigs 4 1 2 1 6 2 5 32 5 11 5 3 2 10 5 1 6 2 1 17 Algeria 5 Ecuador 6 Kuwait 2 Romania 1 Angola 1 India 5 Malaysia 2 Russia 4 Argentina 17 Iraq 6 Mexico 11 Saudi Arabia 32 Colombia 10…
International Land Fleet Details AC SCR Mech Total Moving Systems International 31 64 31 126 49 Rigs by Power Type Rigs with Moving Systems 25% 24% 39% 61% 51% 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) 4Q11 1Q12 2Q12 3Q12 4Q12 Completion & Production Services: Completion Services 76,470 64,860 46,144 47,218 30,296 Production Services 24,237…
Completion & Production Services Fleet Frac Frac Region Rigs Trucks CTU Cementing Wireline Additional Equipment Crews Tanks Western 181 106 99 15 12 P&A Rigs, Foam Units Rockies 69 10 56 323 2 9 10 P&A Rigs, Pumps, Swivels Mid-Con 36…
Fleet Retirements Retirements Fleet as Fleet as Active Inactive Other of of 9/30/12 12/31/12 Completion & Production Services U.S. Lower 48 W/O & Well 504 (62) (71) 442 Servicing Rigs U.S. Lower 48 Trucks 1,043 (36) (50) 24…
Stimulation Fleet Contract Detail Region of Crews TSA Spot Idle Oil/Liquids Dry Gas 24 Hr. Rockies 10 7 3 10 6 Mid-Con 1 1 1 Northeast 4 1 3 2 2 3 West Texas 3 1 1 1 3 1 South Texas 3 2 1 3 3 Ark-La-Tex 3 3 3 Canada 2 2 2 Total…
Production Services Rates and Hours Workover & Well Servicing Rigs Rates and Hours 580 900,000 540 800,000 500 700,000 460 600,000 420 380 500,000 2009 2010 2011 2012 Rig Hours Rig Rate Fluid Hauling Trucks Rates and Hours…
Summary 33
Ancillary Information 34
Nabors Global Infrastructure Margins and Activities 4Q11 3Q12 4Q12 Drilling Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs US Lower 48 10,922 216.7 12,030 193.8 12,363 172.7 US Offshore 17,250 10.0 8,634 12.8 (428)…

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