Company Overview Market Overview Value Creation Financial Flexibility Capital Investment Dividend Litigation Update 33
Company Overview Industry Leader Premier position in ultradeepwater market segment Largest fleet of high spec and midwater floaters Operates in most major markets worldwide Technical leader Significant relationships across…
5
Company Overview Strong Backlog Total Backlog From Continuing Operations 26.1 billion(4) 6
Company Overview Diversified Revenue Sources By Asset Class By Customer 11% 12% 30% 18% 35% 51% 2% 35% 6% UltraDeepwater Deepwater Harsh Environment Integrated NOC Independent Midwater HighSpec Jackups Other…
Company Overview Committed Fleet (5) 8
Market Overview Ultra-Deepwater New Field Resources Discovered Exploration success indicates (by Water Depth) Volume Discovered (billion boe) of Discoveries significant longterm ultra 18 16 180 deepwater demand 14 12 160 140…
Market Overview Other Floaters, Jackups Deepwater Midwater HighSpec Jackups Discoverer Seven Seas GSF Rig 140 Transocean Honor Nearterm increase in rig Strong presence in the UK and Demand and dayrates are availability Norway…
Value Creation 800 million margin expansion Financial Transocean Partners LLC Flexibility Divest non-core assets Debt reduction Shareholder Value Dividend - 3.00/sh Return of Capital Building 14 high- spec rigs; seven are…
Manage financial exposure Sustain investment grade rating while renewing the fleet Progress towards gross debt targets Transocean Partners LLC remains on track Continue to divest noncore assets Since 2011 have divested 63 noncore…
Completed Program: 16 HighSpec Rigs 2009 20102012 2013 Americas Inspiration Andaman Clear Leader KG2 Siam Driller KG1 India Ao Thai Petrobras 10000 Luanda DD III Champion Barents Honor Spitsbergen Current Program: Nine UDW…
High-Grading of Fleet Offshore Rigs Floaters Floaters Rigs at risk of Potential newbuilds displacement Longterm growth in deepwater 215 500 Lower spec rigs at risk 110 120 298 160 floaters are 30+ years old Customers prefer…
Strategic imperative to highgrade the fleet through consistent investment in highspecification floaters and jackups Fleet renewal options include Acquire existing, highspecification rigs Build highspecification, contractbacked rigs…
Current Fleet Future Fleet Existing Under Total construction Ultra-deepwater 27 +9 36 Ultra-deepwater 50% Floaters Deepwater 12 12 Deepwater Midwater 21 21 Midwater Harsh Environment 7 7 Harsh Environment 10% Jackups…
Average annual capital investment required to renew fleet estimated 1.52.0 billion Will be opportunistic Investment will likely vary year to year Funding sources include Operating cash flow Transocean Partners LLC Asset sales…
Dividend yield is very competitive (%) Indicated Dividend Yield (Average of Peer Groups) 10.0 8.0 6.9 6.0 4.0 3.6 3.5 2.2 2.0 1.3 0.7 0.6 - RIG 2014 Floating Storage, Offshore Drillers Offshore Land Drillers…
Norway Tax Cases Criminal trial Favorable court ruling July 2014; all defendants acquitted of all charges; prosecution authorities filed appeal Dividend civil case Norwegian District Court ruled partially in favor of State in June…
We are delivering on our commitment to create value Improving financial flexibility Executing plan to highgrade the fleet Returning excess cash to shareholders To the extent possible, reducing uncertainties the company faces…
Loading...
