Investor Presentation November 12, 2014 Mark L. Mey Sr. Vice President and CFO Atwood Oceanics, Inc. Atwood Advantage 1
Investment Thesis 3
Atwood Oceanics Investment Thesis Modern, high quality rig fleet 6 UDW floaters and 3 high-specification jackups delivered 2011-2016 Bifurcation favors young fleet and supports financial sustainability Industry-leading operations…
Modern, High Quality Fleet - 4.5 billion Investment in Expanding our High Specification Rig Fleet 2015 EBITDA: Approximately 76%1 derived from UDW floaters and Atwood Mako high specification jackups Atwood Manta Atwood…
Modern, High Quality Fleet - Bifurcation Why the New Rigs will Rule A-Class Typical 5th Atwood Advantage Specification Drillship Gen Drillship Max Water Depth (Ft) 12,000 10,000 Max Drilling Depth 40,000 35,000 (Ft) Variable…
Modern, High Quality Fleet - Revenue-weighted Age of Fleet 'Revenue Weighted Age' of Fleet DO RIG ESV RDC NE PGN NE (ex PGN) ATW 35 30 Fleet Age (Years) 25 20 15 10 5 0 4Q10 2Q11 4Q11 2Q12 4Q12…
Industry-Leading Operations Performance and Financial Returns - Achieving Top-Tier Execution Value Drivers Revenue Cost Project Key Enablers Efficiency Control Management - Centralized maintenance and technical support 2011 -…
Industry-Leading Operations Performance and Financial Returns - Net Income Margin trailing 8 quarters 35% 31% 30% 29% 28% 25% 20% 19% Peer Group Average: 16% 18% 17% 16% 15% 10% 9% 6% 5% 2% 0% Source: SEC Financials…
Industry-Leading Operations Performance and Financial Returns - Return on Capital Employed 16% 14% 14% 12% 11% 11% 10% 10% 10% 10% 9% 9% 9% 9% 8% 8% 8% 7% 6% 5% 4% 2% 0% RIG NE RDC ESV *SDRL DO ATW 2014 2015…
Recent Accomplishments Atwood Advantage delivered - December 2013 Atwood Aurora: 1-year contract extension - February 2014 Expanded and extended Revolving Credit Facility - April 2014 Atwood Orca: 9-month contract extension - May…
Market Snapshot - Floater and Jackup Markets Ultra-Deepwater Deepwater High-Spec Jackups E&P focus on returns and dividends resulting DW rig fleet challenged by Day rates starting to weaken, in a slowdown of contract awards…
Earnings Visibility, Predictability and Built-in Growth - Steady Revenue and Earnings Growth: 2008 - 2014 Revenue Net Income Millions Millions 2,000 600 500 1,600 1,174 400 1,200 341 300 272 787 257 800 215 651 200 527…
Earnings Visibility, Predictability and Built-in Growth - Revenue Backlog Analysis as of November 1, 2014 Millions By Year By Customer Type 1,400 1,200 1,285 1,000 1,127 0.9BN 0.9BN 800 600 400 480 1.1BN 200 -…
Earnings Visibility, Predictability and Built-in Growth - Planned Capital Expenditures Fully Financed Millions 1.1 billion1 in remaining total 900 capital expenditures as of November 1, 2014 Approximately 1.5 billion in…
Summary 17
Atwood Investment Thesis Fleet Age and Quality Backlog and Cash Flow Visibility Strong Balance Sheet with Significant Liquidity Revenue, Net Income and Dividend Growth Operational Excellence and Cost Control Lead to Best in…
Thank You Atwood Achiever Naming Ceremony May 30, 2014 www.atwd.com www.atwd.com 19
Loading...
