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Pareto Oil & Offshore Conference – Seadrill Limited

Seadrill Limited · Sep 11, 2014 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Pareto Oil & Offshore Conference – Seadrill Limited – slide 1
    Pareto Oil & Offshore Conference CFO Rune Magnus Lundetrae September 2014
  2. Pareto Oil & Offshore Conference – Seadrill Limited – slide 2
    Record Breaking Earnings Quarterly EBITDA (proforma consolidated) 865 900 Seadrill Group generates consolidated 800 768 788 713 EBITDA of US865 million for the second 700 665 663 634 612 604 quarter 2014 600 573 579 575 595…
  3. Pareto Oil & Offshore Conference – Seadrill Limited – slide 3
    Contract Wins = Increased Dividend Visibility West Jupiter 5 Years 567 in Nigeria Backlog: US1.04 billion West Saturn 2 Years 633 in Nigeria Backlog: US0.46 billion Rosneft Contracts 30 Rig Years 5 Year Contracts for 5…
  4. Pareto Oil & Offshore Conference – Seadrill Limited – slide 4
    Robust Backlog & High Quality Customers Seadrill Group Current Backlog Seabras Sapura Participacoes US23.3 billion 7,000 6,000 5.6 4.7 5,000 4.1 US Millions 4,000 3.2 2.9 3,000 50% of US3.8 billion 2,000 1.4…
  5. Pareto Oil & Offshore Conference – Seadrill Limited – slide 5
    Financial performance highlights Seadrill Strategy Appendix: Seadrill Limited Financials 6
  6. Pareto Oil & Offshore Conference – Seadrill Limited – slide 6
    Remember What They Said. Where did we go from here 7
  7. Pareto Oil & Offshore Conference – Seadrill Limited – slide 7
    The Worlds Leading Drilling Company 80 50 69 45 70 40 60 Seadrill 35 Group 50 30 Share Price (US) Number of Rigs 40 25 20 30 15 SDLP NADL Sevan AOD SeaMex 20 51.1% 70.4% 50.1% 66.2% 50.0% 10 10…
  8. Pareto Oil & Offshore Conference – Seadrill Limited – slide 8
    Strongest Fleet Profile in the Industry % of Floaters Built Before 2000 Free and Clear Floater Availability Until End of 2016 80 70 81% 79% 74% 60 64% 63% 62% 50 63% 40 42 38% 30 28% 20 22 7 20 11 1 10 11 12 3% 6…
  9. Pareto Oil & Offshore Conference – Seadrill Limited – slide 9
    Financial performance highlights Upstream & Drilling Market Outlook Appendix: Seadrill Limited Financials 10
  10. Pareto Oil & Offshore Conference – Seadrill Limited – slide 10
    Recent Discoveries to Become Produced Volumes Discovered resources 1980 to 2013 160,000 120,000 (millions boe) 80,000 40,000 - 1980 1985 1990 1995 2000 2005 2013 Shelf Deep/Mid Water Ultra deepwater Resources…
  11. Pareto Oil & Offshore Conference – Seadrill Limited – slide 11
    Margin Drives Long Term Investments 100 Arctic 75 90 NAm Shale Onshore 80 Onshore RoW Deepwater Offshore Russia 70 Shelf 60 65 50 Onshore 50 51 52 40 Middle East 41 30 27 Oilsands 20 70 Heavy Oil Ultradeepwater 10…
  12. Pareto Oil & Offshore Conference – Seadrill Limited – slide 12
    Preferential Demand for Newer Rigs Contract Backlog UDW & DW Operating Water Depth 14,000 12% 12,000 10,000 Backlog months 41% 8,000 6,000 4,000 47% 2,000 10 Above 7,500 ft 4,500 - 7,499 ft Below 4,500 ft…
  13. Pareto Oil & Offshore Conference – Seadrill Limited – slide 13
    Jack-Up Market Fundamentals Jack-up Fleet Age Jack-up Delivery Schedule 250 70 60 200 50 Number of Rigs 150 40 100 30 20 50 10 0 0 30 years 20 and 30 10 and 20 5 and 10 < 5 years 2014 2015 2016 2017 years years…
  14. Pareto Oil & Offshore Conference – Seadrill Limited – slide 14
    Financial performance highlights Funding Strategy & Outlook Appendix: Seadrill Limited Financials 15
  15. Pareto Oil & Offshore Conference – Seadrill Limited – slide 15
    Over 7 Billion Raised in 2014 NADL completes listing on NYSE with US125 million IPO US600 million NADL Bond Issue Capital Market Transactions SEK 1,500 million Bond Issue US650 million Convertible Bond Flush US1,500 million…
  16. Pareto Oil & Offshore Conference – Seadrill Limited – slide 16
    Illustrative Funding Profile Remaining Yard Instalments 2015 Funding Required 2,500 Floaters Jack-ups West Rigel West Titan 2,000 West Mira West Proteus West Carina West Rhea 1,500 West Tethys 2014 is fully US Millions…
  17. Pareto Oil & Offshore Conference – Seadrill Limited – slide 17
    Changes in SDRL Loan Structure 2009 Capital Structure Current Capital Structure 5% 16% 17% 18% 60% 84% Secured Unsecured Secured Unsecured TLB MLP Debt Maturity Profile 4,000 3,000 2,000 1,000 0 2014 2015 2016…
  18. Pareto Oil & Offshore Conference – Seadrill Limited – slide 18
    Financial performance highlights Seadrill Partners Appendix: Seadrill Limited Financials 19
  19. Pareto Oil & Offshore Conference – Seadrill Limited – slide 19
    Significant Progress Since IPO More Growth to Come 7% increase for Major Events to Date 40% increase West Auriga since IPO aquisition Tender rig T-15 acquired for US210 million 2.25 2.17 Tender rig T-16 acquired for US200…
  20. Pareto Oil & Offshore Conference – Seadrill Limited – slide 20
    Add-on Term Loan B Refinancing Seadrill Limited Refinances Existing Debt (NYSE: SDRL) Facilities Public Unit Holders 51.1% 48.9% Issued 1.1bn add-on to existing 1.8bn Term Loan B facility Seadrill Partners LLC (NYSE: SDLP)…
  21. Pareto Oil & Offshore Conference – Seadrill Limited – slide 21
    Growth - Additional UDW rigs from Seadrill 2014 2015 2016 2017 Unit Customer 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Alpha ExxonMobil US537,000 US552,000 Rosneft West Vela BP US565,000 11.2020 West Auriga BP US565,000…
  22. Pareto Oil & Offshore Conference – Seadrill Limited – slide 22
    Question & Answer Session Core Assets 32 6th generation ultra-deepwater units 2 Midwater harsh environment semi- submersible rigs 29 High-specification jack-ups 3 Harsh environment jack-ups 3 Tender rigs Financial Investments…

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