Skip to main content Q2 2015 Results – Seabird Exploration Fz Llc Investor Presentation | Shale Experts
Loading...
Pm

Q2 2015 Results – Seabird Exploration Fz Llc

Seabird Exploration Fz Llc · Aug 18, 2015 · 18 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. Q2 2015 Results – Seabird Exploration Fz Llc – slide 1
    SeaBird Exploration Second Quarter Presentation 18 August 2015 CEO Dag Reynolds CFO Nils Haugestad
  2. Q2 2015 Results – Seabird Exploration Fz Llc – slide 2
    Highlights Financial results Revenues of 19.6 million (24.2 million Q1 2015) Adjusted EBITDA of 3.9 million (3.5 million Q1 2015) Non-recurring charges of 14.4 million during the quarter 10.3 million restructuring charges on long-term…
  3. Q2 2015 Results – Seabird Exploration Fz Llc – slide 3
    Financial summary
  4. Q2 2015 Results – Seabird Exploration Fz Llc – slide 4
    Historical operating comparison EBITDA Revenues (USD millions) 50 (USD millions) 15 12.6 44.7 8.2 10 40 3.9 5 0 30 28.1 -5 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 (2.1) 24.2 22.7 -10 (6.5) 19.6 20 41.0 -15 -20 23.5 23.0 10 18.8…
  5. Q2 2015 Results – Seabird Exploration Fz Llc – slide 5
    Vessel utilization Q2 contract utilization of 68%, up from 58% in Q1 2015 Vessel utilization - Substantial repositioning of fleet; 100% 1% 0% 2% 2% Gulf of Mexico and Asia 13% 90% 7% 80% 33% 13% 43% 40% 19% 70% No vessel used…
  6. Q2 2015 Results – Seabird Exploration Fz Llc – slide 6
    Income statement Q2 CONSOLIDATED INTERIM STATEMENT OF INCOME Quarter ended 30 June All figures in USD million Adjusted Non-recurring Reported Reported 2015 items 2015 2015 2014 Contract 18.8 - 18.8 41.0 Multi-client 0.7 - 0.7 3.7…
  7. Q2 2015 Results – Seabird Exploration Fz Llc – slide 7
    Income statement YTD CONSOLIDATED INTERIM STATEMENT OF INCOME Six months ended 30 June All figures in USD million Adjusted Non-recurring Reported Reported 2015 items 2015 2015 2014 Contract 41.8 - 41.8 71.5 Multi-client 1.9 - 1.9 6.9…
  8. Q2 2015 Results – Seabird Exploration Fz Llc – slide 8
    Cash flow statement CONSOLIDATED INTERIM STATEMENT OF CASH FLOW Quarter ended Six months ended 30 June 30 June All figures in USD millions 2015 2014 2015 2014 Profit/(loss) before income tax (16.5) (7.1) 47.3 (7.5) Restructuring gain…
  9. Q2 2015 Results – Seabird Exploration Fz Llc – slide 9
    Balance sheet CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION As of As of 30 June 31 December All figures in USD millions (except for equity ratio) 2015 2014 2014 Property, plant and equipment 73.0 116.8 78.9 Multi-client…
  10. Q2 2015 Results – Seabird Exploration Fz Llc – slide 10
    Debt profile Funded debt profile (USD millions) 45 40 38.1 4.3 33.7 35 2.1 4.3 30 2.4 1.9 2.0 25 20 15 29.3 25.5 10 5 0 Face value Book value Bond loan - SBX 04 Secured credit facility Unsecured note…
  11. Q2 2015 Results – Seabird Exploration Fz Llc – slide 11
    Funded debt review Debt instruments SBX04 Main terms Tranche A Tranche B Credit facility Unsecured note Amount in millions 5.0 24.3 2.4 2.1 Maturity Mar-18 Mar-18 Mar-18 Dec-17 Coupon 12.00% 6.00% 6.00% 6.00% Amortization Two years…
  12. Q2 2015 Results – Seabird Exploration Fz Llc – slide 12
    Business review and outlook
  13. Q2 2015 Results – Seabird Exploration Fz Llc – slide 13
    Segment operating activity Contract revenue by survey type Contract revenue by region (USD millions) 45 41.0 45 (USD millions) 41.0 40 40 35 9.3 35 13.4 30 30 23.5 23.0 23.5 25 25 23.0 18.8 6.8 20 4.6 5.7 4.4 18.8 16.4 20…
  14. Q2 2015 Results – Seabird Exploration Fz Llc – slide 14
    Backlog Firm backlog (USD millions) 160 Firm backlog developments 140 136 Mexico Gigante contract started at the 122 end of Q2 120 One contract reclassified to advanced stage category 100 96 Seabed Geosolutions contract…
  15. Q2 2015 Results – Seabird Exploration Fz Llc – slide 15
    TGS Gigante Mexico survey The largest 2D survey ever awarded First shot point during June 2015 Hawk, Northern and Osprey currently in production, followed by Harrier in September Hot spot for the seismic industry; time…
  16. Q2 2015 Results – Seabird Exploration Fz Llc – slide 16
    Multi-client update Multi-client investment during the quarter of 0.2 million Multi-client revenues by quarter (USD millions) Reprocessing of existing data set 7 6.3 6 Multi-client revenues in Q2 of 0.7 million 5 4.6 3.7 Revenues…
  17. Q2 2015 Results – Seabird Exploration Fz Llc – slide 17
    Initiatives to improve margins Focus area Initiatives Status Margin improvement 3 million SGA cost reduction: Office relocation from Dubai and other measures; Completed (SGA) additional initiatives under review CAPEX savings Total…
  18. Q2 2015 Results – Seabird Exploration Fz Llc – slide 18
    Market outlook Current market softness likely to continue throughout 2016 Reduced exploration activity Start-up delays and cancellation of surveys Relatively high activity level in 2D and source Competition in 2D and source market…

From the store

Browse maps, data & reports in the Shale Experts store