September 2, 2015 Well-Positioned Pareto Securities 22nd Annual Oil & Offshore Conference Mark W. Smith Sr. Vice President & CFO 1
Well-Positioned to Weather the Downturn Modern, high quality rig fleet 6 UDW floaters and 3 high-specification jackups delivered 2011-2016 Bifurcation favors young fleet; only 2 rigs greater than 12 years old Industry-leading…
Geographically Diverse and High-Spec, Mixed Fleet ATWOOD BEACON ATWOOD ADMIRAL Under Houston, Texas ATWOOD ACHIEVER ATWOOD ARCHER Construction ATWOOD CONDOR ATWOOD MAKO ATWOOD ADVANTAGE ATWOOD MANTA ATWOOD ORCA ATWOOD AURORA…
Safety, Operations, and Cost Control - Drivers in Industry-Leading Margins 1.14 Safety Leader Strong Operations 1.20 35% 32% 1.00 30% 27% 27% Peer Group Average: 18% 0.80 25% 0.68 0.67 21% 21% 0.58 0.60 20% 17% 15% 0.40 15%…
Liquidity Beyond Remaining Capital Expenditures Millions 1,200 Contracted Revenue backlog of 1,089 Revenue 1.6 billion as of 1,000 September 1, 2015 Contracted EBITDA 800 575 million in CAPEX remaining total new build capital…
Increasing Financial Flexibility No additional financing required through 2019 Revolver Credit Facility matures in 2019 Senior Notes Mature in 2020 Significant availability under the revolving facility At least 500 million…
Potential for Improving Supply/Demand Balance Rig retirements are accelerating 71 floaters cold-stacked/scrapped/announced for retirement 76 jackups cold-stacked/scrapped/announced for retirement Newbuild delivery delays and…
Many Drillers Will Look Different After the Cycle A Supply Driven Rebalance of the Floater Market 400 75 units stacked/scrapped 14 350 300 72 70 Atwood has only 2 5 250 floaters 10 yrs old 200 354 150 282 265 2 new build…
Cost Reductions Improve Offshore Well Economics Floater rig dayrates approximately 50% lower than peak Service costs also declining 15 25% reductions in costs depending of the type of service being provided E&P companies shedding…
Well-Positioned to Weather the Downturn Operational excellence and cost control preserve margins Opportunities to extend work with existing clients Reducing costs without impacting safety or service Solid balance sheet and…
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