Barclays CEO Energy-Power Conference September 8, 2015 Jeremy Thigpen President and Chief Executive Officer www.deepwater.com
Recent Accomplishments Continued improvement across key safety metrics Revenue efficiency at or above 95% for last 5 of 6 quarters Operational Sustained improvements in cost structure and margins Improvement Rationalized headcount…
Sustained Operational Out-Performance 2Q15 adjusted earnings of 1.11/share on revenues of 1.9 billion Revenue Efficiency Revenue, Adjusted EBITDA & Costs Average Revenue Efficiency 95.3% 100% 3,000 70% 95% 60% 2,400 90%…
Industry Leading Execution Focus on personal and process safety Reducing non-productive time Better planning, improved reliability, lower spend Deliver more wells in record time www.deepwater.com 5
Industry Leading Contract Backlog Total backlog - 18.6 billion* Chart Title 8.0 6.8 7.0 6.0 Backlog recognized 5.7 through July 31, 2015 5.0 (US billions) 4.1 3.9 4.0 3.0 2.8 5.7 2.6 1.9 2.0 1.4 1.6 2.3 2.7…
Global Market Leader 27 Ultra-Deepwater 7 Harsh Env. 6 Deepwater 13 Midwater 10 Jackup Transocean fleet composition at August 19, 2015 www.deepwater.com 7
Challenging Market Oil prices at post-2009 lows and rig market is oversupplied rig fleet transformation in progress Ultra-Deepwater Deepwater Midwater High-Spec Jackups Deepwater Invictus Jack Bates GSF Rig 140 Transocean Honor…
Future Imbalance From Depressed Oil Prices 50 oil: supply and demand could be in balance in 2015, incremental demand incremental supply 70/bbl but supply destruction in out-years is unsustainable mmb/d incremental supply 90/bbl…
Future Demand Requires Offshore Development 50% of incremental new field production growth through 2020 is related to non-OPEC offshore Crude & Condensate Production (mmb/d) development 85 Chart Title Non-Producing Fields Producing…
Rig Attrition Key to Rebalance the Market Marketed Utilization (average last 12 months) Contract Status & Expected Demand 2005-2017 7500+ 92.6% All Floaters - Worldwide 4500-7500…
Investing in the Fleet High Specification Assets 18 Newbuilds Added 2009-2014 12 Newbuilds in Pipeline 2016-2020 11 UDW Drillships 7 UDW Drillships 3 UDW Semisubmersibles 5 HS Jackups 4 HS Jackups 12B Investment 7B…
Strong Financial Position 18.6 billion backlog provides solid cash-generation foundation 5.9 billion total liquidity at July 31, 2015 2.9 billion cash o Includes July 2015 redemption of 4.95% senior notes 3.0 billion undrawn…
Substantial Liquidity 12 Projected liquidity at 11 December 31, 2017 3.7-4.7B* 3.7B* 10 9 8 7 (US billions) 1.9B 3.0B 6 5 4.0-5.0B* 4 2.9B 3 2 1 0 Cash at 7/31/15 Revolving Credit Operations Cash CapEx through Debt…
The Path Forward Transocean will: Deliver the safest, most efficient drilling services Continue to focus on producing strong operating results through: o Strengthening customer relationships o Delivering best-in-class uptime and…
Barclays CEO Energy-Power Conference September 8, 2015 Jeremy Thigpen President and Chief Executive Officer www.deepwater.com
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