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Pareto Offshore Conference – Seadrill Limited

Seadrill Limited · Sep 3, 2015 · 17 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 Offshore Conference – Seadrill Limited – slide 1
    Pareto Conference Seadrill Per Wullf, Seadrill Chief Executive Officer
  2. Pareto Offshore Conference – Seadrill Limited – slide 2
    Seadrill is ten this year 2005 / 2006 2012 Listed in Oslo in 2005 Seadrill Partners LLC Acquired Smedvig in early listed on 2006 - 4 rigs in North Sea; 7 NYSE tender rigs in SE Asia Receives US4 bn 2005 Seadrill Rev: 27mn…
  3. Pareto Offshore Conference – Seadrill Limited – slide 3
    Weve delivered on all five focus areas 2 Shipyards 3 Funding 1 Safe operations 4 Customers 5 Cash savings 3
  4. Pareto Offshore Conference – Seadrill Limited – slide 4
    Continued focus on safe, efficient operations Utilization across the fleet has been high Technical utilization high at 95% YTD August (equal to results same period last year) 13 class projects executed YTD all on time and budget…
  5. Pareto Offshore Conference – Seadrill Limited – slide 5
    Discussions with shipyards are progressing Rig delivery timing Rigs Rig type Original schedule Revised schedule West Draco Drillship Q3 2015 Q2 2017 West Dorado Drillship Q4 2015 Q2 2017 West Titan Jack-up Q2 2015 Q1 2016…
  6. Pareto Offshore Conference – Seadrill Limited – slide 6
    Continuing to deliver on funding requirements Look back since last year Over the last year xx Instalments paid on loan facilities US1.1bn Secured loan facilities refinanced US1.8bn New debt - newbuilds, jack-up facility, others…
  7. Pareto Offshore Conference – Seadrill Limited – slide 7
    Commercial discussions progressing Customer Concession Benefits received Net Backlog Impact Pemex 60mn 2 year extension + 205mn ENI 32mn 18 month extension + 53mn Total 16mn 6 month extension + 46mn 4 Customers Customer A…
  8. Pareto Offshore Conference – Seadrill Limited – slide 8
    Approximately 500mn in cash savings Targets identified early Process in place Performance measured monthly Tracked at multiple levels 5 Cash savings Estimated 500mn cash savings Savings 2x original target 8
  9. Pareto Offshore Conference – Seadrill Limited – slide 9
    Floater cash flow breakeven 1 Year Ago 6 Months Ago Today Typical Floater Typical Floater Typical Floater 2 3 years 1 2 years 6 months 2 years 475,000 - 525,000 350,000 - 400,000 250,000 - 300,000 In Thousand per day…
  10. Pareto Offshore Conference – Seadrill Limited – slide 10
    Jack-up cash flow breakeven 1 Year Ago 6 Months Ago Today Typical Jack-up Typical Jack-up Typical Jack-up 1 - 2 years 6 months - 2 years 1 well - 2 years 150,000 130,000 90,000 - 100,000 In Thousand per day 27 15 10…
  11. Pareto Offshore Conference – Seadrill Limited – slide 11
    Were having Floater very difficult contract coverage conversations Seadrill Contract Coverage UDW Utilization Seadrill vs. Competition Contracted 35 100% 100% Uncontracted 91% 90% 44% 90% 85% 30 65% 2015 84% 80% 25% 74%…
  12. Pareto Offshore Conference – Seadrill Limited – slide 12
    Jack-up contract coverage Seadrill Contract Coverage High Spec JU Utilization Seadrill vs. Competition Contracted 30 100% Uncontracted 89% 44% 90% 83% 83% 65% 2015 25 84% 80% 80% 77% 80% 32% 68% 70% 20 60% 60% 68%…
  13. Pareto Offshore Conference – Seadrill Limited – slide 13
    Adjusted long term active floater fleet Projected long-term active fleet of floaters 450 400 29 350 78 78 300 26 250 200 358 150 283 283 280 100 50 0 Marketed Fleet Not Marketed Newbuild Sete Newbuilds Supply…
  14. Pareto Offshore Conference – Seadrill Limited – slide 14
    Adjusted long term active jack-up fleet Projected long-term active fleet of jack-ups 800 700 600 130 55200 500 57 400 667 300 537 480 467612 200 100 0 Marketed Fleet Not Marketed Newbuild Supply Potential…
  15. Pareto Offshore Conference – Seadrill Limited – slide 15
    Floater fleet analysis Average floater Fleet ageAge today: 17 years Floater Scrapping Picking up 25 23 20 30 year + 28% 16 15…
  16. Pareto Offshore Conference – Seadrill Limited – slide 16
    Jack-Up fleet analysis Average floater Fleet ageAge today: 17 years Jackup Scrapping Picking up 16 15 14…
  17. Pareto Offshore Conference – Seadrill Limited – slide 17
    Conclusion Delivered on the most important actions this year Strengthened the balance sheet Reset operating costs and saved cash Negotiated effectively with customers, shipyards, and banks Consolidation will happen and we will be…

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