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Peters and Co 2015 Energy Conference – TGS

TGS · Sep 15, 2015 · 25 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. Peters and Co 2015 Energy Conference – TGS – slide 1
    Pareto Oil & Offshore Conference 2015 Robert Hobbs Sven Brre Larsen CEO CFO September 2015
  2. Peters and Co 2015 Energy Conference – TGS – slide 2
    This is TGS Main offices: Calgary London Houston and Oslo Oslo Regional offices: London, Perth, Calgary, Singapore and Rio de Janeiro Fundamental values: Unmatched Quality and Service, Growth for Stakeholders Houston…
  3. Peters and Co 2015 Energy Conference – TGS – slide 3
    Well positioned in the seismic value chain M U LT I - C L I E N T SERVICES Geophysical Data Geological Data Imaging Services 2D Seismic Digital well data Seismic processing 3D Seismic Directional Surveys Complex depth imaging…
  4. Peters and Co 2015 Energy Conference – TGS – slide 4
    TGS competitive advantage Asset light business model Global Quality Flexibility Geographically diverse Balance sheet data library Investment decisions not People and culture driven by vessel utilization Leadership in mature…
  5. Peters and Co 2015 Energy Conference – TGS – slide 5
    Diversified Portfolio With Different Characteristics Characteristics TGS multi-client project portfolio Return targets + 1.7X 2.0X 2.5X + 2.5X Prefunding 70 120% 40 60% 20 40% requirements Awarded acreage Mainly open…
  6. Peters and Co 2015 Energy Conference – TGS – slide 6
    Challenging Market for Exploration Demand for seismic data has significantly deteriorated over the first six months of 2015 and the outlook for improvement in the market remains quite uncertain TGS approach during down cycle:…
  7. Peters and Co 2015 Energy Conference – TGS – slide 7
    Financials 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 8
  8. Peters and Co 2015 Energy Conference – TGS – slide 8
    Key Financials Net Revenues EBIT before non-recurring items 191 271 222 205 190 298 172 140 350 140 50% 300 9 120 10 40% 250 100 11 8 200 9 80 30% 9 6 226 5 150 218 137 60 120 111 20% 137 130 72 94 100 138 40 80 82 82 71 10% 50…
  9. Peters and Co 2015 Energy Conference – TGS – slide 9
    Investments per Vintage ahead of schedule 700 685 100% 609 600 500 381 60% 400 60% 300 270 48% 200 153 40% 28% 100 20% 2% 6% 0 0% 2011 2012 2013 2014 WIP Original investments Maximum allowed NBV (year-end)…
  10. Peters and Co 2015 Energy Conference – TGS – slide 10
    Q2 Net Revenues vs. Net Book Value per Vintage 60% 57% 50% 50% 40% 35% 63% 30% 24% 20% 13% 10% 7% 6% 4% 2% 2% 0% 0% 0% pre-2011 2011 2012 2013 2014 WIP Net revenues Net book value 2015 TGS-NOPEC…
  11. Peters and Co 2015 Energy Conference – TGS – slide 11
    Solid balance sheet backing TGS strategy Cash balance per Q2 2015 Other 76 Current liabilities represents 176 MUSD Goodwill 67 234 Cash 176 35 Non-current liabilities Strong balance sheet provides Receivables 308 excellent…
  12. Peters and Co 2015 Energy Conference – TGS – slide 12
    Strong Cash Generation Delivers Shareholder Value Dividend per Share (NOK) and Dividend Yield* 2015 Dividend Yield vs OSX Index* 9 8.5 8.5 6.0% 8 5.2% 8 5.5% 7 4.1% 6 6 5.0% 3.4% 3.4% 5 3.1% 5 4 4.5% 2.5% 4 2.2% 2.0% 2.0% 1.9% 3…
  13. Peters and Co 2015 Energy Conference – TGS – slide 13
    Outlook 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 14
  14. Peters and Co 2015 Energy Conference – TGS – slide 14
    Operational Activity Mexico Mexico Gigante 181,500 km multi-client 2D survey Regional 2D survey commenced in Q2 2015 and expected to complete in H2 2016 Survey includes world class producing trends such as the Perdido fold belt and…
  15. Peters and Co 2015 Energy Conference – TGS – slide 15
    Operational Activity North America East Canada Flemish Pass 4,300 km2 multi-client 3D survey TGS first 3D acquisition offshore East Canada in partnership with PGS Eastern Newfoundland/South Labrador - 6000 km2 multi-client 3D…
  16. Peters and Co 2015 Energy Conference – TGS – slide 16
    Operational Activity Europe Barents Sea Europa - 2,900 km2 multi-client 3D survey Acquisition completed in Q2 2015 South-East Norwegian Barents Sea Hjalmar 3,000 km2 multi-client 3D survey Acquisition expected to complete in Q3…
  17. Peters and Co 2015 Energy Conference – TGS – slide 17
    Operational Activity North America Onshore Freeport - 1,777 km2 3D multi-client survey Blanchard 1,100 km2 3D multi-client survey Utica play, central Ohio South Central Oklahoma Oil Play (SCOOP), Oklahoma Acquisition will complete…
  18. Peters and Co 2015 Energy Conference – TGS – slide 18
    Polarcus Library: Western Atlantic Margin Corridor Letter of Intent to acquire Polarcus multi-client library (excluding Australia) for 27.5 MUSD, majority closed August 24 Deal includes payments of 2014 and 2015 acquisition costs…
  19. Peters and Co 2015 Energy Conference – TGS – slide 19
    License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central GOM Mar 2016 (5-Year Plan) Madagascar 2015 (expected) Norway APA Sep 2015 (bids due) Western GOM Aug 2015…
  20. Peters and Co 2015 Energy Conference – TGS – slide 20
    Global Well Data Coverage TGS owns and manages a global well log database Strong synergies with multi-client seismic data business 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 21
  21. Peters and Co 2015 Energy Conference – TGS – slide 21
    Backlog Historical Backlog (MUSD) 2011 - 2015 350 300 250 200 150 281 293 260 242 224 242 100 211 213 188 185 178 193 153 143 146 134 50 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 2011 2012 2012 2012 2012…
  22. Peters and Co 2015 Energy Conference – TGS – slide 22
    2015 Projects Schedule NSA EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sanco Swift Australia Australia JV Sanco Sword Australia U.S. Gulf of Mexico Barents Sea 3D & WAZ Polarcus Adira Barents Sea CGG…
  23. Peters and Co 2015 Energy Conference – TGS – slide 23
    Summary H1 performance has confirmed the challenging market conditions and outlook for improvement remains uncertain H1 net revenues of 311 MUSD H1 operating profit of 73 MUSD, 23% of net revenues H1 multi-client investment of 279…
  24. Peters and Co 2015 Energy Conference – TGS – slide 24
    TGS Performs in all Cycles EBIT margin vs. Seismic peers Return on Capital Employed 80% 80% 70% 60% 60% 40% 50% 20% 40% 30% 0% 20% -20% 10% -40% 0% Peer Average TGS ROCE WACC Average EBIT margin…
  25. Peters and Co 2015 Energy Conference – TGS – slide 25
    Thank you www.tgs.com 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved.

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