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Johnson Rice Conference – Noble Corporation plc

Noble Corporation plc · Sep 29, 2015 · 26 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. Johnson Rice Conference – Noble Corporation plc – slide 1
    Jeffrey L. Chastain Vice President Investor Relations Johnson Rice 2015 Energy Conference September 29, 2015
  2. Johnson Rice Conference – Noble Corporation plc – slide 2
    Best Positioned Offshore Driller Premium Fleet Strong Operations Execution Solid Balance Sheet and Liquidity Flexible Cash Allocation Strategy Managing Cyclical Weakness 3
  3. Johnson Rice Conference – Noble Corporation plc – slide 3
    Company Overview 9 Drillships 8 Semisubmersibles 15 Jackups 8 UDW, DP 3 UDW, DP 6 added since 2012 8 added to fleet since 2011 5 conv. moored, UDW, DW 3 added since 2007 1 under construction Current Status: Contracted: 9 5 14…
  4. Johnson Rice Conference – Noble Corporation plc – slide 4
    Company Overview Global Drilling Presence with Established Deep and Shallow Water Experience Global Fleet Composition Corporate Headquarters - UK U.S. Operations 1 3 1 8 6 4 1 1 1 1 1 1 1 1 1 Source: Noble as of…
  5. Johnson Rice Conference – Noble Corporation plc – slide 5
    Company Overview Revenues Diversified by Region and Rig Type YTD June 30, 2015 Total Revenues 1.6 Billion Revenues by Region Revenues by Rig Type 6% 16% 11% 67% Ultra-Deepwater Floaters Deepwater Floaters High-Spec…
  6. Johnson Rice Conference – Noble Corporation plc – slide 6
    Company Overview Diverse Base of Quality Customers YTD June 30, 2015 Revenue Split by Top Customers Customer 51% 1. Shell 33% 2. Freeport-McMoRan 16% 3. Saudi Aramco 4. Anadarko Source: Noble as of June 30, 2015 7
  7. Johnson Rice Conference – Noble Corporation plc – slide 7
    Strong Operations Execution 8
  8. Johnson Rice Conference – Noble Corporation plc – slide 8
    Strong Operations Execution Reduction in Fleet Downtime Percent of Total Downtime per Quarter 11.0% 10.5% 9.0% 7.4% 7.0% 5.0% 4.4% 3.9% 3.0% 9
  9. Johnson Rice Conference – Noble Corporation plc – slide 9
    Strong Operations Execution Successful Cost Management Efforts Contract Drilling Costs Per Available Day ( Thousands) 150 139.4 Drivers 140 135.2 Reduction in: Labor Costs 130 Idle Rig Costs 117.8 - 123.2 Operations Support…
  10. Johnson Rice Conference – Noble Corporation plc – slide 10
    Strong Operations Execution Margin Preservation Contract Drilling Margin per Quarter 60.0% 58.7% 58.6% 55.0% 52.4% 50.4% 50.0% 45.0% 11
  11. Johnson Rice Conference – Noble Corporation plc – slide 11
    Strong Operations Execution Two Important Keys Driving Improved Operations Execution: Noble NEXT Center Long-Term Focus on Subsea Operations 12
  12. Johnson Rice Conference – Noble Corporation plc – slide 12
    Solid Balance Sheet and Liquidity 13
  13. Johnson Rice Conference – Noble Corporation plc – slide 13
    Solid Balance Sheet and Liquidity Manageable Debt Maturities Debt/Total Capitalization ( Millions) 41.0% 40% 40% 40% 40% 40.0% or less 39.0% Target Range 35% 38.0% to 40% 37.0% 37% 36.0% 35.0% 14
  14. Johnson Rice Conference – Noble Corporation plc – slide 14
    Solid Balance Sheet and Liquidity Liquidity Improvement Supported by Strong Operations Liquidity Components: ( Billions) Cash ( 6/30/15) 248 3.0 2.9 5-year RCF 2,445(1) 2.7 1-year RCF 225(2) 2.5 or greater 2.5 2.0 2.0…
  15. Johnson Rice Conference – Noble Corporation plc – slide 15
    Flexible Cash Allocation Strategy 16
  16. Johnson Rice Conference – Noble Corporation plc – slide 16
    Positive FCF and Flexible Cash Allocation Strategy Dividend Share Repurchase Debt Retirement Premium Fleet Expansion 17
  17. Johnson Rice Conference – Noble Corporation plc – slide 17
    Managing Cyclical Weakness 18
  18. Johnson Rice Conference – Noble Corporation plc – slide 18
    Managing Cyclical Weakness Solid Contract Visibility 17 Floating Rigs Cold stacked 8 rigs contracted into 2017 Idle or later, including 3 rigs contracted beyond 2020 12/31/14 6/30/15 12/31/15 6/30/16 12/31/16 6/30/17…
  19. Johnson Rice Conference – Noble Corporation plc – slide 19
    Floating Fleet Update Shipyard project on the Noble Paul Romano is now complete. Rig has exited the yard and has commenced contract with Hess in the Gulf of Mexico. Rig received enhancements including helideck and crew quarters…
  20. Johnson Rice Conference – Noble Corporation plc – slide 20
    Managing Cyclical Weakness Solid Contract Visibility 15 Jackup Rigs Construction project complete 2Q16 12/31/14 6/30/15 12/31/15 6/30/16 12/31/16 6/30/17 12/31/17 21
  21. Johnson Rice Conference – Noble Corporation plc – slide 21
    Jackup Commitments New contract commitments include a contract for the Noble Sam Hartley - contracted to Total for three years at a dayrate of 111,000. The contract results in backlog additions of approximately 121 million.…
  22. Johnson Rice Conference – Noble Corporation plc – slide 22
    Managing Cyclical Weakness Solid Contract Coverage Percentage of Available Operating Days Floating Rigs 2015 78% Committed 2016 58% Committed 35% 2017 Committed Jackup Rigs 2015 80% Committed 2016 75% Committed 2017…
  23. Johnson Rice Conference – Noble Corporation plc – slide 23
    Managing Cyclical Weakness Backlog Provides Excellent Visibility Backlog At June 30, 2015: 8.7 Billion Estimated Annual Contribution Backlog by Client Other 4 8.8% Anadarko 4.2% 3 Statoil 2.5 7.3% 2.2 2 1.5 1.5 Saudi…
  24. Johnson Rice Conference – Noble Corporation plc – slide 24
    Managing Cyclical Weakness Declining Capex 3 3 2 2 4 ( Billions) 3 Annual Capex(1) 2011-2014 Avg. - 2.0 billion 2.1 2.1 2 1.9 1.2 1 2Q15 .585 Guidance Down .525 60mm 0 2011 2012 2013 2014 2015 (P) (1) Totals…
  25. Johnson Rice Conference – Noble Corporation plc – slide 25
    Extending a 95-Year Legacy Operational Performance Financial Discipline Position for Advantage 26
  26. Johnson Rice Conference – Noble Corporation plc – slide 26
    Noble Corporation plc Devonshire House 1 Mayfair Place London W1J 8AJ England www.noblecorp.com Investor contacts: Jeffrey L. Chastain Vice President Investor Relations 281-276-6383 John S. Breed Director Investor Relations…

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