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Cowen and Company Ultimate Energy Conference – Noble Corporation plc

Noble Corporation plc · Dec 1, 2015 · 22 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. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 1
    James A. MacLennan Senior Vice President and Chief Financial Officer Cowen and Company 5th Annual Ultimate Energy Conference December 1, 2015
  2. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 2
    Best Positioned Offshore Driller Premium Fleet Strong Operations Execution Solid Balance Sheet and Liquidity Sustainable Cash Allocation Strategy Managing Cyclical Weakness 3
  3. Cowen and Company Ultimate Energy 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 6 14…
  4. Cowen and Company Ultimate Energy 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 3 1 1 8 6 4 1 1 1 1 1 1 1 1 1 Source: Noble as of…
  5. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 5
    Company Overview Revenues Diversified by Region and Rig Type YTD September 30, 2015 Total Revenues 2.5 Billion Revenues by Region Revenues by Rig Type Source: Noble as of September 30, 2015 6
  6. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 6
    Company Overview Diverse Base of Quality Customers YTD September 30, 2015 Revenue Split by Top Customers Customer 54% 1. Shell 31% 2. Freeport-McMoRan 15% 3. Saudi Aramco 4. Anadarko Source: Noble as of September 30,…
  7. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 7
    Strong Operations Execution 8
  8. Cowen and Company Ultimate Energy 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% 4.6% 3.9% 3.0% 9
  9. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 9
    Strong Operations Execution Successful Cost Management Efforts Contract Drilling Costs Per Available Day ( Thousands) 150 139.4 140 Drivers 135.2 Reduction in: 130 Labor Costs 121.3 Idle Rig Costs 120 116.9 112.3 - 117.8…
  10. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 10
    Strong Operations Execution Margin Preservation Contract Drilling Margin per Quarter 65.0% (1) 60.0% 58.7% 58.6% 58.9% 55.0% 52.4% 50.4% 50.0% 45.0% (1) Adjusted for Noble Homer Ferrington arbitration award 11
  11. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 11
    Solid Balance Sheet and Liquidity 12
  12. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 12
    Solid Balance Sheet and Liquidity Manageable Debt Maturities Debt/Total Capitalization ( Millions) 41% 40% 40% 40% 40% 39% Target Range 35% 38% to 40% 37% 37% 37% 37% 36% 35% 13
  13. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 13
    Solid Balance Sheet and Liquidity Liquidity Improvement Supported by Strong Operations ( Billions) 3.0 3.0 2.9 2.8 2.7 Liquidity Components: Cash ( 9/30/15) 165 2.5 5-year RCF 2,445(1) 1-year RCF 225(2) 2.0 2.0 1.8…
  14. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 14
    Sustainable Cash Allocation Strategy 15
  15. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 15
    Positive FCF and Sustainable Cash Allocation Strategy Dividend Share Repurchase Debt Retirement Premium Fleet Expansion 16
  16. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 16
    Managing Cyclical Weakness 17
  17. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 17
    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…
  18. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 18
    Managing Cyclical Weakness Solid Contract Visibility 15 Jackup Rigs Idle 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 Source: Noble Corporation plc Fleet Status Report as…
  19. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 19
    Managing Cyclical Weakness Solid Contract Coverage Percentage of Available Operating Days Floating Rigs 2015 80% Committed 2016 58% Committed 35% 2017 Committed Jackup Rigs 2015 74% Committed 2016 76% Committed 2017…
  20. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 20
    Managing Cyclical Weakness Backlog Provides Excellent Visibility Backlog at September 30, 2015: 8.1 Billion Estimated Annual Contribution Backlog by Client Other 4 9.3% Anadarko 3.7% 3 2.5 Statoil 2.3 7.9% 2 1.6 Saudi…
  21. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 21
    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 3Q15 Guidance Newbuild Capex 1.2 Down Noble Lloyd Noble 135mm Delivery 1 .800 .585…
  22. Cowen and Company Ultimate Energy Conference – Noble Corporation plc – slide 22
    Extending a 95-Year Legacy Operational Performance Financial Discipline Position for Advantage 23

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