1Q13 EARNINGS PRESENTATION – Nabors Industries Ltd.

Nabors Industries Ltd. · Apr 24, 2013 · 39 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

1Q13 Earnings Presentation April 24, 2013 Presenter: Anthony G. Petrello Chairman, President & Chief Executive Officer
Recent Highlights 3
Two Primary Business Lines Drilling & Rig Services 2012 Revenue(2) U.S. Lower 48 279 rigs(1) U.S. Offshore 22 rigs International 17% Other Rig Alaska 20 rigs Services Canada 12% Canada 66 rigs 6% International 150 rigs Other…
New Board Member Howard Wolf Experience Former senior partner at Fulbright & Jaworski L.L.P. (1959-2003) Chaired State Bar of Texas Committee on Securities and Investment Banking and Section on Corporation, Banking, and Business…
Balance Sheet Management Targeted Net Debt Reduction Actual Targeted(3) (MM's) 4Q11 4Q12 1Q13 4Q13 Total Debt 4,624 4,380 4,380 3,913 Cash and Investments 539 778 690 540 Net Debt 4,084 3,601 3,690 3,372 Shareholders Equity 5,588…
PACE-X Rig Designed for Current and Future Market Demands Awarded 2 New Contracts = 19 Contracted 18 rigs delivered in 2013 & 1 rig in 2014 Smaller modular footprint and walking system Reduces pad construction and remediation costs…
Alaska Legislature Repeals Progressive Tax Senate Bill 21 passed April 14, 2013 Gov. Sean Parnell: We are signaling to the world that Alaska is back, ready to compete, and ready to supply more energy once again. Goal to increase…
Financial Summary (Ms except EPS) 1Q12 2Q12 3Q12 4Q12 1Q13 Revenue 1,821,757 1,602,797 1,666,892 1,596,807 1,581,540 EBITDA 563,157 486,363 497,612 427,034 422,953 Operating Income 315,536 225,347 228,015 149,751 149,588 (1)…
Drilling & Rig Services 10
Drilling & Rig Services Adjusted Income (Loss) Derived from Operating Activities (Ms) 1Q12 2Q12 3Q12 4Q12 1Q13 Drilling & Rig Services: U.S. Drilling 166,733 145,351 115,207 82,603 77,595 Canada 43,146 (529) 21,679 27,064…
Global Rig Fleet Details AC SCR Mech Total Moving Systems Alaska Land 5 12 3 20 13 Lower 48 157 96 26 279 141 Canada 16 21 29 66 20 International Land 31 64 31 126 49 Offshore 6 40 2 48 n/a Total 215 233 91 539 223 Rigs by Power Type…
1Q Rig Utilization & Availability Rig Fleet 1Q13 Rig Years Utilization U.S. Lower 48 AC 140 119 85% Legacy 122 51 42% U.S. Lower 48 Total 262 170 65% U.S. Offshore 22 14 64% Alaska 21 6 29% Canada 65 40 62% International 148…
Leading Lower 48 Player PACE-F Rig PACE-M Rig Contract mix 115 rigs (65%) term 62 rigs (35%) spot Commodity focus 136 rigs (77%) oil and liquids 26 rigs (15%) gas term 15 rigs (8%) gas spot PACE-B Rig PACE-X Rig Customer…
Lower 48 Working Rigs by Region and Play 62 5 9 20 Basin Rigs 25 16 10 Marcellus/Utica 9 Haynesville 12 Bakken 49 30 Eagle Ford 30 Permian 25 Barnett 3 Granite Wash 11 Other 38 Total Lower 48 Rigs on Revenue: 177…
Lower 48 Newbuild Deployments 16 14 12 16 rigs left to be delivered 10 in 2013 & 1 rig in 2014 8 6 4 2 0 2Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2005 2006 2007 2008…
Lower 48 Pad Capable Rigs NBR Skid, 27 Nabors currently has over 1/3 of industrys pad- capable rigs and 40% of its walking rigs NBR Walking, 78 Industry Skid, 65 Industry Walking, 112 Pad-Capable (NBR) 6% Non…
Walking System Advantages Skidding System Limited by guide track, problems with existing wells Requires perfectly level guide track to prevent high-center of rig Guide track is last to leave, first to be rigged up Unforgiving if…
Three Limitations of Skid Rigs 1. Accommodating misaligned wells 19
Three Limitations of Skid Rigs 2. Accommodating typical wellhead installation 20
Three Limitations of Skid Rigs 3. Accommodating uneven ground 21
PACE-X Pad Drilling Capabilities 22
U.S. Offshore Two of the Largest Platform Drilling Rigs in the Gulf of Mexico Two New 4,600 HP Rigs U.S. Offshore Rig Fleet Workover Platform 10 Drilling Platform 7 Workover Jackup 1 Barge 4 Total 22 Nabors designed, built…
Nabors Arctic Coiled Tubing Drilling Rig CDR-2 24
Canada Drilling Canada Rig Year Seasonality 60 50 40 30 20 10 0 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Canada Rig Years 1Q rig count lower than…
Canada Working Rigs by Play Workover Play Target AC SCR Mechanical Walking Rigs Rigs Montney Oil / Gas 3 8 5 1 Duvernay (NW Oil 1 1 18 Alberta) Cardium (Central Oil 8 18 Alberta) Saskatchewan Oil 4 Oil Sands Oil 2 2 4 10 Horn…
International Working Rigs 1 1 4 1 2 1 5 14 32 1 10 4 5 3 8 5 6 2 2 1 2 15 Algeria 10 Ecuador 6 Kuwait 2 Romania 1 Angola 1 India 5 Malaysia 2 Russia 4 Argentina 15 Iraq 5 Mexico 14 Saudi Arabia 32 Colombia 8 Italy…
International Land Fleet Details AC SCR Mech Total Moving Systems International 32 64 30 126 49 Rigs by Power Type Rigs with Moving Systems 24% 25% 39% 61% 51% AC SCR Mech Moving Systems Non-Moving Rigs with Top Drives…
Closing the Loop on Drilling Automation Manufacturing Automated Drilling Equipment Drilling Advanced Rig Software & Designs Automation Technology Directional Operational Drilling Excellence Expertise 29
Completion & Production Services 30
Completion & Production Services Adjusted Income Derived from Operating Activities (Ms) 1Q12 2Q12 3Q12 4Q12 1Q13 Completion & Production Services: Completion Services 64,860 46,144 47,218 30,296 17,756 Production Services 28,029…
Completion & Production Services Fleet Frac Frac Region Rigs Trucks CTU Cementing Wireline Additional Equipment Crews Tanks Western 181 108 99 15 12 P&A Rigs, Foam Units Rockies 69 10 56 322 2 9 10 P&A Rigs, Pumps, Swivels Mid-Con 36…
Stimulation Fleet Contract Detail Region of Crews Term Spot Idle Oil/Liquids Dry Gas 24 Hr. Rockies 10 6 4 10 6 Mid-Con 1 1 Northeast 4 1 3 2 2 3 West Texas 3 1 1 1 2 South Texas 3 2 1 3 3 Ark-La-Tex 2 2 Gulf Coast 1 1 Canada 2 2…
U.S. Production Services Rates & Hours Well Servicing Rigs Fluid Hauling Trucks Annual Rates and Hours Annual Rates and Hours 580 900,000 130 2,500,000 540 120 2,000,000 800,000 500 110 1,500,000 700,000 460 100 1,000,000 600,000…
Summary 35
Key Takeaways Near term remains challenging with limited visibility Outsized operating leverage over longer term Global optionality relative to North America-centric peers Continued focus on EBITDA generation Multiple…
EBITDA (Ms) 1Q12 2Q12 3Q12 4Q12 1Q13 Drilling & Rig Services 455,225 399,217 398,741 359,889 356,688 Completion & 146,560 123,176 136,488 107,732 97,842 Production Services Other reconciling items (38,628) (36,030) (37,617)…
Ancillary Information 38
Nabors Global Infrastructure Margins and Activities 1Q12 4Q12 1Q13 Drilling Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs U.S. Lower 48 10,942 219.0 12,363 172.7 9,955 169.5 U.S. Offshore 19,630 11.9 (428) 12.4 19,163…
U.S. Lower 48 Term Contracts in Force at March 31, 2013 Added 16 contracts in 1Q net of expirations Quarter-end Number Of Rigs Subject To Term Contracts(1) 1Q13 2Q13 3Q13 4Q13 1Q14 4Q 2012 95 81 69 63 55 1Q 2013 111 92 79 76 64…

From the store

Presentation Manager Subscription - Discounted $1,092

Browse maps, data & reports in the Shale Experts store