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RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd.

Transocean Ltd. · Jun 6, 2016 · 19 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. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 1
    RBC Capital Markets Energy and Power Executive Conference New York June 2016 Mark Mey - Executive Vice President, Chief Financial Officer
  2. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 2
    Challenging Market Commodity Prices O&G exploration programs cut due to low oil prices 140 E&P companies focusing on preserving cash and low cost/near- term production 120 Reduced E&P budgets set for 2016 100 Increases in 2017 budgets…
  3. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 3
    Challenging Market Low oil prices rig market is oversupplied reduced drilling demand Ultra-Deepwater Deepwater Midwater High-Spec Jackups Global fleet utilization Global fleet utilization Global fleet utilization Global fleet…
  4. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 4
    Strong Financial Position 14.6 billion backlog provides solid cash-generation foundation 5.6 billion total liquidity at March 31, 2016 2.6 billion cash 3.0 billion undrawn revolving credit facility Continued strong operating…
  5. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 5
    Industry Leading Contract Backlog Total backlog - 14.6 billion* (90% Investment Grade Cos.) 7.0 6.0 6.0 (US billions) 5.0 Backlog recognized 4.0 through March 31, 2016 3.4 3.0 1.1 2.7 6.0 2.1 2.0 1.5 1.5 2.1 1.7…
  6. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 6
    Backlog Surpasses Peers 2.8 2.6 2.4 Backlog Composition by Year 2.2 2.0 Backlog in US Billions 1.8 1.6 RIG 1.4 RDC 1.2 NE 4.8B ESV 1.0 0.8 14.6B DO ATW 0.6 1.0B 6.2B 0.4 5.2B 0.2 3.1B - 2016 2017 2018 2019 2020…
  7. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 7
    Substantial Liquidity 12 Projected liquidity at 11 December 31, 2017 10 9 8 1.5-2.5B* 1.7B* (US billions) 7 1.6B 6 3.0B 5 3.8-4.8B* OMRs 3Q15-1Q16 with 4 Post-2017 Maturities - 0.3B 3 2 2.6B at 3/31/16 1 0 Cash…
  8. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 8
    Global Footprint and Diverse Fleet 28 Ultra-Deepwater 7 Harsh Env. 5 Deepwater 10 Midwater 10 Jackup Transocean fleet composition as of 4/21/16 Fleet Status Report 9
  9. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 9
    Extensive Customer Network 10
  10. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 10
    Unmatched Experience Transocean Comprehensive drilling operations database Competitor 1 Includes 4,000 offshore wells drilled since 2010 Competitor 2 (1,000 UDW wells) Competitor 3 Activity in all major worldwide UDW basins Extensive…
  11. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 11
    Improving Equipment Reliability and Uptime BOP Non-productive Time 75% reduction in BOP-related downtime Non-productive time below 2% Performance driven by Transocean / OEM collaboration Focus moves to other critical…
  12. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 12
    Proof of Performance Revenue Efficiency 2015 Average Revenue Efficiency 96% 100% 95% UDW revenue efficiency 90% averaged 95% in 2014 and 2015 Continued progress from current 85% initiatives; focus on operational excellence…
  13. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 13
    Aligning with Customers Actual drilling days: 26.6 AFE days:34 0 5 10 15 20 25 30 35 0 500 350k/d = Market rate 1000 50k/d Malus applied 300k/d = Dayrate x [AFE/Actual] 1500 384k/d = Actual rate w/ 50% bonus opportunity 2000…
  14. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 14
    Transforming Transocean 15
  15. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 15
    Implementing Innovative Cost-Saving Solutions Repair & Maintenance Costs DP Stacking Costs: Reduced to
  16. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 16
    Proof of Performance Revenue, Adjusted EBITDA & Costs 3,000 70% 60% 2,400 50% (US millions) 1,800 40% 1,200 30% 600 20% 0 10% 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 (1) 1Q16 (1) Revenue Adj Costs* Adj EBITDA** Adj…
  17. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 17
    Improving Mix and Overall Fleet Quality 2009 Fleet Current Fleet 2020 Projected Fleet % of Fleet % of Fleet % of Fleet 15% 4% 16% 24% 41% 47% 25% 55% 10% 32% 8% 11% 12% Ultra-Deepwater Floaters Actions include:…
  18. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 18
    The Path Forward Transocean will: Actively manage capital structure and liquidity Deliver the safest, most efficient drilling services Continue to focus on producing strong operating results through: o Strengthening customer…
  19. RBC Capital Markets Energy and Power Executive Conference – Transocean Ltd. – slide 19
    RBC Capital Markets Energy and Power Executive Conference New York June 2016 Mark Mey - Executive Vice President, Chief Financial Officer

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