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Simmons Energy Conference – Transocean Ltd.

Transocean Ltd. · Aug 28, 2014 · 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. Simmons Energy Conference – Transocean Ltd. – slide 1
    www.deepwater.com
  2. Simmons Energy Conference – Transocean Ltd. – slide 2
    Company Overview Market Overview Value Creation Financial Flexibility Capital Investment Dividend Litigation Update 33
  3. Simmons Energy Conference – Transocean Ltd. – slide 3
    Company Overview Industry Leader Premier position in ultradeepwater market segment Largest fleet of high spec and midwater floaters Operates in most major markets worldwide Technical leader Significant relationships across…
  4. Simmons Energy Conference – Transocean Ltd. – slide 4
    5
  5. Simmons Energy Conference – Transocean Ltd. – slide 5
    Company Overview Strong Backlog Total Backlog From Continuing Operations 25.0 billion(4) 6
  6. Simmons Energy Conference – Transocean Ltd. – slide 6
    Company Overview Diversified Revenue Sources By Asset Class By Customer 11% 12% 29% 18% 33% 51% 38% 2% 6% UltraDeepwater Deepwater Harsh Environment Integrated NOC Independent Midwater HighSpec Jackups Other…
  7. Simmons Energy Conference – Transocean Ltd. – slide 7
    Company Overview Committed Fleet (5) 8
  8. Simmons Energy Conference – Transocean Ltd. – slide 8
    Market Overview Ultra-Deepwater New Field Resources Discovered Exploration success indicates (by Water Depth) Volume Discovered (billion boe) of Discoveries significant longterm ultra 18 16 180 deepwater demand 14 12 160 140…
  9. Simmons Energy Conference – Transocean Ltd. – slide 9
    Market Overview Other Floaters, Jackups Deepwater Midwater HighSpec Jackups Discoverer Seven Seas GSF Rig 140 Transocean Honor Nearterm increase in rig Strong presence in the UK and Demand and dayrates are availability Norway…
  10. Simmons Energy Conference – Transocean Ltd. – slide 10
    Value Creation 800 million margin expansion Financial Transocean Partners LLC Flexibility Divest non-core assets Debt reduction Shareholder Value Dividend - 3.00/sh Return of Capital Building 12 high- spec rigs; five are…
  11. Simmons Energy Conference – Transocean Ltd. – slide 11
    Manage financial exposure Sustain investment grade rating while renewing the fleet Progress towards gross debt targets Successfully launched Transocean Partners LLC Continue to divest noncore assets Since 2011 have divested 64…
  12. Simmons Energy Conference – Transocean Ltd. – slide 12
    Revenue efficiency and utilization Revenue Efficiency Utilization 98% 90% 85% 96% 80% 94% 75% 92% 70% 65% 90% 60% 88% 55% 50% 86% 45% 84% 40% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14…
  13. Simmons Energy Conference – Transocean Ltd. – slide 13
    Successful IPO Strong investor demand Structure permits acceleration of strategic initiatives Transocean holds majority stake Improves financial flexibility Supports balance sheet objectives Represents attractive value proposition…
  14. Simmons Energy Conference – Transocean Ltd. – slide 14
    Completed Program: 18 HighSpec Rigs 2009 20102012 2013 2014 Americas Inspiration Andaman Invictus Clear Leader KG2 Siam Driller Asgard KG1 India Ao Thai Petrobras 10000 Luanda DD III Champion Barents Honor Spitsbergen Current…
  15. Simmons Energy Conference – Transocean Ltd. – slide 15
    High-Grading of Fleet Offshore Rigs Floaters Floaters Rigs at risk of Potential newbuilds displacement Longterm growth in deepwater 215 500 Lower spec rigs at risk 110 120 298 160 floaters are 30+ years old Customers prefer…
  16. Simmons Energy Conference – Transocean Ltd. – slide 16
    Strategic imperative to highgrade the fleet through consistent investment in highspecification floaters and jackups Fleet renewal options include Acquire existing, highspecification rigs Build highspecification, contractbacked rigs…
  17. Simmons Energy Conference – Transocean Ltd. – slide 17
    Current Fleet Future Fleet Existing Under Total construction Ultra-deepwater 29 +7 36 Ultra-deepwater 50% Floaters Deepwater 12 12 Deepwater Midwater 21 21 Midwater Harsh Environment 7 7 Harsh Environment 10% Jackups…
  18. Simmons Energy Conference – Transocean Ltd. – slide 18
    Average annual capital investment to renew fleet estimated 1.52.0 billion Will be opportunistic Investment will likely vary year to year Funding sources include Operating cash flow Transocean Partners LLC Asset sales Divest…
  19. Simmons Energy Conference – Transocean Ltd. – slide 19
    Dividend yield is very competitive (%) Indicated Dividend Yield (Average of Peer Groups) 10.0 8.0 7.6 6.0 3.8 4.0 3.6 2.2 2.0 1.6 0.8 0.6 - RIG 2014 Offshore Drillers Floating Storage, Offshore Land Drillers…
  20. Simmons Energy Conference – Transocean Ltd. – slide 20
    Norway Tax Cases Criminal trial Favorable court ruling July 2014; all defendants acquitted of all five charges; prosecution authorities filed appeal on three charges Dividend civil case Norwegian District Court ruled partially in…
  21. Simmons Energy Conference – Transocean Ltd. – slide 21
    We are delivering on our commitment to create value Improving financial flexibility Executing plan to highgrade the fleet Returning excess cash to shareholders To the extent possible, reducing uncertainties the company faces…
  22. Simmons Energy Conference – Transocean Ltd. – slide 22
    www.deepwater.com

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