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Howard Weil Energy Conference – Ensco Plc

Ensco Plc · Mar 31, 2014 · 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. Howard Weil Energy Conference – Ensco Plc – slide 1
    Howard Weil Energy Conference March 2014 1
  2. Howard Weil Energy Conference – Ensco Plc – slide 2
    Agenda Highlight major accomplishments and competitive position Strategy and process Supply and demand considerations Bright future ahead 3
  3. Howard Weil Energy Conference – Ensco Plc – slide 3
    Dividend Growth 3.00 2.00 1.50 1.40 0.10 Nov. 2009 Apr. 2010 Feb. 2012 Feb. 2013 Nov. 2013 Note: Dividend announcement date 4
  4. Howard Weil Energy Conference – Ensco Plc – slide 4
    Strong Financial Position 11 billion of contracted revenue backlog Baa1/BBB+ ratings from Moodys/S&P Leverage Ratios 67% 40% 39% 37% 35% 27% SDRL NE RIG RDC DO ESV Source: Total debt-to-capital ratios from ISI Group Oil…
  5. Howard Weil Energy Conference – Ensco Plc – slide 5
    Payout Ratios 151% 89% 73% 52% 49% 20% SDRL DO RIG NE ESV RDC Source: Thomson Reuters; most recent declared quarterly dividend annualized divided by 2013 earnings per share for dividend-paying offshore drillers. RIG and…
  6. Howard Weil Energy Conference – Ensco Plc – slide 6
    Net Income Margin 29% 23% 23% 16% 16% 14% ESV SDRL DO NE RDC RIG Source: Thomson One; sum of trailing eight quarters of net income divided by sum of trailing eight quarters of revenue 7
  7. Howard Weil Energy Conference – Ensco Plc – slide 7
    Industry Leader in Customer Satisfaction Rated 1 Total Satisfaction Performance and Reliability Deepwater Drilling Shelf Wells Technology Horizontal and Directional Wells Special Applications North Sea 8
  8. Howard Weil Energy Conference – Ensco Plc – slide 8
    Vision and Strategy Vision As the offshore driller of choice, we will go beyond what is expected to achieve a safe zero-incident workplace and to be the clear choice among employees, customers and investors Invest in High- Quality…
  9. Howard Weil Energy Conference – Ensco Plc – slide 9
    Fleet Highgrading Six newbuild rigs to be delivered through 2016 570 million of budgeted rig enhancements to existing fleet in 2014 200 million of rig enhancements are customer-funded 13 rigs sold since 2009 80 million pre-tax…
  10. Howard Weil Energy Conference – Ensco Plc – slide 10
    New Ultra-Deepwater Fleet ( 7,500) Avg. Age of Fleet 19.7 Years 9.3 8.4 3.9 3.2 SDRL ESV NE RIG DO Source: IHS-ODS Petrodata as of 1 March 2014 Ultra-deepwater includes competitive semisubmersibles and drillships…
  11. Howard Weil Energy Conference – Ensco Plc – slide 11
    Newbuild Delivery Schedule 2014 1Q14 2Q14 3Q14 2015 4Q14 1Q15 2Q15 3Q15 4Q152016 1Q16 2Q16 ENSCO 122 Contracted ENSCO DS-8 Contracted ENSCO DS-9 ENSCO 110 ENSCO DS-10 ENSCO 123 Drillships Premium jackups 12
  12. Howard Weil Energy Conference – Ensco Plc – slide 12
    Floater Upgrades Major upgrades to several rigs ENSCO 5005 ENSCO 5006 ENSCO DS-2 ENSCO 6001 and ENSCO 6002 13
  13. Howard Weil Energy Conference – Ensco Plc – slide 13
    Premium Jackup Fleet Overview Largest premium jackup fleet 1.3 billion committed to build four ultra-premium ENSCO 120 Series jackups and one premium jackup, ENSCO 110 14
  14. Howard Weil Energy Conference – Ensco Plc – slide 14
    ENSCO 120 Series Ultra-Premium Jackups Two under construction 1 billion+ investment 40,000 total drilling depth 400 water depth 2.5 million pound quad derrick State-of-the-art cantilever envelope Ultra-deep gas/long-reach…
  15. Howard Weil Energy Conference – Ensco Plc – slide 15
    Global Platform Europe & Mediterranean Semi 1 U.S. Gulf of Mexico Jackups 10 Ships 3 Semis 6 Jackups 8 Middle East Jackups 10 Africa Mexico Ships 4 Jackups 4 Semis 2 Brazil Semis 6 Asia Pacific Under Construction Semi 4…
  16. Howard Weil Energy Conference – Ensco Plc – slide 16
    Benefits of Standardization ENSCO Samsung DP3 Megathyst DP3 Premium KFELS 8500 Series (7) Drillships (8) Semisubmersibles (4) Jackup Mod V-A,B + Super A (13) Shipyard Common Equipment Training Repair & Maintenance Spare…
  17. Howard Weil Energy Conference – Ensco Plc – slide 17
    Standardization Repeat Customers See the Benefits ENSCO ENSCO ENSCO ENSCO ENSCO ENSCO ENSCO 8500 8501 8502 8503 8504 8505 8506 18
  18. Howard Weil Energy Conference – Ensco Plc – slide 18
    Success of the ENSCO DS Series BP Has Contracted 3 Drillships ENSCO DS-3: U.S. Gulf of Mexico ENSCO DS-4: Brazil / U.S. GOM ENSCO DS-6: Angola 19
  19. Howard Weil Energy Conference – Ensco Plc – slide 19
    Safety, Health & Environment Total Recordable Incident Rate Record TRIR in 2013 1.2 Zero-incident goal 1.0 STOP work authority 0.8 Comprehensive training 0.6 Quality control and audit 0.4 Dedicated safety 0.2 management systems…
  20. Howard Weil Energy Conference – Ensco Plc – slide 20
    Competency Assurance Program Commitment to Employee Development International Association of Drilling Contractors (IADC) has awarded accreditation to Ensco training programs Focus on safety and efficiency of operations Defined…
  21. Howard Weil Energy Conference – Ensco Plc – slide 21
    Supply Considerations Rigs under construction 27 new floaters and 32 new jackups to be delivered in 2014 13 uncontracted floaters and 24 uncontracted jackups Aging global fleet 55% of jackups and 37% of floaters are older than…
  22. Howard Weil Energy Conference – Ensco Plc – slide 22
    Demand Considerations Marketed utilization for global fleet 95% for floaters 94% for jackups New discoveries lead to additional appraisal and developmental drilling 70+ new discoveries per year on average since 2009…
  23. Howard Weil Energy Conference – Ensco Plc – slide 23
    Demand Considerations Stable commodity prices above the economic breakeven for our customers Brazil to develop pre-salt basins Energy reform in Mexico to expand floater market Customer demand more diversified NOCs driven by…
  24. Howard Weil Energy Conference – Ensco Plc – slide 24
    Estimated Capital Expenditures billions Note: Final rig enhancement and sustaining project capital expenditure budgets for 2015 2017 TBD once budgets are completed Sustaining 0.30 200 million of rig enhancement capex to be…
  25. Howard Weil Energy Conference – Ensco Plc – slide 25
    Summary Top 5% dividend yield S&P 500 Strong balance sheet and capital management flexibility 1 in customer satisfaction New ultra-deepwater rigs and largest premium jackup fleet Global presence Safety and operational…
  26. Howard Weil Energy Conference – Ensco Plc – slide 26
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