Skip to main content Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc Investor Presentation | Shale Experts
Loading...
Pm

Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc

Atwood Oceanics Inc · Feb 13, 2014 · 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. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 1
    Credit Suisse 19th Annual Summit Energy Conference February 13, 2014 Rob Saltiel President and CEO Atwood Oceanics, Inc. Atwood Advantage 1
  2. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 2
    Investment Thesis 3
  3. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 3
    Atwood Oceanics Investment Thesis Modern, high quality rig fleet 6 UDW floaters and 3 high-specification jackups delivered from 2011 Industry-leading margins and returns Early cycle capital investment Superior revenue efficiency…
  4. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 4
    Modern, High Quality Fleet - 4.5 billion Investment in Expanding our High Specification Rig Fleet 2015 EBITDA: Approximately 80%1 derived from UDW floaters and Atwood Mako high specification jackups Atwood Manta Atwood Orca…
  5. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 5
    Modern, High Quality Fleet - Bifurcation Why the New Rigs will Rule A- Class Typical Specification Drillship 5th Gen Atwood Advantage Floater Max Water Depth (Ft) 12,000 10,000 Max Drilling Depth (Ft) 40,000 35,000 Variable Deckload…
  6. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 6
    Modern, High Quality Fleet - Revenue-weighted Age of Fleet DO RIG NE ESV RDC ATW 30 25 Fleet Age (Years) 20 15 10 5 0 2010 2011 2012 2013 2014 2015 7 Source: Johnson Rice & Company, January 2014
  7. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 7
    Industry-leading Margins and Returns - Achieving Top-Tier Execution Value Drivers Revenue Cost Project Key Enablers Efficiency Control Management - Centralized maintenance and technical support 2011 - Consistent standards -…
  8. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 8
    Industry-leading Margins and Returns - EBITDA Margin Comparison RIG ESV NE DO RDC ATW 70% 60% 50% 40% 30% 20% FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 Source: Tudor, Pickering, Holt & Co. January 2014 9
  9. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 9
    Industry-leading Margins and Returns - Net Income Margin trailing 8 quarters 40% 35% 34% 30% 27% 27% 25% 24% 20% 17% 15% 13% 15% 10% 5% 0% ATW ESV SDRL DO NE RDC RIG* Source: SEC Financials Trailing 8 Quarters Net…
  10. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 10
    Industry-leading Margins and Returns - Consensus Earnings Reliability Earnings revisions influence stock price performance 2014 EPS Estimate Revisions 2013 Stock Price Performance RIG ESV NE DO RDC ATW 20% 1.05 15% 1.00 10%…
  11. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 11
    Market Snapshot - Floater and Jackup Markets Ultra-Deepwater Deepwater High-Spec Jackups Atwood Advantage Atwood Falcon Atwood Mako E & P project delays lead to Bifurcation effect to Continued high lack of contract awards…
  12. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 12
    Earnings Visibility, Predictability and Built-in Growth - Atwood Fleet Contract Status - (by calendar year) 2014 2015 2016 Rig Class/Rig Customer Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ultra-Deepwater Drillships 409K Atwood Advantage…
  13. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 13
    Earnings Visibility, Predictability and Built-in Growth - Revenue Backlog Analysis as of February 1, 2014 Millions By Year By Customer Type 1,400 1,200 1,230 1,000 1.3BN 0.9BN 960 800 829 600 400 1.3BN 200 0…
  14. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 14
    Earnings Visibility, Predictability and Built-in Growth - Steady Revenue and Earnings Growth: 2008 - 2016 Revenue Net Income Millions Millions 2,000 600 570 1,788 500 1,600 385 1,265 400 1,200 300 272 257 800 787 215 651…
  15. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 15
    Earnings Visibility, Predictability and Built-in Growth - Trailing 4 Quarters EPS Growth, Indexed to Calendar Year 2010 250 ATW T4Q EPS 200 Peer T4Q EPS 150 Index 100 50 0 16 Source Johnson Rice & Company, January…
  16. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 16
    Earnings Visibility, Predictability and Built-in Growth - Planned Capital Expenditures Fully Financed Millions 1.6 billion1 in remaining total 800 capital expenditures as of February 1, 2014 Approximately 1.7 billion in 600…
  17. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 17
    Summary 18
  18. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 18
    Atwood Investment Thesis Modern, High Quality Rig Fleet Strong Balance Sheet providing Industry-Leading Financial Flexibility Margins Superior Solid Earnings and Shareholder FCF Growth Returns through the Cycle…
  19. Credit Suisse 19th Annual Sumitt Energy Conference – Atwood Oceanics Inc – slide 19
    Thank You www.atwd.com www.atwd.com 20

From the store

Browse maps, data & reports in the Shale Experts store