Skip to main content DNB European Roadshow – Noble Corporation plc Investor Presentation | Shale Experts
Loading...
Pm

DNB European Roadshow – Noble Corporation plc

Noble Corporation plc · Sep 9, 2019 · 24 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. DNB European Roadshow – Noble Corporation plc – slide 1
    DNB European Roadshow September 9-10, 2019
  2. DNB European Roadshow – Noble Corporation plc – slide 2
    Discussion points 3
  3. DNB European Roadshow – Noble Corporation plc – slide 3
    A premium fleet of floating and jackup rigs with strong contract coverage Average Fleet Age 6 Years(1) 8 4 13 Drillships Semisubmersibles Jackups 1 0 1 2 1 7 13 Contracted Idle warm Idle cold (1) Excludes 1 standard-duty…
  4. DNB European Roadshow – Noble Corporation plc – slide 4
    Revenues diversified by region and rig type 2Q 2019 YTD Revenues 576 Million Total Revenue by Year 27% Fleet Operating Days By Region ( Billions) 41% Revenue 1.5 8,000 EBITDA 6,830 1.2 7,000 6,448 1.07 - 1.1 5,727 1.09…
  5. DNB European Roadshow – Noble Corporation plc – slide 5
    Strong backlog anchored by excellent customer base Current Backlog at 2.17 Billion(1) Backlog by Customer ( Billions) 1.1 Other 2Q Actual Equinor 7.6% 8.6% (Remaining) 0.808 ExxonMobil .532 11.7% Shell 0.505 49.4%…
  6. DNB European Roadshow – Noble Corporation plc – slide 6
    Marketing Update 7
  7. DNB European Roadshow – Noble Corporation plc – slide 7
    Successful marketing strategy Contract term Striking a balance between long/short exposure Geographic placement Right rig in the right region Customer mix Operators with large portfolios and expansive geographic footprints…
  8. DNB European Roadshow – Noble Corporation plc – slide 8
    Jackup fleet contract coverage remains strong 12-month forward contract coverage (1) (2) Utilization 100% 98% 93% 94% 93% 27% 81% 80% 75% 75% 73% 65% 50% 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2017 2018 2019 Contracted Available…
  9. DNB European Roadshow – Noble Corporation plc – slide 9
    Excellent near-term contract exposure (1) Noble Joe Knight Oct 2022 Noble Scott Marks Jul 2022 (1) Noble Johnny Whitstine Mar 2022 Noble Roger Lewis Mar 2022 Noble Lloyd Noble Nov 2020 100% Noble Tom Prosser Aug 2020 Noble…
  10. DNB European Roadshow – Noble Corporation plc – slide 10
    Tighter jackup capacity driving dayrate appreciation Since Fourth Quarter 2017 North Sea +80% to 90% Mid East +50% to 70% Australia +15% to 25% Source: Noble Corporation plc 11
  11. DNB European Roadshow – Noble Corporation plc – slide 11
    Floating fleet days under contract are rising 12-month forward contract coverage (1), (2) (2) Utilization 100% 89% 80% 24% 75% 75% 61% 64% 61% 61% 57% 76% 50% 25% 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2017 2018 2019 Contracted…
  12. DNB European Roadshow – Noble Corporation plc – slide 12
    Advantageously positioned in prolific Western Hemisphere Noble Globetrotter II Sep 2023 Noble Globetrotter I Jul 2022 Noble Bully II Apr 2022 Noble Bob Douglas Apr 2021 89% Noble Don Taylor Oct 2020 (2) Noble Tom Madden Sep…
  13. DNB European Roadshow – Noble Corporation plc – slide 13
    Early UDW dayrate improvement is visible 49% Cumulative improvement in overall dayrate for Noble Don Taylor UDW Dayrates 350 300 250 200 150 100 May-17 May-18 May-19 Feb-17 Feb-18 Feb-19…
  14. DNB European Roadshow – Noble Corporation plc – slide 14
    Financial Update 15
  15. DNB European Roadshow – Noble Corporation plc – slide 15
    Financial priorities Maintain strong liquidity position Large and recently amended RCF with 2023 maturity De-leveraging through FCF generation and capturing discounted debt opportunities Rising utilization and dayrates and lower…
  16. DNB European Roadshow – Noble Corporation plc – slide 16
    Manageable debt maturities through 2022 (millions) 1600 Undrawn Revolver Commitments 1400 Revolver Borrowing Unsecured Notes 1200 Guaranteed Notes NJW Seller's Loan 1,250 NJK Seller's Loan 1000 1,597 800 1,673 600 629 400…
  17. DNB European Roadshow – Noble Corporation plc – slide 17
    Financial priorities Maintain strong liquidity position Large and recently amended RCF with 2023 maturity De-leveraging through FCF generation and capturing discounted debt opportunities Rising utilization and dayrates and lower…
  18. DNB European Roadshow – Noble Corporation plc – slide 18
    Industry Assessment 19
  19. DNB European Roadshow – Noble Corporation plc – slide 19
    Encouraging indicators of activity Project economics supported by reduced costs and technological advancement Improving access to promising regions Exploration activity on the rise Geologic success mounting Additional fleet…
  20. DNB European Roadshow – Noble Corporation plc – slide 20
    Expanding activity in multiple regions as evidenced by improving utilization Jackup Utilization Floater Utilization 82% 81% 78% 76% 74% 75% 6/18 12/18 6/19 North Sea 6/18 12/18 6/19 Source: IHSMarkit RigPoint Source: IHSMarkit…
  21. DNB European Roadshow – Noble Corporation plc – slide 21
    Final thoughts why Noble Excellent regional positioning of a premium fleet Outstanding operations execution Excellent customer base with increasing geographic footprint Expanding contract coverage through 2020 Strong revenue…
  22. DNB European Roadshow – Noble Corporation plc – slide 22
    (1) Illustrative EBITDA generation from active fleet EBITDA in millions Floater Dayrates 250k 325k 400k 100k 410 602 794 Jackup Dayrates 150k 592 784 976 200k 774 966 1,158 (1) EBITDA calculation for 9 active…
  23. DNB European Roadshow – Noble Corporation plc – slide 23
    Final thoughts why Noble Excellent regional positioning of a premium fleet Outstanding operations execution Excellent customer base with increasing geographic footprint Expanding contract coverage through 2020 Strong revenue…
  24. DNB European Roadshow – Noble Corporation plc – slide 24
    Noble Corporation plc 10 Brook Street London W1S 1BG, England www.noblecorp.com Investor Relations Jeffrey L. Chastain Vice President Investor Relations & Corporate Communications 281-276-6383 Enterprise Value (as of 9/6/19)…

From the store

Browse maps, data & reports in the Shale Experts store