Pareto Securities Oil & Offshore Conference Julie J. Robertson Chairman, President and CEO September 11, 2019
Discussion points 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…
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…
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%…
Marketing Update 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…
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…
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
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…
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…
Financial Update 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…
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…
Industry Assessment 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…
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…
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…
(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…
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…
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)…
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