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Cowen Ultimate Energy Conference – TGS

TGS · Dec 2, 2014 · 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. Cowen Ultimate Energy Conference – TGS – slide 1
    TGS Cowen Ultimate Energy Conference, 02 December 2014 Will Ashby Director, Finance Western Hemisphere & Investor Relations
  2. Cowen Ultimate Energy Conference – TGS – slide 2
    This is TGS Leading provider of multi-client seismic data and related geoscientific products to TGS Main Offices the oil & gas industry Main offices: Houston and Oslo Regional offices: London, Perth, Calgary, Singapore and Rio de…
  3. Cowen Ultimate Energy Conference – TGS – slide 3
    TGS Competitive Advantage Asset light business model Flexibility Investment decisions not driven by vessel utilization Vendor neutral philosophy allows access to capacity and technology as needed Quality Global Balance sheet…
  4. Cowen Ultimate Energy Conference – TGS – slide 4
    Diversified Portfolio With Different Characteristics Characteristics TGS multi-client project portfolio Return targets + 1.7X 2.0X 2.5X + 2.5X Prefunding 70 120% 40 60% 20 40% requirements Awarded acreage Mainly open…
  5. Cowen Ultimate Energy Conference – TGS – slide 5
    TGS Performs in all Cycles EBIT margin vs. Seismic peers Return on Capital Employed 80% 70% 60% 50% 40% 30% 20% 10% 0% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 ROCE…
  6. Cowen Ultimate Energy Conference – TGS – slide 6
    Financials 7
  7. Cowen Ultimate Energy Conference – TGS – slide 7
    Key Financials Net Revenues EBIT before non-recurring items 281 211 210 191 271 222 205 190 140 50% 300 13 10 120 250 40% 11 100 29 12 9 8 9 200 30% 80 204 150 218 137 60 118 120 137 20% 127 155 138 130 89 98 94 100 40 80 82 71…
  8. Cowen Ultimate Energy Conference – TGS – slide 8
    Q3 2014 Net Revenues vs. Net Book Value per Vintage 3% 60% 50% 48% 40% 38% 63% 30% 28% 27% 20% 19% 16% 60% 10% 5% 20% 4% 4% 4% 4% 40% 18% 2% 1% 13% 18% 0% 0% 0% pre-2010 2010 2011 2012 2013 2014 WIP…
  9. Cowen Ultimate Energy Conference – TGS – slide 9
    Investments per Vintage (at end Q3 2014) 600 522 500 100% 400 381 386 100% 69% 299 300 270 60% 200 51% 153 37% 100 40% 2% 20% 10% 0% 8% 0 2010 13% 2011 2012 18% 2013 2014 WIP 0% Original…
  10. Cowen Ultimate Energy Conference – TGS – slide 10
    Strong Balance Sheet Backing TGS Strategy Other 160 317 Cash balance per Q3 2014 represents Current liabilities Goodwill 84 Non-current Cash 264 75 liabilities 264 MUSD Dividend of 145 MUSD paid in June 2014 Receivables 365…
  11. Cowen Ultimate Energy Conference – TGS – slide 11
    Strong Cash Generation Supports Dividend Growth Dividend per share (NOK) and Dividend Yield* 2014 Dividend Yield vs. OSX Index* 9 8.5 5.0% 9.0 8 8.0 Dividend yield % 8 4.8% 8.0 7.3 4.6% 7.0 7 6.0 6 4.9 4.4% 5.0 6 5 4.2%…
  12. Cowen Ultimate Energy Conference – TGS – slide 12
    2014 Operational Highlights 13
  13. Cowen Ultimate Energy Conference – TGS – slide 13
    Geographically Diverse portfolio of 3D Projects 2014 3D Acquisition Francisco 6,700 km2 long-offset, deep water Gulf of Mexico Olho de Boi, Brazil 5,000 km2 in partnership with Dolphin HFCE14 3,100 km2 Hoop Basin P-CableTM approx.…
  14. Cowen Ultimate Energy Conference – TGS – slide 14
    Active year for 2D Seismic Projects 2014 2D Acquisition Newfoundland Labrador - 30,000 km partnership with PGS Snipe Phase 52 - 12,000 km long offset ultra- deep water Gulf of Mexico NBR14 - 9,300 km long offset extension, eastern…
  15. Cowen Ultimate Energy Conference – TGS – slide 15
    TGS Continues to Invest Onshore North America 2014 Land Acquisition Cheyenne 1,800 km2 multi-client 3D project in Colorado focused on liquid plays in Mississippian and Pennsylvanian intervals Rush Creek 440 km2 multi-client 3D…
  16. Cowen Ultimate Energy Conference – TGS – slide 16
    Enhancing Value through Technology TGS applies appropriate technologies to address imaging challenges associated with specific geologies and operating environments TGS acquires complementary data products to expand and enhance its…
  17. Cowen Ultimate Energy Conference – TGS – slide 17
    Well Log Coverage by Country TGS owns and manages a global well log database Strong synergies with multi-client seismic data business 18
  18. Cowen Ultimate Energy Conference – TGS – slide 18
    Outlook 19
  19. Cowen Ultimate Energy Conference – TGS – slide 19
    Outlook Macro Outlook Near-term uncertainty in exploration spending has been increased by negative oil price development Likely that energy companies will continue their efforts to reduce capital expenditures and become more…
  20. Cowen Ultimate Energy Conference – TGS – slide 20
    License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central GOM Mar 2015 (5-Year Plan) Madagascar 2015 (expected) Norway APA awards 1H 2015, next round Western GOM Aug…
  21. Cowen Ultimate Energy Conference – TGS – slide 21
    Backlog Historical Backlog (MUSD) 2010 - 2014 300 250 200 150 281 242 260 211 213 224 100 188 185 178 134 153 143 146 117 110 124 50 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2010 2011 2011 2011 2011 2012…
  22. Cowen Ultimate Energy Conference – TGS – slide 22
    NSA Capacity Secured for 2014 EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CGG Alize Gulf of Mexico BGP Prospector Benin Sanco Swift Brazil JV Polar Duchess Australia Sanco Sword Aus 3D & WAZ Geo Caspian…
  23. Cowen Ultimate Energy Conference – TGS – slide 23
    Summary 2014 on track with Q3 revenues of 190 MUSD Q3 2014 Operating profit of 71 MUSD, 38% of net revenues Q3 2014 multi-client investments of 93 MUSD (55% prefunding) Strong backlog entering into 2015 Near term uncertainty in…
  24. Cowen Ultimate Energy Conference – TGS – slide 24
    Thank you Will Ashby Director, Finance Western Hemisphere & Investor Relations 2013 TGS-NOPEC Geophysical Company ASA. All rights reserved.

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