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Capital One Securities 9th Annual Energy Conference – Noble Corporation plc

Noble Corporation plc · Dec 11, 2014 · 27 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. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 1
    Jeffrey L. Chastain Vice President Investor Relations and Corporate Communications Capital One Securities 9th Annual Energy Conference December 11, 2014
  2. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 2
    Noble Highlights Established name in drilling dating back to 1921 with offshore operations since 1940 Spin-off of 42 standard capability rigs largely completes fleet transformation plan 35-rig fleet focused predominately on…
  3. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 3
    Financial Performance Through the Cycle Unaudited ProForma Financials ( millions) Total Revenues ( millions) Operating Income 4,000 1,000 (1) 3,219 3,000 728 694 2,500 622 2,200 2,428 2,000 500 1,400 272 1,000 0 0…
  4. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 4
    Company Overview Global Drilling Presence with Established Deep and Shallow Water Experience Global Fleet Composition 11 Semisubmersibles Corporate Headquarters - UK 9 Drillships U.S. Operations 15 Jackups including 2 under…
  5. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 5
    Company Overview Geographically Diversified Revenues and Strong Customer Base YTD September 30, 2014 Total Revenues Europe / 2.4 Billion Mediterranean Africa 4% 62% Middle & 8% Far East 17% 19% 19% 52% 19% Gulf of…
  6. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 6
    Improved Competitive Positioning
  7. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 7
    Successful Transition to Premium Asset Base Revenue Dominated by High-Spec Assets Contract Drilling Revenues by Asset Type 2009(A) 2016(P) 2016(P) 5.8% 20.5% 21.1% 78.9% 58.4% 10.8% 4.5% Ultra Deepwater Other…
  8. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 8
    Substantially Reduced Average Fleet Age Fleet Age Comparison 40 31 Years 30 27 30 20 27 20 16 25 12 13 25 10 4 20 0 Seadrill Atwood Noble Rowan Ensco Noble Diamond (pre-spin) 15 13 10 9 5 0 (1)(2) (3)…
  9. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 9
    Large Backlog Providing Excellent Visibility Pro Forma Backlog At September 30, 2014: 10.6 Billion Backlog by Client Other Estimated Annual Contribution 10.2% 4 Anadarko 4.9% 3.1 Statoil 3 6.0% 2.2 2.2 Saudi 2 Aramco…
  10. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 10
    Limited Floating Rig Exposure to Near-Term Market, With Availability in Outer Years Percentage of Available Operating Days Floating Rigs 2014 2015 2016 26% 31% 54% 52% 48% 74% 69% Committed to Contracts Uncommitted to…
  11. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 11
    Near-Term Market Exposure Floating Fleet Rig Location Comment Cold stacked Noble Homer Ferrington E. Med Not active in 2015 Shipyard program Noble Paul Wolff SEA Not active in 2015 Shipyard Noble Max Smith SEA Evaluating…
  12. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 12
    Limited Jackup Exposure Through 2015 Percentage of Available Operating Days 2014 2015 2016 14% 79% 23% 31% 77% 69% 86% 45% Note: Dashed line indicates recently signed contracts on the Noble Gene House and Noble Joe…
  13. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 13
    20 Floating Rigs Contract Visibility 8 rigs contracted to mid 2017 or later, including 3 rigs contracted beyond 2020 (1) (1) January July January July January July 2014 2014 2015 2015 2016 2016 (1) Newbuild…
  14. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 14
    15 Jackup Rigs Contract Visibility (1) Average contract length (1) of 24 months per rig (1) (1) (1) (1) January July January July January July 2014 2014 2015 2015 2016 2016 (1) Newbuild addition reflects…
  15. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 15
    Offshore Market Status Excess rig supply and declining utilization in floater sector currently leading dayrates lower, although a leveling of rates could occur in first half of 2015 16
  16. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 16
    Ultra-Deepwater vs. Deepwater Utilization 100% 95% 93.37% 90% 85% 84.68% 80% 75% UDW Fixtures DW Fixtures Source: IHS RigPoint 17
  17. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 17
    Ultra-Deepwater vs. Deepwater Fixtures 800,000 700,000 600,000 500,000 400,000 300,000 200,000 UDW Fixtures DW Fixtures Source: IHS RigPoint 18
  18. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 18
    Offshore Market Status Excess rig supply and declining utilization in floater sector currently leading dayrates lower, although a leveling of rates could occur in first half of 2015 Jackup sector has been stable through first half…
  19. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 19
    Jackups Utilization High Specification vs. Standard Specification 100% 95.00% 95% 90% 88.41% 85% 80% 75% High Spec JU's (After 2007) Standard Spec JU's (Before 2007) Source: IHS RigPoint 20
  20. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 20
    Jackup Fixtures - High Specification vs. Standard Specification 300,000 250,000 200,000 150,000 100,000 50,000 0 Standard Spec JU's (Before 2007) High Spec JU's (After 2007) Source: IHS RigPoint 21
  21. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 21
    Offshore Market Status Excess rig supply and declining utilization in floater sector currently leading dayrates lower, although a leveling of rates could occur in first half of 2015 Jackup sector has been stable through first half…
  22. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 22
    Capital Allocation Flexibility
  23. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 23
    Well-Timed Shipyard Program Winding Down 2013 2014 Globetrotter II Noble Noble Noble Noble Noble Don Taylor Bob Douglas Houston Colbert Sam Croft Tom Madden Noble Noble Noble Noble Noble Mick OBrien Regina Allen Sam…
  24. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 24
    Significant Aspect of Fleet Transformation 11 Billion in Capital Committed or Spent To Date New Rig Deliveries by Year and Newbuild Capex Newbuild Capex Rig Additions ( Millions) 7 2,000 Rigs Added: 12 Semis and Drillships 1.7…
  25. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 25
    Capital Allocation With Increased Clarity and Flexibility Intent to sustain dividend through industry pause 1.50/share Share repurchase program Existing authorization 4.8 million shares at Sept. 30 Seek shareholder approval for…
  26. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 26
    Noble is Favorably Positioned for Success Spin-off of standard-spec fleet is complete 35-rig fleet is younger, more versatile premium assets Well-timed newbuilds with exceptional program execution Excellent contracts in place,…
  27. Capital One Securities 9th Annual Energy Conference – Noble Corporation plc – slide 27
    Noble Corporation plc Devonshire House 1 Mayfair Place London W1J 8AJ England www.noblecorp.com Investor contacts: Jeffrey L. Chastain Vice President Investor Relations 281-276-6383 John S. Breed Director Investor Relations…

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