Agenda 1. Company Overview 2. Market Outlook 3. Summary 4. Q&A 3
1. Company Overview
Awilco Drilling PLC Autonomous Aberdeen-based drilling WilPhoenix contractor, established in December Friede & Goldman L-907 Enhanced 2009 Pacesetter Built in 1982 Owning and operating 2 recently Upgraded in 2011 refurbished semi…
Contract Status Backlog USD 488 million (incl. LOI) AWILCO DRILLING PLC CONTRACT STATUS 2014 April May June July Aug Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec WILHUNTER : Suncor 3 15 ,0 0 0 Hess…
Operational Performance Good operational performance in 2H2012 with about 95 % revenue efficiency Operational performance in Q1 2013 slightly lower but still in line with guidance Opex in line with guidance Positive customer…
Dividend Prospects All free cash flow over a robust cash buffer of approximately USD 35 million for operational requirements and capex commitments to be distributed In the case of attractive growth opportunities the company will…
2. Market Outlook
Dayrates, Duration and Leadtime Increasing in the UK Market Source: Fearnley Fonds and IHS Petrodata 10
The UK Market is close to Sold Out until 2015 UK FLOATER MARKET CONTRACT STATUS 2014 2015 Company Rig name Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov…
Demand Outstrips Supply in 2014 Unmet demand in 2014 is likely to push work into 2015 12
Why do we expect the UK market to be tight beyond 2014 Sustained high oil price under-pinning operator confidence UK market has barriers to entry UK Government encouraging activity through licensing Operators increasing activity…
3. Summary
Summary Market fundamentals remain positive Solid contract backlog of USD 488 million Continued focus is on operational efficiency Free cash flow to be distributed, dividend payments expected to start in Q2 2013 Evaluating…
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