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Conference Call 3Q 2014 Results – Seadrill Limited

Seadrill Limited · Nov 26, 2014 · 21 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. Conference Call 3Q 2014 Results – Seadrill Limited – slide 1
    Conference Call 3Q 2014 Results November 26, 2014
  2. Conference Call 3Q 2014 Results – Seadrill Limited – slide 2
    Seadrill Third Quarter Call Agenda 1 Company Highlights Q3 2014 2 Contract Wins & Market Outlook 3 Financial Performance Highlights 4 Appendix: Seadrill Limited Financials 3
  3. Conference Call 3Q 2014 Results – Seadrill Limited – slide 3
    Company Highlights Q3 2014 Quarterly EBITDA (proforma consolidated) Seadrill Group generated consolidated EBITDA 900 865 842 788 of US842 million for the third quarter 2014 800 768 700 652 665 663 634 595 574 604 Economic…
  4. Conference Call 3Q 2014 Results – Seadrill Limited – slide 4
    Highlights Since Q2 Call Contracts Confirmation from Petrobras of approval for contract extensions for the West Eminence and West Taurus o Total revenue potential for the two extensions is US1.1 billion Confirmation from Petrobras…
  5. Conference Call 3Q 2014 Results – Seadrill Limited – slide 5
    Financial performance highlights Contract Wins & Market Outlook Appendix: Seadrill Limited Financials 6
  6. Conference Call 3Q 2014 Results – Seadrill Limited – slide 6
    Success with the Biggest Rig Contractor Libra Field Contracts 3 Year Contracts West Tellus and West Carina Backlog: US1.1 billion Petrobras Extensions 3 Year Contracts West Taurus and West Eminence Backlog: US1.1 billion New and…
  7. Conference Call 3Q 2014 Results – Seadrill Limited – slide 7
    Floaters US18.7 Billion Contract Backlog 2014 2015 2016 2017 2018 Unit Customer 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Draco - Newbuild West Dorado - Newbuild West Aquila - Newbuild West Libra - Newbuild West…
  8. Conference Call 3Q 2014 Results – Seadrill Limited – slide 8
    Jack-ups - US5.2 Billion Contract Backlog 2014 2015 2016 2017 Unit Customer 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Contracted HE Jack-ups West Epsilon Statoil US278,000 Uncontracted West Elara Statoil US351,000 US351,000…
  9. Conference Call 3Q 2014 Results – Seadrill Limited – slide 9
    Financial performance highlights Financial Performance Highlights 10
  10. Conference Call 3Q 2014 Results – Seadrill Limited – slide 10
    Financial Performance Highlights Q3 2014 Q2 2014 Q3 2013 Q3 2014 Proforma Proforma Proforma Stand alone Consolidated Consolidated Consolidated Total Operating Revenue US1,293 m US1,610 m US1,554 m US1,280 m Total Operating…
  11. Conference Call 3Q 2014 Results – Seadrill Limited – slide 11
    Balance Sheet Summary September June 30, 2014 30, 2014 Total Current Assets 3,422 3,185 Non-current assets Newbuildings 3,794 2,593 Drilling units 13,932 14,008 Other 6,239 6,818 Total non-current assets 23,965 23,419 TOTAL…
  12. Conference Call 3Q 2014 Results – Seadrill Limited – slide 12
    EBITDA Contribution 900 865 2 842 23 788 800 768 -48 207 713 224 700 164 665 663 634 618 612 595 604 600 573 579 575 574 560 493 US Millions 500 434 400 635 641 624 300 200 100 0 1Q10 2Q10…
  13. Conference Call 3Q 2014 Results – Seadrill Limited – slide 13
    Illustrative Funding Profile Unfunded Yard Instalments 2015 Funding Required 2,500 Floaters Jack-ups 2,000 West Rigel West Titan US Millions 1,500 West Mira West Proteus 1,000 West Rhea 500 West Tethys 0 2015 2016…
  14. Conference Call 3Q 2014 Results – Seadrill Limited – slide 14
    Core Assets 32 6th generation ultra-deepwater units 2 Midwater harsh environment semi- submersible rigs 29 High-specification jack-ups 3 Harsh environment jack-ups 3 Tender rigs Financial Investments 8.18% of SapuraKencana…
  15. Conference Call 3Q 2014 Results – Seadrill Limited – slide 15
    Appendix: Seadrill Limited Financials 16
  16. Conference Call 3Q 2014 Results – Seadrill Limited – slide 16
    Operating Income - Floaters Unaudited accounts in USD millions 3Q14 2Q14 1Q14 4Q13 Total operating revenues 842 852 813 1,030 Gain on Sale - - 440 - Vessel and rig operating expenses 298 263 271 370 Reimbursable expenses 39…
  17. Conference Call 3Q 2014 Results – Seadrill Limited – slide 17
    Operating Income Jack-up Rigs Unaudited accounts in USD millions 3Q14 2Q14 1Q14 4Q13 Total operating revenues 408 335 315 339 Vessel and rig operating expenses 184 142 130 148 Reimbursable expenses 14 11 9 11 Depreciation and…
  18. Conference Call 3Q 2014 Results – Seadrill Limited – slide 18
    Operating Income Total Seadrill Limited Unaudited accounts in USD millions 3Q14 2Q14 1Q14 4Q13 Total operating revenues 1,293 1,222 1,221 1,469 Gain on sale of assets - - 440 - Vessel and rig operating expenses 521 437 492 565…
  19. Conference Call 3Q 2014 Results – Seadrill Limited – slide 19
    Net Income Total Seadrill Limited Unaudited accounts in USD millions 3Q14 2Q14 1Q14 4Q13 Net operating income 461 476 890 568 Financial items and other income Interest income 2 32 11 8 Interest expense (114) (124) (118) (134)…
  20. Conference Call 3Q 2014 Results – Seadrill Limited – slide 20
    Balance Sheet - Assets September June March Unaudited accounts in USD millions 30, 2014 30, 2014 31, 2014 Current assets Cash and cash equivalents 638 543 912 Restricted cash 279 237 206 Marketable securities 878 933 1,072 Accounts…
  21. Conference Call 3Q 2014 Results – Seadrill Limited – slide 21
    Balance Sheet Liabilities & Shareholders Equity September June March 30, 2014 30, 2014 31, 2014 Current liabilities Current portion of long-term debt 1,689 2,147 1,662 Trade accounts payable 90 61 111 Other current liabilities…

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