Important information This presentation and its enclosures and appendices (hereinafter jointly referred to as the presentation) have been prepared by Sevan Drilling ASA (Sevan Drilling or the Company) exclusively for information…
Third quarter highlights Q3 Financial highlights Operating revenue USD 69.8 million EBITDA of USD 19.7 million Net loss USD 21.1 million Earnings per share loss of USD 0.04 Other highlights Q3 fleet technical utilization…
Financial Update 4
Income Statement Three months Three months Income statement Unaudited figures in USD million ended 30/09/2014 ended 30/09/2013 Operating revenue 69.8 64.2 Technical utilization 64% versus Operating expense -47.8 -37.2 93% Q3 2013…
Company update Operational performance Fleet technical utilization 64% Avg. OPEX 173,000 per day 93% 95% 92% 92% 90% 83% Sevan Driller 76.5% 64% Subsea equipment repairs caused by running tools Sevan Brasil 83.7% Riser…
Balance sheet As at As at Balance sheet items Unaudited figures in USD million 30/09/2014 30/09/2013 ASSETS Drilling rigs 1,949.3 1,916.6 Other fixed assets 1.1 19.2 Assets Other non-current assets 27.9 40.4 Total non-current…
Company Update 8
Company update Sevan Developer Construction completed Q4 2014 Shipyard agreement - Deferred delivery Agreed a deferred delivery up to three years Agreement Options Security in investment through deferral Rig remains at shipyard…
Company update Sevan Louisiana Events Financing Downtime from damage to BOP and Sevan Drilling will raise USD 180 to tensioners 200 million secured subordinated debt Reached agreement with LLOG to avoid termination Capital…
Company update Contract backlog * 2014 2015 2016 2017 2018 Sevan Driller Petrobras, Brazil Q2 2016 (2010) Sevan Brasil Petrobras, Brazil Q2 2018 USD 1.2 billion (2012) backlog contract revenue on 3 rigs Sevan Louisiana LLOG,…
Concluding remarks 12
Summary & Outlook 1 Uptime - Improve utilizations back to acceptable levels 2 Financing - Close potential financing with support of Seadrill 3 Migration - Continue progress on the corporate migration plan 4 Marketing -…
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