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Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc

Atwood Oceanics Inc · Jun 18, 2014 · 20 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. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 1
    Tudor Pickering Holt & Co Hotter N Hell Energy Conference June 18, 2014 Rob Saltiel President and CEO Atwood Oceanics, Inc. Atwood Advantage 1
  2. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 2
    Investment Thesis 3
  3. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 3
    Atwood Oceanics Investment Thesis Modern, high quality rig fleet 6 UDW floaters and 3 high-specification jackups delivered from 2011 Industry-leading operations performance and financial returns Superior safety, revenue efficiency,…
  4. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 4
    Modern, High Quality Fleet - 4.5 billion Investment in Expanding our High Specification Rig Fleet 2015 EBITDA: Approximately 80%1 derived from UDW floaters and Atwood Mako high specification jackups Atwood Manta Atwood Orca…
  5. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 5
    Modern, High Quality Fleet - Bifurcation Why the New Rigs will Rule A- Class Typical 5th Atwood Advantage Specification Drillship Gen Drillship Max Water Depth (Ft) 12,000 10,000 Max Drilling Depth 40,000 35,000 (Ft) Variable…
  6. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 6
    Modern, High Quality Fleet - Revenue-weighted Age of Fleet DO RIG NE ESV RDC ATW 30 25 Fleet Age (Years) 20 15 10 5 0 4Q10 2Q11 4Q11 2Q12 4Q12 2Q13 4Q13 2Q14 4Q14 2Q15 4Q15 2Q16 4Q16…
  7. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 7
    Industry-Leading Operations Performance and Financial Returns - Achieving Top-Tier Execution Value Drivers Revenue Cost Project Key Enablers Efficiency Control Management - Centralized maintenance and technical support 2011 -…
  8. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 8
    Industry-Leading Operations Performance and Financial Returns - Safety Performance - Fiscal Year 2008-2013 Total Recordable Incident Rate Lost Time Incident Rate 1.2 0.40 0.35 1.0 1.05 0.30 0.8 0.80 0.25 0.26 0.6 0.68 0.67 0.20…
  9. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 9
    Industry-Leading Operations Performance and Financial Returns - Fleet Revenue Efficiency 99% 97% 95% 95% 95% 93% 92% 92% 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 Source: Atwood Oceanics Financial…
  10. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 10
    Industry-Leading Operations Performance and Financial Returns - Net Income Margin trailing 8 quarters 35% 32% 31% 30% 28% 25% 21% Peer Group Average: 21% 20% 18% 14% 15% 15% 10% 5% 0% ATW SDRL** ESV DO NE RDC RIG*…
  11. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 11
    Industry-Leading Operations Performance and Financial Returns - Return on Capital Employed 30% 25% 20% 16% 15% 14% 13% 11% 10% 11% 11% 11% 9% 9% 8% 9% 10% 10% 5% 5% 0% RDC RIG NE ESV DO SDRL ATW 2014 2015 Source: FactSet…
  12. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 12
    Industry-Leading Operations Performance and Financial Returns - Consensus Earnings Reliability Earnings revisions influence stock price performance 2014 EPS Estimates 2014 Stock Price Performance* 10% RIG ESV NE DO RDC ATW…
  13. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 13
    Market Snapshot - Floater and Jackup Markets Ultra-Deepwater Deepwater High-Spec Jackups Atwood Advantage Atwood Falcon Atwood Mako Strong, sustained oil price 88% of UDW Floaters Continued high utilization in all operating in…
  14. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 14
    Earnings Visibility, Predictability and Built-in Growth - Atwood Fleet Contract Status - (by calendar year) 2014 2015 2016 Rig Class/Rig Customer Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ultra-Deepwater Drillships 409K Atwood Advantage…
  15. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 15
    Earnings Visibility, Predictability and Built-in Growth - Revenue Backlog Analysis as of June 1, 2014 Billions By Year By Customer Type 1,600 1,400 1,400 1,200 1.2BN 0.9BN 1,000 1,100 800 600 1.3BN 400 460 480 200 -…
  16. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 16
    Earnings Visibility, Predictability and Built-in Growth - Steady Revenue and Earnings Growth: 2008 - 2016 Revenue Net Income Millions Millions 2,000 600 483 1,537 500 1,600 1,190 400 1,200 339 300 272 257 800 787 215 651…
  17. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 17
    Earnings Visibility, Predictability and Built-in Growth - Planned Capital Expenditures Fully Financed Millions 1.5 billion1 in remaining total 800 capital expenditures as of June 1, 2014 Approximately 1.7 billion in 600…
  18. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 18
    Summary 19
  19. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 19
    Atwood Investment Thesis Fleet Age and Quality Backlog and Cash Flow Visibility Strong Balance Sheet with Significant Liquidity Revenue and Net Income Growth Operational Excellence Leading to Best in Class Margins 20
  20. Tudor Pickering Holt & Co Hotter N Hell Energy Conference – Atwood Oceanics Inc – slide 20
    Thank You www.atwd.com www.atwd.com 21

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