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Q2 2014 Presentation – Awilco Drilling Plc

Awilco Drilling Plc · Aug 13, 2014 · 18 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. Q2 2014 Presentation – Awilco Drilling Plc – slide 1
    Q2 2014 Presentation Oslo, 13th of August 2014
  2. Q2 2014 Presentation – Awilco Drilling Plc – slide 2
    Agenda 1. Highlights 2. Q2 2014 Financial Results 3. Operational Update 4. Market Outlook 5. Summary 6. Q&A 3
  3. Q2 2014 Presentation – Awilco Drilling Plc – slide 3
    1. Highlights
  4. Q2 2014 Presentation – Awilco Drilling Plc – slide 4
    Highlights Announcement of USD 1.15 dividend Total Q2 Revenue USD 66.3 million; EBITDA USD 42.4 million Q2 Opex per rig approx. USD 94,600 per day Total contract backlog at end of Q2 was USD 642 million Revenue efficiency…
  5. Q2 2014 Presentation – Awilco Drilling Plc – slide 5
    2. Q2 2014 Financial Results
  6. Q2 2014 Presentation – Awilco Drilling Plc – slide 6
    Q2 2014 Income Statement Condensed statement of comprehensive income in USD thousands, except earnings per share YTD YTD Q2 2014 30.06.14 Q2 2013 30.06.13 (unaudited) (unaudited) (unaudited) (unaudited) Contract revenue 65,075…
  7. Q2 2014 Presentation – Awilco Drilling Plc – slide 7
    Q2 2014 Balance Sheet Condensed statement of financial position in USD thousands 30.06.2014 31.12.2013 (unaudited) (audited) Rigs, machinery and equipment 252,796 245,279 Deferred tax asset 3,363 2,763 256,159 248,042 Trade…
  8. Q2 2014 Presentation – Awilco Drilling Plc – slide 8
    3. Operational Update
  9. Q2 2014 Presentation – Awilco Drilling Plc – slide 9
    Contract Status Current Backlog USD 616 million* CONTRACT STATUS 2014 2015 Aug Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec WILHUNTER : Hess 385,000 Yard WILPHOENIX: Premier Oil Apache 387,500…
  10. Q2 2014 Presentation – Awilco Drilling Plc – slide 10
    Operational Performance Very good operational performance in Q2 with 99.5% operational uptime Continued positive customer feedback Opex in Q2 in line with 2014 guidance Social tax for offshore crew payable effective from 1 April…
  11. Q2 2014 Presentation – Awilco Drilling Plc – slide 11
    Dividend Distribution Announcement of dividend payable in Q3 of USD 1.15 per share Dividend payable on or around the 19th September 2014 Share will trade ex-dividend on 19th August 2014, the record date will be 21st August Future…
  12. Q2 2014 Presentation – Awilco Drilling Plc – slide 12
    4. Market Outlook
  13. Q2 2014 Presentation – Awilco Drilling Plc – slide 13
    Attractive UK Dayrates, but Low Contracting Activity in the Quarter Source: Fearnley Fonds and IHS Petrodata 14
  14. Q2 2014 Presentation – Awilco Drilling Plc – slide 14
    Shorter Contracts and Lead Times Anticipated in the UK Market UK FLOATER MARKET CONTRACT STATUS 2015 2016 Company Rig name 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…
  15. Q2 2014 Presentation – Awilco Drilling Plc – slide 15
    UK Market Anticipated to Return to Higher Activity Levels in 2016 Sustained high oil price and increased operator financial discipline anticipated to increase global operator investments from 2016 onwards Potential for short term…
  16. Q2 2014 Presentation – Awilco Drilling Plc – slide 16
    5. Summary
  17. Q2 2014 Presentation – Awilco Drilling Plc – slide 17
    Summary Announcement of dividend payable in Q3 of USD 1.15 Revenue efficiency during Q2 was 99.7%, continued focus on operational efficiency Solid current contract backlog of USD 616 million, with 100 % contract coverage through…
  18. Q2 2014 Presentation – Awilco Drilling Plc – slide 18
    Q&A

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