2013 Annual General Meeting Steven L. Newman, President & CEO Zug, Switzerland May 17, 2013 www.deepwater.com
Financial Statement Overview Company Overview Value Creation Operations Capital deployment Assets Market Overview 3
Years ended December 31, (In USD millions, except per share data) 2012 2011(7) Revenues 9,196 8,027 Operating income (loss) 1,581 (4,762) Net loss attributable to controlling interest (219) (5,754) Earnings (loss) per share-diluted from…
Three months ended March 31, (In USD millions, except per share data) 2013 2012 Revenues 2,197 2,110 Operating income 473 371 Net income attributable to controlling 321 10 interest Earnings per share-diluted from 0.88 0.42 continuing…
December 31, (In USD millions) 2012 2011 (7) ASSETS Current assets 8,647 7,536 Property and equipment, net 20,880 20,788 Goodwill 2,987 3,217 Other assets 1,741 3,491 Total assets 34,255 35,032 LIABILITIES AND EQUITY Current…
Years ended December 31, (In CHF thousands) 2012 2011 Interest income CHF 49 CHF 6 Total income 49 56 Total expenses 71,256 100,254 Net loss CHF (71,207) CHF (100,198) * Derived from our financial statements, prepared in…
December 31, (In CHF thousands) 2012 2011 ASSETS Total current assets CHF 5,589 CHF 5,522 Property & equipment, net 414 694 Investment in affiliates 17,436,710 17,282,047 Other non-current assets 257,027 257,018 Total assets CHF…
Worlds largest offshore contract driller Largest fleet of high spec and midwater floaters Operates in most major markets worldwide Significant relationships across the customer spectrum Positioned to lead Premier position in…
By Asset Class By Customer 14% 35% 22% 55% 23% 4% 42% 3% 2% Ultra-Deepwater Deepwater Integrated NOC Independent Midwater High-Specification Jackups ADTI Other FY 2012 Revenues - 9.2 billion 13
Macondo Civil and criminal settlement agreements reached with DOJ comprising 1.4B paid over five years Phase 1 of trial concluded 4/17/13; parties to prepare and submit post-trial briefings over next 3 months Phase 2 of trial…
Continue to improve operational performance Maintain financial flexibility and strong balance sheet Execute asset strategy Resolution of remaining uncertainties Macondo Brazil Norway 15
We are focused on delivering superior operating performance: Revenue efficiency Technical improvements Improved contract terms Historic levels believed achievable; progress will be gradual, non-linear Rig out-of-service time…
Significant progress made in 2012 Operating Improvement Revenue efficiency improved to 93% from 91% in 2011 Full fleet: 95% in 3Q and 4Q Revenue efficiency improvement is non-linear (e.g. 1Q13) Utilization improved by 9% to 78%…
Financial Flexibility Shareholder Value Return of Capital Capital Investment 18
Maintain financial flexibility to meet future requirements in context of uncertainties Manage financial exposure Contract-backed Shell newbuilds DOJ settlement Sustain investment grade rating Accelerate retirement of debt Continue…
High-return additions of new, state-of-the-art drilling rigs are essential for the long-term competitiveness of the company Represents primary source of growth and future operating income A lack of investment in high-return assets…
Grow our leadership position in high- spec assets Build, acquire, divest and / or spin-off Core, strategic asset portfolio Ultra-deepwater Harsh Environment High-spec Jackups Other high-quality floaters and jackups 21
Fleet expansion Four dynamically-positioned ultra-deepwater drillships 10 year contracts (7.6B of backlog) 3.0B investment with attractive terms Net cash flow generated over the contracts of 4.2 billion, simple payback of 140%…
10 Ultra-Deepwater Newbuilds Concluded in 2011 8 Newbuilds Currently Under Construction Construction Contract Completion Commencement Transocean Andaman 1Q 2013 2Q 2013 Transocean Ao Thai 3Q 2013 4Q 2013 Deepwater Asgard 4Q 2013…
Sold 38 rig package to Shelf Drilling Buyer group has deep industry experience Transocean will provide support to facilitate a successful transition A significant step forward in execution of asset strategy Divested 19 additional…
New Field Resources Discovered in 2012 (by Water Depth) Robust deepwater exploration performance in 2012 Volume Discovered (billion boe) of Discoveries provides strong pipeline for future demand 18 180 16 160 28% of volume…
High-Specification Deepwater Midwater Jackups Discoverer Seven Seas Sedco 704 GSF Constellation II Strong market demand Strong presence in the UK High utilization and due to level of new field and Norway sectors of the…
Industry leader committed to customers, employees, and shareholders Clearly defined strategies to create value Operations Capital deployment Assets Well positioned to capture global opportunities in an improving market Backlog…
2013 Annual General Meeting Steven L. Newman, President & CEO Zug, Switzerland May 17, 2013 www.deepwater.com
(1) Per Fleet Status Report issued April 18, 2013. Floater classifications are by water depth as described in the Fleet Status Report. Harsh Environment Floaters are included in the appropriate water depth classification. Rig count…
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