Skip to main content Investor Presentation – Oceaneering International | Shale Experts
Loading...
Pm

Investor Presentation – Oceaneering International

Oceaneering International · Sep 30, 2014 · 49 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. Investor Presentation – Oceaneering International – slide 1
    September 30, 2014 New Orleans, LA Marvin J. Migura Executive Vice President Oceaneering International, Inc. Safe Harbor Statement S
  2. Investor Presentation – Oceaneering International – slide 2
    WHY OII Leveraged to Deepwater and Subsea Completions Leading Market Positions ROVs ROV and d Specialty S i lt Subsea S b Products P d t Good Project Execution Excellent Earnings, Liquidity and Cash Flow
  3. Investor Presentation – Oceaneering International – slide 3
    Leveraged to Deepwater Projects Take Years to Develop Largely Oil Reservoirs With High Production Flow Rates Well Capitalized Customer Base Investment Based on Long-Term Commodity Price
  4. Investor Presentation – Oceaneering International – slide 4
    Leading Market Position Remotely Operated Vehicles Ownership Drill Support Market Share OII - 304 OII 170 35% 60% Worldwide Fleet 284 Floating Rigs Contracted** 877 Vehicles* Source: * OII Estimates - December 2013; **IHS…
  5. Investor Presentation – Oceaneering International – slide 5
    High-Spec, Non-PBR Brazil Rig Fleet 120 Existing Rigs Under Contract OII ROV Contracts C t t on 80% 68 Rigs On Order OII Expects to Continue as Dominant ROV Provider OII ROV Contracts on 19 of 21 Awards 47 ROV Contract…
  6. Investor Presentation – Oceaneering International – slide 6
    Leading Market Position Specialty Subsea Products Umbilicals Tooling & Subsea Work Systems Installation and Workover Control Systems Subsea Hardware
  7. Investor Presentation – Oceaneering International – slide 7
    Earnings Per Share Guidance 2014 Estimate 3 3.95 95 - 4.05 4 05 Actual Low Estimate High Estimate 4.50 4.00 3.50 Earnings per Share 3.00 2.50 2.00 1.50 1.00 0 50 0.50 0.00 2008 2009 2010 2011 2012 2013 2014E OII…
  8. Investor Presentation – Oceaneering International – slide 8
    EPS Guidance Oilfield Business Segment Outlook SEGMENT OPERATING INCOME 2014 ROV 2013 Subsea Products 2013 Subsea Projects 2013 Asset Integrity 2013
  9. Investor Presentation – Oceaneering International – slide 9
    Excellent Cash Flow & Liquidity EBITDA of 855 MM to 875 MM Expected in 2014 746 MM in 2013 Ample Resources to Invest in Growth At June 30, 2014: 103 MM Cash 80 MM Debt 2.2 B Equity EBITDA Reconciliation to Net Income is in…
  10. Investor Presentation – Oceaneering International – slide 10
    Capital Allocation Q3 Interim Update As of September 26, 2014 3.0 million Treasury Shares Acquired for 201 MM in Q3 3.5 million Treasury Shares Acquired for 237 MM YTD
  11. Investor Presentation – Oceaneering International – slide 11
    Bank Financing Q3 Interim Update As of September 26, 2014 Bank Revolving Credit Facility Increased by 100 MM 400 MM Committed, up from 300 MM 280 MM Drawn Efforts Underway Further Increase Committed Bank Facilities to Provide…
  12. Investor Presentation – Oceaneering International – slide 12
    Long-Term Deepwater Outlook Major Source of Future Oil Supply Exploration Success Bodes Well for the Future Drilling Intensity is Rising Source: ExxonMobil and Deutsche Bank
  13. Investor Presentation – Oceaneering International – slide 13
    Worldwide Deepwater Capex Forecast to More Than Double in billions 300 250 260 200 150 100 113 50 0 2009-2013 2014-2018 Source: Douglas-Westwood, January 2014
  14. Investor Presentation – Oceaneering International – slide 14
    5-Year OII Outlook Global Demand Growth Deepwater Drilling Field Development Inspection, Maintenance, and Repair (IMR)
  15. Investor Presentation – Oceaneering International – slide 15
    Floating Rig Demand 400 ontracted Flloating Rigs s 90% Increase In Demand Since 2003 350 300 282 250 ear-End Co 200 147 150 Ye 100 at End of 2013: 314 Rigs in Fleet, 90% Fleet Utilization. Source:…
  16. Investor Presentation – Oceaneering International – slide 16
    2014 Floating Rig Market As of June 30 284 Rigs Under Contract Up Two Year To Date 10 Rigs g Added to Fleet in First Half All Contracted Fleet Utilization was 88% 90% at the end of 2013 19 Ri Rigs S Scheduled h d l d tto b…
  17. Investor Presentation – Oceaneering International – slide 17
    Floating Rig Demand 5-Year 5 Year Projection Assuming 10 Rigs Per Year are Retired or Cold Stacked and 85% Rig Fleet Utilization 400 ontracted Flloating Rigss Up 30 10% Growth 350 311 300 282 250 ear-End Co 200…
  18. Investor Presentation – Oceaneering International – slide 18
    Floating Rig Demand 5-Year 5 Year Projection with 5-Year 5 Year Averages Assuming 10 Rigs Per Year are Retired or Cold Stacked and 85% Rig Fleet Utilization 400 ontracted Flloating Rigss Up 55 20% Growth 350 305 300 250…
  19. Investor Presentation – Oceaneering International – slide 19
    Subsea Hardware CAPEX Forecast to Increase 80% in billions 125 117 100 75 65 50 25 0 2009-2013 2014-2018 Source: Douglas-Westwood, May 2014
  20. Investor Presentation – Oceaneering International – slide 20
    Deepwater Fields Backlog Undeveloped Discoveries Fields 600m 600 500 400 300 200 100 0 2009 2010 2011 2012 2013 Source: IHS Petrodata
  21. Investor Presentation – Oceaneering International – slide 21
    5-Year Deepwater Outlook What To Expect Along The Way Some Project Approvals May Continue to be Dela ed Delayed Approved Projects Cost Overruns Production Start-Up Delays Technical Challenges Sheer Volume of Projects Will…
  22. Investor Presentation – Oceaneering International – slide 22
    Offshore Construction Backlog Saipem Technip, Saipem, Technip and Subsea 7 in billions 40 35 30 25 20 15 10 5 0 2009 2010 2011 2012 2013 2014* * June 2014 Source: Morgan Stanley Estimates and Company Filings
  23. Investor Presentation – Oceaneering International – slide 23
    Subsea Tree Orders - Global Forecast at Historically High Levels 800 700 600 500 400 300 200 100 Source: Quest Offshore Resources Mean Case Forecast, August 2014
  24. Investor Presentation – Oceaneering International – slide 24
    Subsea Tree Orders Excluding BRZ Forecast at Historically High Levels 600 500 ers 400 Tree Orde 300 200 100 0 Source: Quest Offshore Resources Mean Case Forecast, August 2014
  25. Investor Presentation – Oceaneering International – slide 25
    Subsea Installations Excluding BRZ Forecast at Historically High Levels 500 50% Growth 400 340 ns Installation 300 265 230 200 100 0 Source: Quest Offshore Resources Mean Case Forecast, August 2014
  26. Investor Presentation – Oceaneering International – slide 26
    Subsea Completions In Service, Excl BRZ vs Subsea Products Operating Income (SSP Op Inc) vs. Annual SSP Op Inc in millions 5000 250 4000 200 3000 150 2000 100 1000 50 0 0 SS Completions SSP Op Inc Source: OII SEC…
  27. Investor Presentation – Oceaneering International – slide 27
    Subsea Completions In Service, Excl BRZ Forecast at Historically High Levels Up 900 25% Growth 5000 4000 3000 2000 1000 0 Source: Quest Offshore Resources & OII SEC Filings, August 2014
  28. Investor Presentation – Oceaneering International – slide 28
    OII Summary Diversified OFS Company Leading g Market Positions in Technical Niches Leveraged to Deepwater and Subsea Completions Excellent Earnings, Liquidity and Cash Flow
  29. Investor Presentation – Oceaneering International – slide 29
  30. Investor Presentation – Oceaneering International – slide 30
    Supplemental Financial Information
  31. Investor Presentation – Oceaneering International – slide 31
    EBITDA in millions Actual Low Estimate High Estimate 1,000 900 800 700 600 500 400 300 200 100 0 2008 2009 2010 2011 2012 2013 2014E* *2014 - 855MM - 875MM Based on OII EPS Guidance as of July 23, 2014 See Next Slide For…
  32. Investor Presentation – Oceaneering International – slide 32
    EBITDA Reconciliation to Net Income Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP financial measurement. Oceaneerings management uses EBITDA because we believe that this measurement is a widely…
  33. Investor Presentation – Oceaneering International – slide 33
    Business Segments Revenue Operating Income 7% 1% 8% 14% 13% 30% 42% 16% 33% 36% ROV Subsea Products Subsea Projects A Asset t Integrity I t it Adtech YTD June 2014
  34. Investor Presentation – Oceaneering International – slide 34
    Supplemental Market Information
  35. Investor Presentation – Oceaneering International – slide 35
    Oilfield ROV Fleet Ownership p Profile - December 2013 35% OII OII - 304 Subsea 7 Fugro DOF Subsea Saipem CI C-Innovations ti Helix Technip Other 877 Vehicles Source: OII Estimates
  36. Investor Presentation – Oceaneering International – slide 36
    OII ROV Fleet Geographic g p Profile June 2014 34 91 GOM 33 Africa Norway 32 Brazil Asia/Pac 55 Other 78 323 Vehicles
  37. Investor Presentation – Oceaneering International – slide 37
    OII ROV Fleet Size 350 323 300 ount at Period End 250 200 150 Vehicle Co 100 50 0 June 30, 2014
  38. Investor Presentation – Oceaneering International – slide 38
    Oilfield ROV Drill Support Market June 2014 OII Subsea 7 Fugro 60% Sonsub Other 284 Contracted Floating Rigs Source: IHS-Petrodata and OII Estimates
  39. Investor Presentation – Oceaneering International – slide 39
    OII ROVs on Vessels Locations June 2014 17 24 GOM Africa Norway 19 Other 25 85 Vehicles
  40. Investor Presentation – Oceaneering International – slide 40
    OII ROVs on Vessels Customers June 2014 Operators Contractors 44 41 85 Vehicles
  41. Investor Presentation – Oceaneering International – slide 41
    ROV Pricing and Fleet Utilization Revenue / Day on Hire Fleet Utilization 11,000 100% 9,000 90% 7,000 80% 5 000 5,000 70% 3,000 60% 1,000 50% *YTD June 2014
  42. Investor Presentation – Oceaneering International – slide 42
    Subsea Products Backlog At Period End in millions 1,000 800 600 400 200 0 2009 2010 2011 2012 2013 2014 June 2014
  43. Investor Presentation – Oceaneering International – slide 43
    Subsea Tree Orders - Global Forecast at Historically High Levels Up 200 50% Growth 800 595 700 600 500 430 395 400 300 200 100 Source: Quest Offshore Resources Mean Case Forecast, August 2014
  44. Investor Presentation – Oceaneering International – slide 44
    Subsea Tree Orders Excluding BRZ Forecast at Historically High Levels Up 190 70% Growth 800 700 600 455 500 355 400 265 300 200 100 Source: Quest Offshore Resources Mean Case Forecast, August 2014
  45. Investor Presentation – Oceaneering International – slide 45
    Subsea Installations - Global Forecast at Historically High Levels Up 115 700 35% Growth 600 500 42 425 400 305 310 300 200 100 Source: Quest Offshore Resources Mean Case Forecast, August 2014
  46. Investor Presentation – Oceaneering International – slide 46
    Subsea Completions In Service - Global vs Subsea Products Operating Income (SSP Op Inc) vs. Annual SSP Op Inc in millions 5000 250 4000 200 3000 150 2000 100 1000 50 0 0 SS Completions SSP Op Inc Source: OII SEC…
  47. Investor Presentation – Oceaneering International – slide 47
    Subsea Completions In Service - Global Forecast at Historically High Levels Up 1200 25% Growth 6000 5000 4000 3000 2000 1000 0 Source: Quest Offshore Resources, August 2014
  48. Investor Presentation – Oceaneering International – slide 48
    Umbilical Products Thermoplastic Hose Umbilicals Steel Tube Umbilicals
  49. Investor Presentation – Oceaneering International – slide 49
    OIE Products Production Control Valves Tooling g & Work Packages Installation Workover & Control Systems Connectors & Repair Systems Field Development Hardware

From the store

Browse maps, data & reports in the Shale Experts store