Profile 1 in customer satisfaction five consecutive years Highest net income margins among major competitors Best ever total recordable incident rate in 2014 High-quality fleet of floaters and jackups Broad diversification:…
Market Environment Sharp drop in commodity prices accelerated beginning late fourth quarter 2014 New lows/increased volatility for oil prices during customers budget season Capital expenditures will decline in 2015 as customers…
Declining Commodity Prices and Increasing Volatility 20% 10% 0% -10% -20% -30% -40% -50% -60% Brent WTI Source: Thomson One; commodity prices indexed to 31 December 2013 close prices; data through 11 March 2015 5
Enscos Proactive Fleet Management 2Q14 Moved five floaters to held for sale to proactively reduce expenses; one later sold for scrap value 3Q14 Sold four jackups for more than 200 million 4Q14 Classified additional 4 rigs as…
4Q14 Financial Results 546 million cash flow from operating activities 98% operational utilization for jackups 90% operational utilization for floaters 3.9 billion total non-cash impairments 3.0 billion goodwill 925 million…
Additional Actions Taken in Response to Market Downturn Reduced quarterly dividend to 0.15 per share to improve capital management flexibility during downturn Decrease operating expenses by cold stacking four rigs in continuing…
Current Market Floaters Jackups Contracted 231 332 Uncontracted 34 56 Active Stacked Marketed Rigs 9 22 Fleet Total 274 410 % Contracted 84% 81% Under Construction 59 100 On Order / Planned 23 16 Newbuilds Total 82 116…
Newbuild Jackup Order Book 7% 116 Total 8 Contracted, Established Drillers 34 29% Uncontracted, 58 Established Uncontracted, Drillers Non-Established Drillers 50% 16 On Order, All Uncontracted 14% Source: IHS-ODS…
Newbuild Jackup Order Book NonEstablished Drillers Under 60 by Shipyard Constr. On Order Total China China Merchants Heavy Industry 14 2 16 50 Shanghai Waigaoqiao Shipbuilding 6 2 8 Yantai CIMC Raffles 7 7 6 Other 20 2 22 Subtotal…
Jackup Supply 124 172 79 57 72 25 111 17 20 130 22 23 304 308 259 200 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 < 15 years old 15-30 years old 30-35 years old = 35 years old Source: IHS-ODS Petrodata as of March 2015;…
Newbuild Floater Order Book 82 Total 21% 17 21% 17 SETE Brasil, Contracted Under Construction 12 26 SETE Brasil, 14% Uncontracted, On Order Under 32% 10 Construction Uncontracted, On Order 12% Source: IHS-ODS Petrodata…
Newbuild Floater Order Book 30 Under SETE Brasil by Shipyard Constr. On Order Total Estaleiro Atlantico Sul 4 3 7 25 Estaleiro Jurong Aracruz 4 3 7 4 BrasFELS, Angra dos Reis 5 1 6 Estaleiro Enseada do Paraguacu 2 4 6 20…
Floater Supply 51 66 48 40 28 46 39 38 39 40 38 34 194 212 155 177 Mar. 2015 Mar. 2016 Mar. 2017 Mar. 2018 < 15 years old 15-30 years old 30-35 years old = 35 years old Source: IHS-ODS Petrodata as of March 2015;…
Newbuild Cancellations and Deferrals Jackups 6 jackups ordered by non-established drillers were cancelled in 2H14 Seadrill delayed 8 jackups with 2015/2016 scheduled deliveries by a total of 44 months Transocean delayed 5 jackups…
Well Positioned to Manage Through Downturn Capital management flexibility Highest net income margin among major peers + further expense reductions Fleet highgrading 7 newbuild rigs with differentiated designs prior floater…
High Quality Fleet 63 Rig Fleet 9 11 3 40 ULTRA & DEEP DYNAMICALLY POSITIONED MOORED PREMIUM WATER DRILLSHIPS SEMISUBMERSIBLES SEMISUBMERSIBLES JACKUPS Note: Includes rigs under construction and excludes managed rigs and…
Global Platform Europe & Mediterranean Semi 1 U.S. Gulf of Mexico Jackups 11 Ships 3 Semis 6 Jackups 7 Middle East Jackups 9 Africa Ships 3 Jackups 1 Asia Pacific Semi 3 Brazil Jackups 8 Semis 4 Under Construction Ships 3…
Backlog Diversification 30% 30% 25% 29% Premium National Semis Jackups Independents Oil Companies 11% Drillships Majors Asia 46% 40% Pacific North & South 24% 13% Europe & America Med Brazil Africa 15% 27% Middle East…
Uptime = Net Inc. Margin = Customer Satisfaction Net Income Margin 30% 28% 19% 18% 18% 15% ESV SDRL DO NE RIG RDC Source: Thomson One. Thomson One's data is based on aggregation of information collected from industry…
Industry Leader in Customer Satisfaction Rated 1 Total Satisfaction Health, Safety & Environment Technology Special Applications Deepwater Drilling Shelf Wells Non-Vertical Wells Harsh Environment Wells North Sea Latin America…
Safety, Health & Environment Total Recordable Leading-edge safety Incident Rate management systems 1.2 Major competitive 1.0 advantage; especially versus non-established 0.8 drillers 0.6 0.4 0.2 0.0 2008 2009 2010 2011 2012 2013…
Capital Management and Financial Position Reduced quarterly dividend to 0.15 from 0.75 Investment-grade credit ratings from Moodys/S&P 9.7 billion of contracted revenue backlog 42% total debt-to-capital ratio 1.4 billion of cash…
Contracted Revenue Backlog billions 3.9 2.8 1.7 1.3 2015 2016 2017 2018+ Note: Contract revenue backlog as of 31 December 2014 plus drilling contracts signed and shortened through 23 February 2015 27
Capital Expenditures billions 2.1B Note: Final rig enhancement and sustaining project capital expenditure budgets for 2016 and 2017 TBD once budgets are completed. 0.25 Zero capital expenditures for newbuild 0.25 construction…
Proforma Debt Maturity Profile millions Upsized Revolving Credit Facility 3,000 Commitments to 2.25B in Sep. 2014 2,700 Raised 1.25B in Sep. 2014; 2,400 Raised an additional 1.1B in Mar. 2015 to redeem 1.0B of 2016 notes and…
Enscos Strengths Leader in customer satisfaction five consecutive years Highest net income margin among major competitors Best ever total recordable incident rate in 2014 High-quality fleet of floaters and jackups 10 year average…
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