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SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International

Oceaneering International · Mar 24, 2015 · 32 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. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 1
    SCOTIA HOWARD WEIL ENERGY CONFERENCE MARCH 24, 2015 NEW ORLEANS, LA M. Kevin McEvoy Chief Executive Officer Oceaneering International, Inc. Safe Harbor Statement
  2. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 2
    OII Participation in Offshore Life Cycle PHASE EXPLORATION DEVELOPMENT PRODUCTION DECOMMISSIONING 1 Market of Operating Subsea Tree Subsea Trees of Field Driver Floating Drilling Rigs Installations In Service Abandonments Business…
  3. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 3
    Offshore Life Cycle Business Exposure Revenue Mix 5% 15% 25% 55% Exploration Development Production Decommissioning Source: OII Estimates
  4. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 4
    Earnings Per Share Guidance 2015 Estimate 3 3.10 10 - 3.50 3 50 Actual Low Estimate High Estimate 5.00 4.00 Earnings per Share 3.00 2 00 2.00 1.00 0.00 2008 2009 2010 2011 2012 2013 2014 2015E OII 2015…
  5. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 5
    Combined EPS OSX Companies Excluding OII Actual Consensus Estimate 80 60 Earnings per Share 40 20 0 2008 2009 2010 2011 2012 2013 2014 2015E Based on First Call Actuals and Mean Estimates as of March 10, 2015
  6. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 6
    Relative EPS Performance To 2008 OSX Peak OII OSX w/o OII 150% 120% 90% % 60% 30% 0% -30% -60% 2008 2009 2010 2011 2012 2013 2014 2015E Based on First Call Actuals and Mean Estimates as of March 10, 2015
  7. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 7
    REMOTELY OPERATED VEHICLES 2015 Outlook vs vs. 2014 Lower Demand PICTURE Drilling and Vessel Support Fewer Fleet Days on Hire Reduced Utilization Reduced Average Pricing Flat Fleet Size
  8. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 8
    SUBSEA PRODUCTS 2015 Outlook vs vs. 2014 Lower Demand Short-Cycle Businesses e.g. Tooling Field Abandonment Support BOP Control System Replacements Flat Umbilical Revenue
  9. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 9
    SUBSEA PROJECTS 2015 Outlook vs vs. 2014 Lower Vessel Pricing in the GOM PICTURE g Lower Chartered Vessel Demand off Angola Mitigated by Higher Operating Income from: Pending Acquisition of C & C Technologies Data Solutions…
  10. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 10
    C & C Technologies Acquisition Pending Global Survey Services Autonomous Underwater Vehicles 230 MM Purchase Price Expect April 2015 Closing Accretive to 2015 Earnings
  11. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 11
    Data Solutions Group Communications Video/Telemetry Software Solutions Asset Tracking
  12. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 12
    ASSET INTEGRITY 2015 Outlook vs vs. 2014 Lower Demand Customers deferring maintenance Generally Lower Pricing
  13. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 13
    Subsea Asset Integrity Services Targeted Assets Flexible and Rigid Flowlines Flowlines, Pipelines and Risers Inspection Technologies Digital g Radiography, g p y Ultrasonic, and Electro Magnetic g Acoustic Transducer (EMAT)
  14. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 14
    Subsea Asset Integrity Tools Magna Scan Neptune Digital Radiography Trident Tool (DRT)
  15. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 15
    2015 Capital Sources & Allocations Current Sources Potential Allocations Cash C h att Dec D 31, 31 2014 Organic O i Cap C EEx 431 MM 200 MM to 250 MM Estimated 2015 EBITDA Acquisitions 725 MM 230 MM & More Bank Term Loan…
  16. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 16
    OII Summary Challenging Time Well Positioned Intend to Continue Investing for the Future & Returning Capital to Our Shareholders Deepwater Focus Remains Sound Long-Term Prospects Are Promising
  17. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 17
  18. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 18
    Supplemental Financial Information
  19. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 19
    EBITDA in millions Actual Low Estimate High Estimate 1,000 900 800 700 600 500 400 300 200 100 0 * 2015 - 725MM-800MM Based on OII EPS Guidance as of February 11, 2015 See Next Slide For Non-GAAP Reconciliation to Net…
  20. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 20
    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…
  21. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 21
    Business Segments Revenue Operating Income 7% 2% 7% 14% 14% 29% 41% % 16% 34% 36% ROV Subsea Products Subsea Projects Asset Integrity Adtech YTD 2014
  22. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 22
    Supplemental Market Information
  23. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 23
    Floating Rig Demand History 300 ontracted Flloating Rigss 250 200 ear-End Co 150 Ye 100 Source: IHS-Petrodata at December 31, 2014
  24. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 24
    Rig Fleet, Non-PBR Brazil at December 31 31, 2014 216 Rigs Under Contract OII on 65% 6 % OII on 77% of Drillships/6th Gen Rigs 58 Rigs On Order 18 Rigs Have Operator Contracts OII - 13 ROV Contracts Competitors C tit - 3 ROV C…
  25. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 25
    Deepwater Fields Backlog Undeveloped Discoveries Fields 600m 600 500 400 300 200 100 0 2009 2010 2011 2012 2013 2014 Source: IHS Petrodata
  26. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 26
    Leading Market Position Remotely Operated Vehicles Ownership Drill Support Market Share OII - 336 OII 162 36% 59% Worldwide Fleet 275 Floating Rigs Contracted** 937 Vehicles* Source: *OII Estimates - December 2014; **IHS…
  27. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 27
    Oilfield ROV Fleet Ownership Drill Support Market Share OII 336 OII 162 36% 59% OII Subsea 7 Fugro DOF Subsea Saipem C-Innovations Helix Technip Worldwide Fleet TMT 275 Floating Rigs Contracted** Other 937 Vehicles*…
  28. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 28
    OII ROV Fleet Geographic g p Profile December 2014 35 34 98 33 54 82 GOM Africa Norway Brazil Asia/Pac Other 336 Vehicles
  29. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 29
    OII ROVs on Vessels December 2014 Locations Customers 15 25 48 41 19 30 GOM Africa Norway Other Operators Contractors 89 Vehicles
  30. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 30
    OII 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%
  31. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 31
    Leading Market Position Specialty Subsea Products Umbilicals Tooling & Subsea Work Systems Installation and Workover Control Systems Subsea Hardware
  32. SCOTIA HOWARD WEIL ENERGY CONFERENCE – Oceaneering International – slide 32
    Subsea Products Backlog At Period End in millions 1,000 800 600 400 200 0 2009 2010 2011 2012 2013 2014 December 2014

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