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Conference Call 4Q 2014 Results – Seadrill Limited

Seadrill Limited · Feb 26, 2015 · 19 slides

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Slides

  1. Conference Call 4Q 2014 Results – Seadrill Limited – slide 1
    Conference Call 4Q 2014 Results February 26, 2015
  2. Conference Call 4Q 2014 Results – Seadrill Limited – slide 2
    Agenda 1 Highlights Q4 2014 2 Financial Performance Highlights 3 Market Outlook 4 Appendix: Seadrill Limited Financials 3
  3. Conference Call 4Q 2014 Results – Seadrill Limited – slide 3
    Summary Successful 2014, Expecting Challenges in 2015 Operational excellence Three drillships taken into service in the fourth quarter Strong financial and operational performance during 2014 Secured 5 new contracts, adding US1.3…
  4. Conference Call 4Q 2014 Results – Seadrill Limited – slide 4
    Company Highlights Q4 2014 Quarterly EBITDA (proforma consolidated) 897 865 Seadrill Group generated combined EBITDA of 900 842 768 788 US897 million for the fourth quarter 2014 800 652 665 663 700 Economic utilization for the…
  5. Conference Call 4Q 2014 Results – Seadrill Limited – slide 5
    Financial performance highlights Financial Performance Highlights 6
  6. Conference Call 4Q 2014 Results – Seadrill Limited – slide 6
    Financial Performance Highlights Q4 2014 Q4 2014 Q3 2014 Q4 2013 Stand alone Combined Combined Combined Total Operating Revenue US1,261 m US1,610 m US1,610 m US1,069 m Gain on sale of assets US192 m - - - Total Operating…
  7. Conference Call 4Q 2014 Results – Seadrill Limited – slide 7
    Balance Sheet Summary December September 31, 2014 30, 2014 Total Current Assets 3,415 3,422 Non-current assets Newbuildings 2,030 3,794 Drilling units 15,145 13,932 Other 5,916 6,239 Total non-current assets 23,091 23,965 TOTAL…
  8. Conference Call 4Q 2014 Results – Seadrill Limited – slide 8
    EBITDA Contribution +53 +2 897 900 865 842 788 800 768 -19 225 225 713 224 207 700 665 663 164 164 600 US Millions 500 400 641 672 624 635 624 641 635 672 300 200 100 0 1Q13 2Q13 3Q13 4Q13 1Q14…
  9. Conference Call 4Q 2014 Results – Seadrill Limited – slide 9
    Manageable Funding Requirements Unaudited accounts in USD millions Next 2 Years Debt Maturities 1,300 Yard Instalments 3,500 Total Funding Requirement 4,800 Debt Amortization 2,400 US1.3 billion in debt maturing in 2015 and…
  10. Conference Call 4Q 2014 Results – Seadrill Limited – slide 10
    Financial performance highlights Market Outlook Appendix: Seadrill Limited Financials 11
  11. Conference Call 4Q 2014 Results – Seadrill Limited – slide 11
    Seadrill Group US17.2 Billion Contract Backlog 2015 2016 2017 2018 Unit Customer 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q West Draco - Newbuild West Dorado - Newbuild West Aquila - Newbuild West Libra - Newbuild West…
  12. Conference Call 4Q 2014 Results – Seadrill Limited – slide 12
    Core Assets 32 6th generation ultra-deepwater units 2 Midwater harsh environment semi- submersible rigs 29 High-specification jack-ups 3 Harsh environment jack-ups 3 Tender rigs Financial Investments 8.18% of SapuraKencana…
  13. Conference Call 4Q 2014 Results – Seadrill Limited – slide 13
    Appendix: Seadrill Limited Financials 14
  14. Conference Call 4Q 2014 Results – Seadrill Limited – slide 14
    Operating Income - Floaters Unaudited accounts in USD millions 4Q14 3Q14 2Q14 1Q14 Total operating revenues 801 842 852 813 Gain on Sale* 192 - - 440 Vessel and rig operating expenses 268 298 263 271 Reimbursable expenses 12…
  15. Conference Call 4Q 2014 Results – Seadrill Limited – slide 15
    Operating Income Jack-up Rigs Unaudited accounts in USD millions 4Q14 3Q14 2Q14 1Q14 Total operating revenues 420 408 335 315 Vessel and rig operating expenses 184 184 142 130 Reimbursable expenses 4 14 11 9 Depreciation and…
  16. Conference Call 4Q 2014 Results – Seadrill Limited – slide 16
    Operating Income Total Seadrill Limited Unaudited accounts in USD millions 4Q14 3Q14 2Q14 1Q14 Total operating revenues 1,261 1,293 1,222 1,221 Gain on sale of assets* 192 - - 440 Vessel and rig operating expenses 488 521 437…
  17. Conference Call 4Q 2014 Results – Seadrill Limited – slide 17
    Net Income Total Seadrill Limited Unaudited accounts in USD millions 4Q14 3Q14 2Q14 1Q14 Net operating income 452 461 476 890 Financial items and other income Interest income 18 2 32 11 Interest expense (122) (114) (124) (118)…
  18. Conference Call 4Q 2014 Results – Seadrill Limited – slide 18
    Balance Sheet - Assets December September June Unaudited accounts in USD millions 31, 2014 30, 2014 30, 2014 Current assets Cash and cash equivalents 831 638 543 Restricted cash 268 279 237 Marketable securities 426 878 933 Accounts…
  19. Conference Call 4Q 2014 Results – Seadrill Limited – slide 19
    Balance Sheet Liabilities & Shareholders Equity December September June Unaudited accounts in USD millions 31, 2014 30, 2014 30, 2014 Current liabilities Current portion of long-term debt 2,309 1,689 2,147 Trade accounts payable…

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