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Simmons Energy Conference – TGS

TGS · Mar 5, 2015 · 28 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. Simmons Energy Conference – TGS – slide 1
    Simmons Energy Conference Robert Hobbs CEO Las Vegas 05 March 2015
  2. Simmons Energy Conference – TGS – slide 2
    This is TGS Main offices: Calgary London Houston and Oslo Oslo Regional offices: London, Perth, Calgary, Singapore and Rio de Janeiro Fundamental values: Unmatched Quality and Service, Growth for Stakeholders Houston…
  3. Simmons Energy Conference – TGS – slide 3
    Well positioned in the seismic value chain M U LT I - C L I E N T SERVICES Geophysical Data Geological Data Imaging Services 2D Seismic Digital well data Seismic processing 3D Seismic Directional Surveys Complex depth imaging…
  4. Simmons Energy Conference – TGS – slide 4
    TGS competitive advantage Asset light business model Global Quality Flexibility Geographically diverse Balance sheet data library Investment decisions not People and culture driven by vessel utilization Leadership in mature…
  5. Simmons Energy Conference – TGS – slide 5
    Diversified Portfolio With Different Characteristics Characteristics TGS multi-client project portfolio Return targets + 1.7X 2.0X 2.5X + 2.5X Prefunding 70 120% 40 60% 20 40% requirements Awarded acreage Mainly open…
  6. Simmons Energy Conference – TGS – slide 6
    TGS Performs in all Cycles EBIT margin vs. Seismic peers Return on Capital Employed 80% 80% 60% 70% 40% 60% 20% 50% 0% 40% -2 0% 30% -4 0% -6 0% 20% -8 0% 10% -1 00% 0% ROCE WACC TGS Peer Ra nge Peer…
  7. Simmons Energy Conference – TGS – slide 7
    Financials 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 8
  8. Simmons Energy Conference – TGS – slide 8
    2014 Delivering on expectations Q4 revenues were 298 MUSD, up 10% TGS Revenues 2009 2014 (MUSD) from Q4 2013 record high quarterly 1000 revenues for TGS 800 2014 full year revenues of 915 MUSD, 600 up 4% from 2013 400 Q4…
  9. Simmons Energy Conference – TGS – slide 9
    Key Financials Net Revenues EBIT before non-recurring items 211 210 191 271 222 205 190 298 350 140 50% 9 300 10 120 40% 250 100 29 12 11 8 200 9 80 30% 9 226 150 218 137 60 120 111 20% 127 155 137 130 98 94 100 138 40 89 80 82…
  10. Simmons Energy Conference – TGS – slide 10
    Solid balance sheet backing TGS strategy Other 104 Cash balance per Q4 2014 Goodwill 67 Cash 256 393 Current liabilities represents 256 MUSD 36 Non-current liabilities Strong balance sheet Receivables 521 provides excellent…
  11. Simmons Energy Conference – TGS – slide 11
    Investments per Vintage ahead of schedule 700 609 600 100% 500 419 400 381 100% 299 52% 300 270 63% 60% 200 153 32% 100 40% 20% 8% 0% 4% 0 2010 2011 2012 2013 2014 WIP Original investments Maximum allowed…
  12. Simmons Energy Conference – TGS – slide 12
    Net Revenues vs. Net Book Value per Vintage 50% 45% 43% 41% 40% 36% 35% 63% 30% 25% 23% 20% 17% 15% 11% 10% 8% 8% 7% 5% 3% 1% 1% 0% 0% 0% pre-2010 2010 2011 2012 2013 2014 WIP Net revenues Net book…
  13. Simmons Energy Conference – TGS – slide 13
    Strong Cash Generation Delivers Shareholder Value Dividend per Share (NOK) and Dividend Yield* 2015 Dividend Yield vs OSX Index* 9 8.5 8.5 6.0% 18.2% 8 8 5.5% 7 6 6 5.0% 5 5 10.1% 4 4.5% 4 3 4.0% 5.2% 4.4% 2 3.3% 3.0% 3.5% 2.1%…
  14. Simmons Energy Conference – TGS – slide 14
    Outlook 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 15
  15. Simmons Energy Conference – TGS – slide 15
    Outlook Macro Outlook Recent oil price development to result in decreased exploration spend from customers EUR Norwegian 23rd Licensing Round bids due 2 December 2015 Further CSEM investment in partnership with EMGS 2015 season of…
  16. Simmons Energy Conference – TGS – slide 16
    2015 Announced Projects North & South America Marine North America Land Africa, Middle East, Asia Pacific Europe / Russia Panfilo 3D, 11,500 km2 Kaybob-Bigstone 3D, 722 km2 Nerites Season 2 3D, 13,000 km 2 NE Greenland 2D, 13,500 km…
  17. Simmons Energy Conference – TGS – slide 17
    2015 Activity - North America * In partnership with East Canada Newfoundland Labrador 2015 (provisional, to be confirmed) - 30,000 km multi-client 2D survey in partnership with PGS Continuation of a multi-year program targeting…
  18. Simmons Energy Conference – TGS – slide 18
    2015 Activity North America Central Gulf of Mexico Panfilo - 11,500 km2 multi-client 3D survey commenced in Q4 2014 Deep water Lund and Henderson protraction areas of Central Gulf of Mexico Survey covers mainly open acreage and…
  19. Simmons Energy Conference – TGS – slide 19
    2015 Activity Asia Pacific New Zealand NWF14 - 17,500 km 2D multi-client survey Within the Reinga, Northland and Taranaki basins, offshore Northwest New Zealand Nine offshore permits granted to oil companies in Reinga-Northland,…
  20. Simmons Energy Conference – TGS – slide 20
    2015 Activity Europe Greenland NE Greenland 2015 continuation of 13,500 km multi-client 2D survey Multi-year program Data being processed utilizing TGS proprietary Clari-Fi broadband technology Upon completion of the program TGS…
  21. Simmons Energy Conference – TGS – slide 21
    Onshore projects U.S. Onshore Freeport - 1,777 km2 3D multi-client survey Utica play, central Ohio Acquisition will complete in the second half of 2015 Blanchard 1,100 km2 3D multi-client survey South Central Oklahoma Oil Play…
  22. Simmons Energy Conference – TGS – slide 22
    License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central GOM Mar 2015 (5-Year Plan) Madagascar 2015 (expected) Norway APA 2014 Round awards Western GOM Aug 2015…
  23. Simmons Energy Conference – TGS – slide 23
    Enhancing Value through Technology TGS applies appropriate technologies to address imaging challenges associated with specific geologies and operating environments TGS acquires complementary data products to expand and enhance its…
  24. Simmons Energy Conference – TGS – slide 24
    Global Well Data Coverage TGS owns and manages a global well log database Strong synergies with multi-client seismic data business 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved. 25
  25. Simmons Energy Conference – TGS – slide 25
    Backlog Historical Backlog (MUSD) 2011 - 2014 350 300 250 200 150 293 281 260 242 211 213 224 100 188 185 178 153 143 146 124 134 50 110 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012…
  26. Simmons Energy Conference – TGS – slide 26
    2015 Projects Schedule NSA EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sanco Swift Australia 3D & WAZ Sanco Sword Australia Polarcus Adira Gulf of Mexico CGG StagSeisTM Crew Gulf of Mexico Ogo FAN Gulf of…
  27. Simmons Energy Conference – TGS – slide 27
    Summary Record Q4 net revenues of 298 MUSD with highest ever net late sales of 226 MUSD Full year 2014 Guidance achieved with net revenues of 915 MUSD Full year 2014 investment of 462 MUSD Recent oil price development to result in…
  28. Simmons Energy Conference – TGS – slide 28
    Thank you www.tgs.com 2015 TGS-NOPEC Geophysical Company ASA. All rights reserved.

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