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:…
4Q14 Results 546 million cash flow from operating activities 98% operational utilization for jackups 90% operational utilization for floaters Fleet highgrading continues classified 4 rigs as discontinued operations cold…
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…
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 23 February 2015 7
Current Market Floaters Jackups Contracted 238 338 Uncontracted 28 33 Active Stacked Marketed Rigs 20 38 Fleet Total 286 409 % Contracted 83% 83% Under Construction 58 101 On Order / Planned 25 17 Newbuilds Total 83 118…
Newbuild Jackup Order Book 8% 118 Total 9 Contracted, Established Drillers 42 67 Uncontracted, Uncontracted, 35% Established 57% Non-Established Drillers Drillers Source: IHS-ODS Petrodata as of February 2015;…
Jackup Supply 45% CAGR 77 121 172 57 394 399 352 355 Feb. 2015 Feb. 2016 Feb. 2017 Feb. 2018 < 35 years old = 35 years old Source: IHS-ODS Petrodata as of February 2015; marketed competitive independent leg cantilever…
Newbuild Floater Order Book 83 Total 46 37 55% 45% Contracted Uncontracted Source: IHS-ODS Petrodata as of February 2015; marketed competitive floaters 11
Floater Supply 53 65 50 48 7% CAGR 266 285 291 238 Feb. 2015 Feb. 2016 Feb. 2017 Feb. 2018 < 35 years old = 35 years old Source: IHS-ODS Petrodata as of February 2015; marketed competitive floaters 12
Newbuild Deferrals and Cancellations Atwood Delivery dates for 2 drillships with 2015 expected deliveries delayed by six months each Transocean Delivery dates for 5 jackups with 2016 and 2017 expected deliveries delayed by ten…
Enscos Proactive Fleet Management 2Q14 Moved five floaters to held for sale to proactively reduce expenses; one sold for scrap value 3Q14 Sold four jackups for more than 200 million 4Q14 Moved three rigs to held for sale and…
Well Positioned to Manage Through Downturn Fleet highgrading 7 newbuild rigs with differentiated designs under construction major upgrade investments expected to benefit 2015 mooring capability to be added to select ENSCO 8500…
Well Positioned to Manage Through Downturn Capital management flexibility Global presence and diverse customer base operations across six continents extensive customer relationships: NOCs, Majors, IOCs 17
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…
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 26
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…
Debt Maturity Profile millions 3,000 Upsized RCF to 2.25B in September 2014 2,700 2,400 2,100 1,800 2,250 1,500 1,500 Raised 1.25B in September 2014 1,200 1,020 905 900 625 625 600 505 300 300 150 35 5 5 0…
Enscos Strengths Leader 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 10 year average…
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