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SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc

Atwood Oceanics Inc · Mar 23, 2015 · 18 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 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 1
    Scotia Howard Weil 43rd Annual Energy Conference March 23, 2015 Rob Saltiel President and CEO Atwood Oceanics 1
  2. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 2
    Atwood Oceanics Investment Thesis Modern, high quality rig fleet 6 UDW floaters and 3 high-specification jackups delivered 2011-2016 Bifurcation favors young fleet and supports financial sustainability Industry-leading operations…
  3. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 3
    Modern, High Quality Fleet - 4.5 billion Investment in Expanding our High Specification Rig Fleet 2015 EBITDA: Approximately 80%1 derived from UDW floaters and Atwood Mako high specification jackups Atwood Manta Atwood…
  4. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 4
    Modern, High Specification Fleet A- Class Typical 5th Atwood Advantage, Achiever, Specification Drillship Gen Admiral, and Archer Floater Max Water Depth (Ft) 12,000 10,000 Max Drilling Depth (Ft) 40,000 35,000 Variable Deckload (mt)…
  5. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 5
    Modern, High Quality Fleet - Revenue-weighted Age of Fleet 'Revenue Weighted Age' of Fleet DO RIG ESV RDC NE PGN NE (ex PGN) ATW 35 30 25 Fleet Age (Years) 20 15 10 5 0 4Q13 4Q10 2Q11 4Q11 2Q12 4Q12…
  6. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 6
    Industry-Leading Operations Performance and Financial Returns - Achieving Top-Tier Execution Value Drivers Revenue Cost Project Key Enablers Efficiency Control Management - Centralized maintenance and technical support 2011 -…
  7. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 7
    Industry-Leading Operations Performance and Financial Returns - Net Income Margin trailing 8 quarters 35% 33% 30% 28% 28% 25% Peer Group Average: 17% 20% 19% 19% 16% 15% 14% 12% 11% 10% 5% 4% 0% (2) (3) (1) (4)…
  8. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 8
    Industry-Leading Operations Performance and Financial Returns - Return on Capital Employed 20% 15% 13% 10% 11% 10% 9% 8% 8% 8% 7% 8% 8% 7% 6% 6% 6% 5% 5% 5% 5% 4% 4% 2% 0% RIG PACD DO VTG ORIG NE RDC SDRL ESV ATW 2015…
  9. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 9
    Earnings Visibility, Predictability and Built-in Growth - Steady Revenue and Earnings Growth: 2008 - 2014 Revenue Net Income Millions Millions 1,600 500 1,174 400 1,200 341 300 272 787 257 800 651 215 200 527 400…
  10. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 10
    Earnings Visibility, Predictability and Built-in Growth - Atwood Fleet Contract Status - (by calendar year) 2015 2016 2017 Rig Class/Rig Client Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Ultra-Deepwater Drillships Atwood Advantage Noble…
  11. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 11
    Revenue and EBITDA Visibility and Balance Sheet Strength Millions 1,200 Revenue backlog of 2.5 billion Contracted 1,136 Revenue 1 billion in remaining total 1,000 capital expenditures as of Contracted EBITDA March 9, 2015 800 838…
  12. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 12
    Potential for Improving Supply/Demand Balance Similar to the great crew change, recognize the likelihood for the great rig change out Impairments totaling almost 9 billion since July 2014 Rig retirements are accelerating 56…
  13. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 13
    Why 70 Brent Could Stimulate Demand Recovery Floater rig dayrates approaching 50% reduction from peak Service costs also in decline 15 25% reductions in costs depending of the type of service being provided E&P companies shedding…
  14. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 14
    Managing Through the Downturn Must deliver high-quality drilling services Increase focus on client engagement Consider more creative contracting structures Delay newbuild drillships until market improves Reduce costs without…
  15. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 15
    16
  16. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 16
    Summary 17
  17. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 17
    Atwood Investment Thesis Young, High-Quality Fleet Backlog and Cash Flow Visibility Strong Balance Sheet with Significant Liquidity Revenue and Net Income Growth Operational Excellence and Cost Control Lead to Best-in-Class…
  18. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Atwood Oceanics Inc – slide 18
    Thank You Atwood Achiever Naming Ceremony May 30, 2014 www.atwd.com www.atwd.com 19

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