Seadrill Limited · NYSE:SDRL
Seadrill — Q4 2022 Earnings Presentation
9 slides from Seadrill's earnings presentation, April 2023
Slide 1: 4Q22 Earnings Presentation
4Q22 Earnings Presentation Rounding up a landmark year
Slide 2: Forward-Looking Statements & Disclaimer
Forward-Looking Statements & Disclaimer This communication includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements other than statements of historical facts included in this communication, including those regardi
Slide 3: Key highlights
AT A GLANCE Key highlights $265m FY22 $41m 4Q22 Total adjusted EBITDA at the top end of 2022 guidance range(1) $592m 4Q22 strategic initiatives Prepaid 2nd lien debt(2) 5 14 Aquadrill floater and HE rigs acquired Floater and HE rigs in operation(3) 95% Technical 91% Economic 4Q22 utilization Footnot
Slide 4: A transformational acquisition, delivering value for shareholders
AQUADRILL ACQUISITION A transformational acquisition, delivering value for shareholders A highly attractive transaction for all stakeholders Acquisition provides enhanced fleet and scale Consideration Governance Closing Drillships Harsh environment Tender Assist Units All-stock transaction J. Robert
Slide 5: Demand continuing to accelerate in a tightening market
MARKET OVERVIEW Demand continuing to accelerate in a tightening market E&P spending expected to be buoyant in coming years Benign UDW fixtures reflect tightening market dynamics(1) Benign UDW floater fixtures Marketed utilization Current drillships marketed utilization USDkpd Offshore E&P Spending,
Slide 6: A snapshot of the income statement and balance sheet
4Q22 FINANCIALS A snapshot of the income statement and balance sheet Income statement highlights 4Q22 3Q22 % In $’million • Full year 2022 operating revenue within financial guidance at $1,116m Total operating revenue(1) 228 269 (15) Total adjusted EBITDA(2) 41 71 (42) • Full year 2022 total adjuste
Slide 7: Significant debt deleveraging advancements
DEBT PROFILE Significant debt deleveraging advancements Evolution in debt since 3Q22 Gross principal debt, $’million(1) Convertible Note 1L Term Loan (2) 2L Term Loan ~65% 50 175 $938m 713 (442) 50 $342m (153) 175 117 (3) Sep-30 4Q22 paydown 1Q23 paydown Apr-05 Footnotes: (1)Excludes exit fees; (2)S
Slide 8: Capitalizing on opportunities to maximize shareholder value
VALUE CREATION INITIATIVES AND MILESTONES Our path forwards Capitalizing on opportunities to maximize shareholder value Enhance positioning in core Recent milestones markets February 2022 April 2022 October 2022 Proactively develop Chapter 11 emergence Euronext Expand listing NYSE re-listing capital
Slide 9: Q&A
Q&A