Transocean Ltd (switzerland) · NYSE:RIG
Transocean Ltd (switzerland) — Transocean — Howard Weil Energy Conference 2007
18 slides from Transocean Ltd (switzerland)'s conference presentation, Apr 3, 2007
Slide 1: Howard Weil Energy Conference, April 2, 2007
Robert L. Long Chief Executive Officer Howard Weil Energy Conference April 2, 2007 New Orleans, LA
Slide 2: Forward-Looking Statement
Forward-Looking Statement The statements described in this presentation that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements which could be made
Slide 3: Company Overview
Largest contract driller in most significant offshore markets $21.6 billion backlog Supply constrained in most markets Significant growth in revenues/earnings Most technologically advanced floater fleet Cash generation - access to capital Almost $6 billion committed to reinvestment or already return
Slide 4: Largest Offshore Driller
Manager Jackup Semi and Drillship Other MODU Grand Total Transocean 25 53 78 GlobalSantaFe 43 14 57 Noble 39 14 3 56 Pride 29 14 3 46 ENSCO 43 1 44 Diamond Offshore 13 31 44 Seadrill 5 3 8 Largest Offshore Driller (1) (2) Excludes ownership in barges, MOPU's, platform rigs, land rigs, equity ownersh
Slide 5: Timing of Contracted & Uncontracted Deepwater Deliveries
Timing of Contracted & Uncontracted Deepwater Deliveries Contracted Floaters Uncontracted Floaters Running Total H1-2007 5 0 5 H2-2007 2 0 7 H1-2008 10 0 17 H2-2008 3 6 26 H1-2009 8 3 37 H2-2009 9 4 50 H1-2010 4 4 58 H2-2010 Average duration of newbuild contracts 5.3 years Average newbuild dayrate $
Slide 6: The Floater World in 2010
Manager Existing Semi and Drillship Newbuild Semi and Drillship Grand Total Transocean 53 3 56 GlobalSantaFe 14 2 16 Noble 14 3 17 Pride 14 14 ENSCO 1 3 4 Diamond Offshore 31 2 33 Seadrill 3 8 11 Dolphin 9 1 10 Other Established 68 10 78 The Floater World in 2010 (1) (2) Excludes ownership in jackup
Slide 7: The Floater World in 2010
Manager Existing Semi and Drillship Newbuild Semi and Drillship Grand Total Transocean 53 3 56 GlobalSantaFe 14 2 16 Noble 14 3 17 Pride 14 14 ENSCO 1 3 4 Diamond Offshore 31 2 33 Seadrill 3 8 11 Dolphin 9 1 10 Other Established 68 10 78 Aker Drilling 2 2 Frigstad 1 1 MPF 1 1 Odebrecht 1 1 Odfjell 1
Slide 8: A growing business - for a very long time
New plays in established areas GoM Ultra deep Eastern GoM Brazil Santos and Espirito Santos basins (light oil) West Africa Emerging markets India/Mexico/S. China Sea/West Africa Eastern Mediterranean/Black Sea/ East Africa/Canada Sustained Demand A growing business - for a very long time
Slide 9: Deepwater Fleet - Contract Status
Deepwater Fleet - Contract Status (1) Includes firm contracts and fixed price options. Source: Transocean Fleet Status Report March 7, 2007.
Slide 10: Other Market Sectors
Mid-water floater sector aided by strength in deepwater North Sea demand remains strong, especially Norway Numerous term contract opportunities Recent contract signings confirm current dayrate range $350K - $435K Jackup sector remains robust Some multi-year opportunities - - India, Arabian Gulf, Gul
Slide 11: Long-Term Focus
Focused on helping our customers access reserves Efficiently Cost effectively Clear Leader class drillships Ultra deep water / ultra deep drilling / dual activity Managed pressure drilling Wells which currently cannot be drilled Technology to improve reliability of drilling in loop currents Future f
Slide 12: Focus On Execution
Safety Recordable incidents at lowest level in company's history Personnel Recruitment, retention, training Major shipyard projects (on schedule and on budget) 3 enhanced Enterprise-class rigs 2 major upgrades (Sedco 700-series) Daily operations Cost control New initiatives (continued improvement in
Slide 13: Summary
Exceptional business climate continues Contract backlog supports improved financial performance through 2009 and strong cash flow, opportunities for growth Company differentiating itself with premium fleet and technology initiatives Continuing to return capital to shareholders and reinvest in the bu
Slide 14: Question & Answer
Howard Weil Energy Conference April 2, 2007 New Orleans, LA Question & Answer
Slide 15: Appendix
Appendix <p> j Transocean
Slide 16: Contract Backlog by Years
High-Specification Fleet Remaining Fleet 2007 2.5 2 2008 3.8 2.3 2009 3.8 1.2 2010 2.6 0.5 2011 1.2 0.2 2012-15 1.6 $4.5 $6.1 $5.0 $3.1 $1.4 $1.6 (Remaining) Contract Backlog by Years Total Contract Backlog(1) = $21.6 Billion Calculated by multiplying the contracted operating dayrate by the firm con
Slide 17: Percent of Fleet Under Contract Commitments
Other Floaters Fleet (mid-water) (20 Rigs) Percent of Fleet Under Contract Commitments Committed 0.38 Uncommitted 0.62 Committed 0.93 Uncommitted 0.07 Committed 0.86 Uncommitted 0.14 High-Specification Floaters Fleet (37 Rigs(2)) 2009 2007 Committed Uncommitted Committed 1 Uncommitted 0 2008 Committ
Slide 18: Return of Value to Shareholders
Return of Value to Shareholders 26% 15% 16% 10% 13% 15% Source: Public filings and statements by individual companies. Data reflects activity announced or completed during 2005, 2006 and through March 1, 2007. Calculated based on amount of announced activity divided by market cap. More aggressive re