Noble Corporation Plc A · NYSE:NE
Noble Corporation Plc A — Noble — Corporate Update (July 2020)
12 slides from Noble Corporation Plc A's corporate update, Jul 31, 2020
Slide 1: Business Plan Review
Preliminary Draft Privileged & Confidential Business Plan Review (Last Updated 5.13.20) July 1, 2020
Slide 2: Forward Looking Statement
Preliminary Draft Privileged & Confidential Forward Looking Statement The following presentation is for discussion purposes only and the information in the presentation is not complete and may be changed. The following presentation does not purport to contain all of the information that may be requi
Slide 3: Premium Fleet of Floating and Jackup Rigs
Preliminary Draft Premium Fleet of Floating Privileged & Confidential and Jackup Rigs • One of the industry’s youngest fleets • Excellent client relationships • Strong regional presence in key • Highly established best-in-class floating and jackup markets business systems 1
Slide 4: Jackup Rig Fleet
Preliminary Draft Privileged & Confidential Jackup Rig Fleet Noble Joe Knight1 Oct 2022 Noble Scott Marks Jul 2022 (standby – 365 days beginning May 2020) Noble Johnny Whitstine1 Mar 2022 Noble Roger Lewis Mar 2022 Noble Regina Allen May 2021 Noble Lloyd Noble Sep 2020 Noble Tom Prosser Aug 2020 (on
Slide 5: Floating Rig Fleet
Preliminary Draft Privileged & Confidential Floating Rig Fleet (on standby up to 90 days beginning April 2020) Noble Tom Madden Dec 2023 Noble Globetrotter II Sep 2023 Noble Globetrotter I Jul 2022 Noble Don Taylor Nov 2021 Noble Bob Douglas Sep 2021 Noble Clyde Boudreaux Jul 2020 Noble Sam Croft Ju
Slide 6: Business Plan Review: Dayrate Projections
Preliminary Draft Privileged & Confidential Business Plan Review: Dayrate Projections ($ in thousands) Average Dayrate $150 $132 $122 1 $120 $97 $92 Jackups $90 $84 $60 2020E 2021E 2022E 2023E 2024E $270 $259 $250 $238 $230 $214 $210 $200 Floaters $190 $187 $170 $150 2020E 2021E 2022E 2023E 2024E So
Slide 7: Key Operating Metrics
Preliminary Draft Privileged & Confidential Key Operating Metrics Active Rigs1 Active Utilization2 14.0 95% 92% 93% 90% 13.0 90% 12.0 12.0 12.0 12.0 85% 11.0 80% 10.0 9.2 75% 73% 9.0 8.7 Jackups 70% 68% 8.0 7.0 65% 6.0 60% 2020E 2021E 2022E 2023E 2024E 2020E 2021E 2022E 2023E 2024E 100% 8.0 96% 94%
Slide 8: Driving Cost Structure and Operational Efficiencies
Preliminary Draft Driving Cost Structure Privileged & Confidential and Operational Efficiencies ïƒ~ Overhead savings ïƒ~ Recently executed over $25 million of annualized G&A savings (primarily headcount driven)ïƒ~ Evaluations of further overhead savings are underway, with a focus on both headcount e
Slide 9: Revenue and EBITDA
Preliminary Draft Privileged & Confidential Revenue and EBITDA ($ in millions) Revenue and Growth EBITDA and Margin % % 1 -16% -16% 30% 13% 8% 20% 6% 19% 27% 31% Growth Margin $1,400 $400 $375 $1,218 $350 $1,200 $1,124 $303 $300 $1,000 $990 $907 $250 $800 $763 $200 $184 $186 $600 $150 $400 $100 $200
Slide 10: Capex and Free Cash Flow
Preliminary Draft Privileged & Confidential Capex and Free Cash Flow ($ in millions) Capital Expenditures Unlevered Free Cash Flow $200 $400 $180 $170 $158 $262 $160 $136 $206 $140 $200 $127 $120 $116 $143 $100 $80 $20 $ —$60 $40 ($85) $20 $ — ($200) 2020E 2021E 2022E 2023E 2024E 2020E 2021E 2022E 2
Slide 11: Functional Liquidity
Preliminary Draft Privileged & Confidential Functional Liquidity1 ($ in millions) $600 Status Quo Liquidity1 and Adjusted Liquidity2 do not give effect to potential debt / interest expense reduction from $400 liability management nor incorporate any new money $200 $ — ($200) ($400) ($600) ($800) ($8
Slide 12: Consolidated Financial Detail
Preliminary Draft Privileged & Confidential Consolidated Financial Detail ($ in millions) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 2020E 2021E 2022E 2023E 2024E Income Statement Revenue Jackups $142 $98 $80 $69 $46 $60 $94 $98 $389 $298 $449 $544 $576 Floaters 125 103 105 102