Seadrill Limited · NYSE:SDRL
Seadrill — DNB Oil, Offshore and Shipping Conference 2019
10 slides from Seadrill's conference presentation, Mar 6, 2019
Slide 1: Seadrill Investor Presentation
Seadrill Investor Presentation DNB Oil, Offshore and Shipping Conference, Oslo 06 March 2019
Slide 2: Disclaimer
Disclaimer We have prepared this document solely for informational purposes. You should not definitively rely upon it or use it to form the definitive basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transaction or otherwise. The information contained h
Slide 3: Our investment proposition
3 Our investment proposition ▪ Scale, modern fleet and embedded growth ▪ Proven track record of safe and efficient operations ▪ Competitive cost structure ▪ Good capital and contract discipline ▪ Leveraged play on the recovery 3
Slide 4: Scale, modern fleet and embedded growth
Scale, modern fleet and embedded growth Owned ▪ 35 delivered rigs (19 floaters, 16 jack-ups) ▪ Backlog: $2.0 billion Managed ▪ 11 rigs (8 floaters, 3 ▪ 5 jack-ups ▪ 4 newbuild floaters ▪ 4 floaters1 tenders) ▪ Backlog: $1.1 billion ▪ Backlog: $306 million ▪ Ownership: 50% ▪ Backlog: $920 million ▪ O
Slide 5: Our new joint venture with Sonangol
Our new joint venture with Sonangol ▪ Seadrill will manage and operate 2 Seadrill drillships, and 2 newbuild drillships from Sonangol ▪ Well positioned for new contracting Two 7G Two drillships opportunities in high growth Angolan Drillships from Seadrill’s (Libongos, owned or market Quenguela) Bare
Slide 6: Our other investments
Our other investments ▪ Backlog:$1.7 billion ▪ Revenue: $890 million ▪ Revenue: $469 million ▪ EBITDA: $72 million ▪ EBITDA: $321 million ▪ Net interest bearing debt: $ 586 ▪ Cash: $193 million million ▪ Debt: $ 833 million ▪ $45 million convertible note ▪ c. $80m of loans due from the JV ▪ 16% equi
Slide 7: Proven track record of safe and efficient operations
Proven track record of safe and efficient operations Our Safety Track Record Economic Utilization (%) ▪ Industry-leading safety track record – TRIF below 2018 99 97 96 96 IADC average ▪ Safety culture sets the standard for how we operate everyday ▪ Industry-leading training using high-resolution dri
Slide 8: Competitive cost structure
Competitive cost structure All-in operating cost per rig1 $k/day 2 Floaters Jack-ups -49% 2015 194 2016 -34% 169 2017 2018 133 127 111 112 -48% 98 98 79 -25% 63 53 50 46 47 41 41 Seadrill Ltd.3 Peer Group (excludes Seadrill Ltd.3 Peer Group (excludes Seadrill Ltd.) Seadrill Ltd.) Notes: 1) All-in op
Slide 9: Ultra-deepwater pricing dynamics
Ultra-deepwater pricing dynamics Reactivating cold- Illustrative dayrates: Current stacked rigs <$250k >$300k 2 169 22 Rigs Available 29 93 25 No. of rigs1 Contracted Idle/ warm Cold stacked Newbuilds Total UDW 79% Marketed utilization Notes 1) UDW fleet based on rigs classified by IHS Markit Rigpoi
Slide 10: Our investment proposition
Our investment proposition ▪ Strongly believe in an offshore market recovery ▪ Proven track record of safe and efficient operations ▪ Competitive on cost ▪ Well positioned, asset, balance sheet and liquidity wise ▪ Ability to deploy our assets intelligently and leverage the recovery 10
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