Transocean Ltd (switzerland) · NYSE:RIG
Transocean Ltd (switzerland) — Transocean — Non-Deal Roadshow (August 2009)
18 slides from Transocean Ltd (switzerland)'s roadshow presentation, Aug 31, 2009
Slide 1: Transocean Investor Presentation August 31, 2009
Transocean Investor Presentation August 31, 2009 Exhibit 99.1
Slide 2: Forward Looking Statement
2 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 mad
Slide 3: Key Investment Highlights
3 Key Investment Highlights • Unique Contract Driller – World’s largest offshore drilling company – Diversified revenue sources – Substantial contract revenue backlog • Positioned to Outperform – World’s largest ultra-deepwater fleet – Positive outlook for ultra-deepwater market
Slide 4: Leading Offshore Drilling Contractor
4 Leading Offshore Drilling Contractor • 140 rigs – presence in every major offshore market • 20,700 people • Unmatched operating experience • Outstanding technical resources • Unique resources in well planning and completions • Corporate responsibility
Slide 5: Largest Worldwide Rig Fleet
5 65 26 42 42 14 20 8 7 6 Largest Worldwide Rig Fleet NE ESV DO SDRL PDE Rigs Under Construction Ultra-Deepwater Floaters Deepwater Floaters High Spec/Harsh Env. Floaters Midwater Floaters Jackups RIG
Slide 6: RIG Floaters Emphasize Advanced Technology
6 8 19 10 5 2 2 4 2 1 1 3 1 1 1 3 2 6 2 RIG Floaters Emphasize Advanced Technology RIG Has Most Dynamic Positioning Experience Under Construction & Recently Delivered Active 5th Gen Older DP Rigs Total 326 rig years of DP experience Total 20 rig years of DP experience
Slide 7: Diversified Revenue Source
7 42% 23% 26% 3% 3% 3% High Spec Midwater Jackups ADTI & CMI Contract Intangible Other 43% 33% 24% Integrated NOC Independent Diversified Revenue Source First Half 2009 - $6 billion By Asset Class By Customer
Slide 8: Strong Backlog Creates Visibility
8 4.2 8.8 7.0 5.0 8.7 Strong Backlog Creates Visibility 2009 Remaining 2010 2011 2012 2013-20 (US$ Billions) Total Contract Revenue Backlog - $33.7 billion
Slide 9: Substantial Financial Flexibility
9 Substantial Financial Flexibility From Free Cash Flow Backlog 0.3 0.9 2.9 4.2 2.4 4.1 2.2 3.0 0.8 2.3 2.0 2.5 2.0 2009 Remaining 2010 2011 2012 2013 2014-2019 2020-2038 Scheduled Debt Maturities Free Cash Flow Backlog Total Free Cash Flow Backlog Exceeds Total Debt By $4.4 billion (US$ Billions)
Slide 10: Near Term Market Challenges – 2009 & 2010
10 Near Term Market Challenges – 2009 & 2010 • Jackups – 20 of 65 Transocean rigs idle/stacked – 88% of newbuilds uncontracted – Lack of significant tenders – West Africa: weak activity and increased local content requirements – Growth from Middle East slowing due to OPEC cuts – Mexico is a potentia
Slide 11: Positive Ultra-Deepwater Outlook
11 Positive Ultra-Deepwater Outlook • West Africa – Nigeria • IOC-lead consortium for +/- 28 wells • Pre-qualification for 1 DW + 1 UDW units with 1H2012 start and 4 year terms – Angola • Inquiry for two dynamically positioned units for 3-5 years each commencing in 2011-12 • Tender for one dynamical
Slide 12: Petrobras/Brazil Update
12 Petrobras/Brazil Update • Petrobras remains bullish on Brazil – Increasing resource estimates for Tupi – Santos basin pre-salt resource potential of 50-70 BBOE – Pursuing available ultra-deepwater units for 2010 • IOCs and Independents assessing opportunities – Recent “first oil” celebrations for
Slide 13: RIG Near Term UDW Availability is Limited
13 Nov-11 Dec-11 Mar-11 Aug-11 Oct-10 Feb-11 Jan-11 RIG Near Term UDW Availability is Limited Aug-09 Oct-09 Jan-10 May-10 Aug-10 Nov-10 Feb-11 May-11 Aug-11 Nov-11 Deepwater Horizon Sedco Energy Discoverer Deep Seas Discoverer Enterprise Deepwater Frontier Sedco Express Deepwater Nautilus
Slide 14: RIG Deepwater Availability Before 2011
14 Jul-10 Jul-10 Oct-09 May-10 Jul-10 Jun-10 RIG Deepwater Availability Before 2011 Sep-09 Aug-09 Nov-09 Feb-10 May-10 Aug-10 Nov-10 Transocean Rather Sedco 709 Sovereign Explorer Henry Goodrich Discoverer 534 Transocean Richardson Jack Bates Contract Shipyard Nov-10 Nov-10 Jan-11
Slide 15: RIG Midwater Availability in 2H2009
15 Aug-09 Aug-09 Sep-09 Nov-09 Dec-09 Dec-09 Stacked, rig to be sold Stacked Stacked Stacked RIG Midwater Availability in 2H2009 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 GSF Arctic II Sedco 712 C. Kirk Rhein Jr. Sedco 703 Actinia GSF Arctic III Sedco 700 Transocean John Shaw Transocean Legend Sedneth 701
Slide 16: RIG's 2009 Jackup Exposure – 30 Rigs
16 Aug-09 Aug-09 Sep-09 Sep-09 Sep-09 Sep-09 Oct-09 Oct-09 Oct-09 Oct-09 Oct-09 Nov-09 RIG’s 2009 Jackup Exposure – 30 Rigs Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 TO Nordic GSF Key Singapore GSF Key Gibraltar Trident IV Trident VIII GSF Adriatic V GSF Rig 103 Interocean III GSF Adriatic VI GSF Adriatic
Slide 17: Key Investment Highlights
17 Key Investment Highlights • Unique Contract Driller – World’s largest offshore drilling company – Diversified revenue sources – Substantial contract revenue backlog • Positioned to Outperform – World’s largest ultra-deepwater fleet – Positive outlook for ultra-deepwater market
Slide 18: Footnotes
18 Footnotes Per July 1, 2009 company-issued Fleet Status Report, August 3, 2009 Fleet Update Summary and September 1, 2009 Fleet Update Summary. “High-Spec” and “Midwater” Floaters classifications are as described in the Fleet Status Report. Rig count is 138, plus newbuilds, less three “other” rigs