Ventura Offshore Holding Ltd. · OSL:VTURA
Ventura Offshore — Q3 2024 Earnings Presentation
12 slides from Ventura Offshore's earnings presentation, Nov 28, 2024
Slide 1: Q3 Report 2024
Q3 Report 2024 28th November 2024 1
Slide 2: Disclaimer
Disclaimer Ventura Offshore Holding Ltd. and its affiliates (hereinafter “Ventura Offshore” or the “Company”) has prepared this presentation solely for informational purposes. This presentation contains proprietary information regarding the Company. This presentation and any information herein shall
Slide 3: Q3 Main Highlights
Q3 Main Highlights 2011 Completed the acquisition of the 2012-built SSV Catarina CAROLINA 10,000 WD Concluded raising $105 million to finance the acquisition of SSV Catarina Petrobras - Buzios KBOS through a tap issue of the bond loan for $ 55 million and $ 50 million Q2-26 in gross proceeds through
Slide 4: Q3 Main Financial Highlights
Q3 Main Financial Highlights • Adjusted revenue of $ 51.2mill for the quarter that consists of: Strong Q3 financials and balance sheet • $48.0m of revenue for the 3 owned units (excluding non-cash revenue from amortization of Unfavourable Contract Liability) $51.2m • $1.4m of recognized mobilization
Slide 5: Financial Highlights
Financial Highlights Balance Sheet Highlights 3Q24: • Accounts Receivable includes $22.4 mill for SSV Catarina/ENI • Prepaid Expenses includes $9.5 million in cash collateral for performance bond for the Catarina/ENI contract • Intangible assets of $12.4 mill related to customer relationships for ma
Slide 6: Drilling Industry Fundamentals
Drilling Industry Fundamentals Investment Change 2024 – 2025 Global Floater Demand (Rig Years) 6,5% By Supply Segment Despite some headwinds for offshore drillers 143 Equip & Mat -1,1% 130 worldwide due to geopolitical instability and 118 122 Ops & Maint -1,3% uncertainty, the fundamentals for the i
Slide 7: Petrobras Expected Demand
Petrobras Expected Demand Total of up to 9 Rigs Demand Drivers Exploration: Roncador • Floater Rig demand for current 51 Wells in the next 5 years, South and Southeast 935 days development margin and Equatorial Margin • Up to 9 Rigs to be initiate contracts in 2025 and 1H 2026 • More than 25-rig yea
Slide 8: Petrobras Business Plan 2025 - 2029
Petrobras Business Plan 2025 - 2029 Petrobras Business Plan Focus: Total of US$ 111b Investments evenly distributed over 5 years • Maximize value focusing on profitable assets • Replace reserves, including the exploration of new frontiers 25 • Increase Natura gas Supply • Promote decarbonization 20
Slide 9: Petrobras Business Plan 2025 - 2029
Petrobras Business Plan 2025 - 2029 Focus on discovering new reserves Exploration in new frontiers 2025 – 2029: 1,7 11 3,2 51 $7.9b 25 Wells 15 3 South and Southeast margin (40%) Equatorial margin (38%) Others (22%) 9
Slide 10: Asia Demand
Asia Demand Main Ongoing Opportunities PTTEP - 15 wells, two years, with 11 option wells By Rig Type JU SS DS Tender Southeast Asia 44 5 7 Eni Timor-Leste - three firm wells, 350m (P&A), estimated duration of 105 days Australia/NZ 5 22 0 20 40 60 TotalEnergies Papua New - DP3 with MPD, 1+1 well (WD
Slide 11: Long Term View and Positioning
Long Term View and Positioning Strong Operator The Brazilian market has a prospect for growth and a continued interest from in Attractive Petrobras and other international companies. The Brazilian government Brazil Market continues to offer offshore exploration blocks. Ventura Offshore resources and
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