Odfjell Drilling Ltd. · OSL:ODL
Odfjell Drilling — Pareto Energy Conference 2022
8 slides from Odfjell Drilling's conference presentation, Sep 14, 2022
Slide 1: Pareto Energy Conference
Pareto Energy Conference 14 September 2022 Kjetil Gjersdal CEO
Slide 2: Odfjell Drilling at a glance
INTRODUCTION Odfjell Drilling at a glance Fleet of 8 sixth generation drilling units ✓ Efficient, high specification, harsh environment units with deepwater or ultra deepwater Pure-play harsh environment offshore drilling company with deepwater capabilities capabilities and experience ✓ Own Fleet of
Slide 3: Harsh environment specialist with unmatched competence
HARSH SPECIALIST Harsh environment specialist with unmatched competence Key factors securing Odfjell Drilling’s success Superior performance achieved through significant experience Normalised well delivery time Actual drilling days relative to expected drilling days1 Best Rigs +50% +45% Efficient, h
Slide 4: Odfjell Drilling's high-spec fleet with order backlog of $1.9bn
HIGH-SPECIFICATION FLEET Odfjell Drilling’s high-spec fleet with order backlog of $ 1.9bn Modern rigs have significantly higher utilisation ODL securing substantially more backlog than its peers Utilisation of semi-submersibles in Norway Rig years awarded in Norway last three years 1 100% Odfjell Dr
Slide 5: Significant increase in activity expected
STRONG MARKET OUTLOOK Significant increase in activity expected Unprecedented cash flow generation from E&P companies Record high sanctioning activity in Norway 5 Source: DNB Markets, Company
Slide 6: Limited supply facing expected ramp-up in activity
STRONG MARKET OUTLOOK Limited supply facing expected ramp-up in activity Current restricted supply creates favourable market dynamics Key highlights Current semi-submersible supply in Norway 27 ▪ Nearly all semi- submersibles in Norway are currently contracted +9 20 ‒ Deepsea Mira is the only 18 +2
Slide 7: Zero Emission Drilling – simply good business
ESG – REDUCED EMISSIONS Zero Emission Drilling – simply good business 7 2026 6 thousand tonne CO2 per well 5 40% 2035 4 3 70% 2 1 0 Baseline Optimise power Optimise power supply Green power supply Green power generation consumption
Slide 8: Key highlights
Key highlights 1 Harsh environment specialist with deepwater and ultra deepwater capabilities 2 Strong operational performance. On track to reduce emissions 3 Robust balance sheet and sound cash position 4 Improving markets and day rates in both deepwater and harsh environment markets 5 Long visibil