Nabors Industries Ltd. · NYSE:NBR
Nabors Industries — Q2 2015 Earnings Presentation
14 slides from Nabors Industries's earnings presentation, Aug 4, 2015
Slide 1: 2Q15 Earnings Presentation
2Q15 Earnings Presentation August 5, 2015 Presenters: Anthony G. Petrello Chairman, President & Chief Executive Officer William J. Restrepo Chief Financial Officer
Slide 2: Forward-Looking Statements
Forward-Looking Statements We often discuss expectations regarding our markets, demand for our products and services, and our future performance in our annual and quarterly reports, press releases, and other written and oral statements. Such statements, including statements in this document incorpor
Slide 3: Recent Highlights
Recent Highlights 1111, NABORS 3
Slide 4: Financial Summary
Financial Summary ($000 except EPS) 2Q14 3Q14 4Q14 1Q15 2Q15 Revenue $1,616,405 $1,810,911 $1,783,407 $1,421,209 $862,189 Adjusted EBITDA 416,280 489,958 445,692 374,466 288,177 Operating Income 133,460 203,377 152,120 93,447 69,981 GAAP Diluted EPS(1) 0.21(2) 0.34(3) (3.06)(4) 0.43(5) (0.14)(6) (1)
Slide 5: Current Debt and Liquidity
Current Debt and Liquidity Liquidity(4) (at June 30, 2015) • Cash & Available Capacity: $2,345 Investment in Affiliate (at June 30, 2015) • C&J stock(5): $ 825 (1) (2) (3) (4) (5) Capitalization defined as Net Debt plus Shareholders’ Equity Coverage defined as TTM Adjusted EBITDA / TTM Interest Expe
Slide 6: Drilling & Rig Services
Drilling & Rig Services 1111, NABORS 6
Slide 7: 2Q15 Rig Utilization & Availability
2Q15 Rig Utilization & Availability 2Q15 Rig Average Rig Fleet(1) Years Utilization U.S. Lower 48 AC Legacy U.S. Lower 48 Total U.S. Offshore Alaska 172 85 257 17 19 92 12 104 8 8 53% 14% 40% 47% 42% 57 10 17% Canada International 175 127 73% Subtotal PACE®-X Construction(2) Intl. Newbuilds & Upgrad
Slide 8: 2Q15 U.S. Rig Utilization Power Type and Pad Capability
2Q15 U.S. Rig Utilization Power Type and Pad Capability % As of 6/30/15 8 Walking Skidding Pad Capable Not Pad Capable Total Rigs Total AC Legacy Grand Total WorkingTotal 69120 17 Util. 58% 14% WorkingTotal 1018 313 Util. 56% 23% Total 57% 20% WorkingTotal 834 665 Util. 24% 9% 172 85 Util. 51% 12% 7
Slide 9: PACE-X Rig Deployments & Rig Years
PACE®-X Rig Deployments & Rig Years 45 40 35 30 25 20 15 10 5 0 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Deployments Cumulative Deployments Cumulative Rig Years 37 PACE®-X Rig Years through 2Q15 > As of 6/30/15 9
Slide 10: 2Q15 International Working Rigs
2Q15 International Working Rigs As of 6/30/15 10 Total 124 Russia 4 Saudi 41 Venezuela 5 Kuwait 2 Malaysia 1 Mexico 7 Oman 4 PNG 1 Romania 1 Ecuador 5 India 4 Iraq 1 Italy 1 Kazakhstan 2 Kurdistan 2 Algeria 10 Angola 1 Australia 1 Argentina 23 Colombia 7 Congo 1
Slide 11: Outlook and Summary
Outlook and Summary 1111, NABORS 11
Slide 12: Strategic Focus
Strategic Focus Capitalize on the existing asset base > Differentiate the rig and service offerings > Improve financial flexibility > Enhance operational excellence > 12
Slide 13: Appendix
Appendix 1111, NABORS 13
Slide 14: Rig Margins & Activity
Rig Margins & Activity (1) Margin = gross margin per rig per day for the period. Gross margin is computed by subtracting direct costs from operating revenues for the period. (2) Includes early termination payment of $30 million 14 Drilling 3Q14 4Q14 1Q15 2Q15 Margin (1)Rig Yrs Margin (1)Rig Yrs Marg