Nabors Industries Ltd. · NYSE:NBR
Nabors Industries — Q1 2015 Earnings Presentation
16 slides from Nabors Industries's earnings presentation, Apr 22, 2015
Slide 1: 1Q15 Earnings Presentation
general_ppt_4vert_title_0416.pngnbr_alt_logo_horz2.jpg1Q15 Earnings Presentation April 22, 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
nbr_alt_logo_horz2.jpg\\Houfile1\Home1\Tyler.Renaudin\Desktop\125_K8V0477.jpgRecent Highlights
Slide 4: Financial Summary
general_ppt_4vert_int_0416.pngnbr_alt_logo_horz2.jpgFinancial Summary ($000’s except EPS) 1Q14 2Q14 3Q14 4Q14 1Q15 Revenue $1,587,173 $1,616,405 $1,810,911 $1,783,407 $1,421,209 Adjusted EBITDA 391,168 416,280 489,958 445,692 374,466 Operating Income 109,041 133,460 203,377 152,120 93,447 GAAP Dilut
Slide 5: Deal Closed: C&J/NCPS Merger Creates a Leading Diversified Completion & Production Services Provider
nbr_alt_logo_horz2.jpg.Key metrics of the deal .Received cash proceeds of approximately $688 million at closing .Nabors owns 53% of the outstanding equity in the combined company .Strategic imperative for the combination .Provides additional scale to capitalize on market dynamics with cost efficienc
Slide 6: Nabors' Financial Capability & Commitment
nbr_alt_logo_horz2.jpggeneral_ppt_4vert_title_0416.pngNabors’ Financial Capability & Commitment Liquidity Allows Nabors to Focus on Responsible Growth .Increasing financial flexibility has been Nabors’ priority over several years .Significant reinvestment of capital into global expansion and enhance
Slide 7: Improving Financial Flexibility
nbr_alt_logo_horz2.jpgHigh 3/31/12 4Q14 12/31/14 1Q15 3/31/15 Change 4Q14to 1Q15 Change 1Q15 from High ($MM's) Total Debt $4,773 $4,355 $3,825 ($530) ($948) Cash and ST Investments 494 536 621 85 127 Net Debt $4,279 $3,819 $3,204 (615) ($1,075) Shareholder’s Equity 5,811 4,909 4,959 (50) (852) Net D
Slide 8: Drilling & Rig Services
nbr_alt_logo_horz2.jpgG:\NCS\Investor_Relations\Marketing & Branding\Photos\NDUSA\North Dakota\NAB11_0415.jpgDrilling & Rig Services
Slide 9: 1Q15 Rig Utilization & Availability
general_ppt_4vert_int_0416.pngnbr_alt_logo_horz2.jpg1Q15 Rig Utilization & Availability RigFleet(1) 1Q15 Rig Years Average Utilization U.S. Lower 48 AC 171 123 72% Legacy 85 26 31% U.S. Lower 48Total 256 149 58% U.S. Offshore 16 8 51% Alaska 19 10 54% Canada 57 26 45% International 175 130 74% Subto
Slide 10: 1Q15 U.S. Rig Utilization Power Type and Pad Capability
nbr_alt_logo_horz2.jpg1Q15 U.S. Rig UtilizationPower Type and Pad Capability As of 3/31/15 Walking Skidding Pad Capable Not Pad Capable Total Working Total Util. Working Total Util. Total Working Total Util. Util. AC 73 114 64% 12 18 67% 64% 15 39 38% 58% Legacy 1 5 20% 2 11 18% 19% 11 69 16% 16% Gr
Slide 11: PACE-X Rig Deployments & Rig Years
nbr_alt_logo_horz2.jpg0 5 10 15 20 25 30 35 40 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 Deployments Cumulative Deployments Cumulative Rig Years PACE-X Rig Deployments & Rig Years >35 PACE®-X Rig Years through 1Q15 As of 3/31/15
Slide 12: 1Q15 International Working Rigs
nbr_alt_logo_horz2.jpg1Q15 International Working Rigs Algeria 10 India 2 Kuwait 2 Romania 1 Argentina 23 Iraq 1 Malaysia 1 Russia 5 Bahrain 1 Italy 1 Mexico 6 Saudi Arabia 42 Colombia 7 Kazakhstan 2 Oman 4 Venezuela 5 Congo 1 Kurdistan 2 PNG 1 Yemen 2 Ecuador 6 Australia 1 Total 126 As of 3/31/15
Slide 13: Outlook and Summary
nbr_alt_logo_horz2.jpgD:\NABORS_MGP2_04\North_Dakota_11.2011-1\300 PPI JPG (High Res)\NAB11_0008.jpgOutlook and Summary
Slide 14: Key Takeaways
general_ppt_4vert_int_0416.pngnbr_alt_logo_horz2.jpgKey Takeaways >Implement and execute innovative pricing and contract structures, while scaling cost structureand capital spending as necessary >Pursue opportunities to add rigs in high-spec drilling markets around the globe at attractive risk-adjus
Slide 15: Appendix
nbr_alt_logo_horz2.jpg\\Houfile1\Home1\Tyler.Renaudin\Desktop\007_G5A9435.jpgAppendix
Slide 16: Rig Margins & Activity
nbr_alt_logo_horz2.jpgRig Margins & Activity 2Q14 3Q14 4Q14 1Q15 Drilling Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs U.S. Drilling $11,380 215.3 $12,756(2) 216.0 $11,525 212.2 $13,487 167.6 Canada 10,034 21.6 9,663 34.3 9,889 36.9 9,927 25.6 International 14,124 127.