24 slides from Transocean Ltd (switzerland)'s investor presentation, Aug 30, 2011
Slide 1: Transocean Ltd. August-September 2011
Exhibit 99.3 Transocean Ltd. August-September 2011
Slide 2: Legal Disclaimer
Legal Disclaimer Legal Disclaimer 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
Slide 3: Transocean is the Industry Leader
Transocean is the Industry Leader Transocean is the Industry Leader • World’s largest offshore contract driller – Largest fleet in all asset classes – Operate in all markets worldwide – Significant relationships across the customer spectrum • Positioned to lead – Premier position in ultra-deepwater
Slide 4: Key Investment Highlights
Key Investment Highlights Key Investment Highlights • Industry leader committed to customers, employees, and shareholders • Visibility and stability due to solid backlog • Financial flexibility • Improving our fleet in accordance with strategy • Leveraged to global opportunities in an improving mark
Slide 5: Strategy to Lead in Offshore Resource Development
Strategy to Lead in Offshore Resource Development Transocean Strategy to Lead in Offshore Resource Development
Slide 6: Commitment to Drive Shareholder Value
Commitment to Drive Shareholder Value Commitment to Drive Shareholder Value Return Cash to Shareholders Capital Investment Debt Reduction Margin Improvement
Slide 7: Largest Worldwide Rig Fleet
Largest Worldwide Rig Fleet Largest Worldwide Rig Fleet (5) RIG (2) (3) (4) Pro forma Aker Drilling ESV NE DO SDRL Rigs Under Construction Ultra- Deepwater Floaters Deepwater Floaters Midwater Floaters Jackups
Slide 8: Diversified Revenue Source
Diversified Revenue Source YTD June 2011 Revenues - $4.5 billion (1) 33% 36% 31% 41% 14% 23% Diversified Revenue Source By Asset Class (5) By Customer Integrated NOC Independent 12% 7% 3% Ultra-Deepwater Deepwater Midwater Jackups ADTI Other
Slide 9: Strong Backlog Creates Visibility
Strong Backlog Creates Visibility Total Contract Revenue Backlog - $23.6 billion (6) 0.8 1.2 2.2 4.6 3.6 1.9 3.0 Strong Backlog Creates Visibility 4.1 (US$ billions) 7.6 5.2 3.8 2.9 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 Remaining -20 0.6 1.2 0.8 0.7 0.3 Ultra -Deepwater Floaters Deepwater Floaters Mid
Slide 10: Substantial Free Cash Flow Backlog
Substantial Free Cash Flow Backlog Total Free Cash Flow Backlog of $10.9 billion (7) 1.9 1.9 1.8 0.9 3.2 0.75 1.0 1.0 3.2 3.4 2.6 1.9 3.1 Substantial Free Cash Flow Backlog (US$ billions) Remaining 2014-2019 2020-2038 0.0 1.0 2.0 3.0 4.0 5.0 Estimated Dividend Distribution Scheduled Debt Maturities
Slide 11: Fleet Management: Create Opportunities & Drive Returns
Fleet Management: Create Opportunities & Drive Returns 1. Core 2. Solid performers 3. Non-core acquisitions & divestitures 1. Ultra-deepwater 2. Harsh Environment 3. High-spec Jackups 4. High quality floaters and jackups 11 Fleet Management: Create Opportunities & Drive Returns Future • Acquire, bui
Slide 12: Newbuild Philosophy Drives Investment Decisions
Newbuild Philosophy Drives Investment Decisions Customer Requirements as a Starting Point Newbuild Philosophy Drives Investment Decisions Does RIG have a suitable unit available? Provide Upgrade Can a unit be upgraded? Is an acquisition available? Buy Build (To Initial Contract) Is a newbuild approp
Slide 13: Aker Drilling - Acquisition Details
Aker Drilling - Acquisition Details Shareholder Value Financing Strategic Impact Aker Drilling - Acquisition Details • Cash offer for 100% of the shares for NOK 26.50 per share • Contributes approximately $1 billion in backlog • Expected to be immediately accretive to RIG’s earnings • $1.4 billion c
Slide 14: Jackup Market More Active And Evolving
Jackup Market More Active And Evolving Key Market Drivers Current Market Overview Transocean Fleet (2) - 60 Global Fleet (9) - 354 1 23 36 18 33 48 255 • Demand increasing • Continued demand growth is required to: – Absorb uncontracted newbuilds – Bring more idle jackups back to work – Increase dayr
Slide 15: Midwater Market Activity Improving
Midwater Market Activity Improving Key Market Drivers Current Market Overview Transocean Fleet (2) - 28 Global Fleet (9) - 87 • No influx of newbuilds • Demand increasing 2H11 • Active areas include North Sea, India, & Southeast Asia • Deepwater moored units may be threat in 2011 • Short-term contra
Slide 16: Deepwater Demand Still Slow to Respond
Deepwater Demand Still Slow to Respond Key Market Drivers Current Market Overview Transocean Fleet (2) - 18 Global Fleet (9) - 56 5 13 10 4 3 39 • Tightening ultra-deepwater and improving midwater • Demand increasing 2H11 • Dayrates remain stable • Moored / lower spec units seeing some idle time • U
Slide 17: Deepwater Opportunities
Deepwater Opportunities Deepwater Opportunities • Brazil: Tendering 2+ units • Egypt: 2 units required • Australia: 3 units required • Angola: 2 units required Egypt Angola Brazil Australia
Slide 18: Ultra-Deepwater Strengthening
Ultra-Deepwater Strengthening Key Market Drivers Current Market Overview Transocean Fleet (2) - 27 Global Fleet (9) - 98 Market almost sold out in 2011 – Petrobras has contracted four units – Lack of availability increases opportunity for deepwater fleet Market utilization over 95% Tendering pace ac
Slide 19: Ultra-Deepwater Opportunities
Ultra-Deepwater Opportunities Ultra-Deepwater Opportunities • India: 4 units required for 3 year terms • Southeast Asia: Several short term tenders • Nigeria: 2+ units for term work • UK: Strong demand for summer season • Norway: Undersupplied – Customers urgent to contract • Australia: 1+ unit Indi
Slide 20: Long-Term Ultra-Deepwater Outlook is Positive
Long-Term Ultra-Deepwater Outlook is Positive Long-Term Ultra-Deepwater Outlook is Positive Philippines India China Indonesia Australia Mozambique / Tanzania Black Sea / Turkey Israel Gabon Cote d’Ivoire Ghana Liberia Sierra Leona Brazil USGOM Mexico
Slide 21: Macondo Update
Macondo Update Macondo Update • RIG internal investigation report issued on June 22, 2011 – Concluded the incident was the result of interrelated well design, construction, and temporary abandonment decisions that compromised the integrity of the well • BOEMRE/USCG final reports expected soon • Cont
Slide 22: Key Investment Highlights - Recap
Key Investment Highlights - Recap Key Investment Highlights - Recap • Industry leader committed to customers, employees, and shareholders • Visibility and stability due to solid backlog • Financial flexibility • Improving our fleet in accordance with strategy • Leveraged to global opportunities in a
Slide 23: Transocean Ltd. August-September 2011
Transocean Ltd. August-September 2011
Slide 24: Footnotes
Footnotes Footnotes (1) Amounts have been restated to reflect the impact of discontinued operations. (2) Per Fleet Status Report issued July 13, 2011 & Fleet Update Summary issued August 17, 2011. Floaters classifications are by water depth as described in the Fleet Status Report. Harsh Environment