Sed Energy Holdings Plc · OSL:ENH
Sed Energy — SeaBird Exploration — SEG International Exposition 2013
16 slides from Sed Energy's conference presentation, Sep 23, 2013
Slide 1: SeaBird Exploration
SeaBird Exploration SEG International Exposition 23 September 2013
Slide 2: Forward-looking statements
Forward-looking statements All statements contained in this presentation that are not statements of historical facts, including statements on projected operating results, financial position, business strategy and other plans and objectives for future results, constitute forward-looking statements an
Slide 3: SeaBird at a glance
SeaBird at a glance • Global provider of marine 2D and 3D seismic data for the oil and gas industry • Market leader in core business segments • Offices in Cyprus, Oslo, Dubai, Houston and Singapore • 550 employees • Uniquely positioned with its industry-leading Health, Safety, Security, Environment
Slide 4: Core business segments
Core business segments 2D acquisition 3D acquisition Source Multi-client • Global market • 4-8 streamer • Natural fit with • Optimize fleet leader market fleet composition utilization • Largest fleet • Smaller areas; • Attractive market • Capitalize on challenging trends attractive environments; opp
Slide 5: Well positioned fleet mix
Well positioned fleet mix 2D vessels and source vessels 3D vessels Geo Pacific, 8 X 6000m Shallow water 3D vessels Kondor Explorer Harrier Explorer Aquila Explorer Voyager Explorer 4 X 8000m 4 X 6000m Munin Explorer Hawk Explorer Northern Explorer Osprey Explorer Note: Aquila Explorer is currently o
Slide 6: Blue-chip client base
Blue-chip client base • History of operational excellence ensures blue-chip client base • Leading HSSEQ systems prequalifies the company to work with most oil majors, which sets it apart from it’s competitors Major oil National oil Independent oil / seismic 6
Slide 7: Sales strategy
Sales strategy • The company is generally targeting to have a mix of long-term and short-term contracts • We will generally look to have a portion of the fleet working on longer assignments – Ensures a steady revenue stream – Higher utilization – Given the higher utilization on longer-term contracts
Slide 8: Multi-client strategy
Multi-client strategy • Optimize fleet utilization and capitalize on attractive investment opportunities • Will generally look to partner with other industry participants • Three projects to date in 2013; additional projects under review for second half of the year • Will require time and investment
Slide 9: Snøspurv 2D multi-client survey
Snøspurv 2D multi-client survey • 6,300 km 2D survey in the Barents Sea in partnership with Searcher Seismic • Completed July 2013; processed data available to clients from Q4 2013 • Well-tie survey linking geology from Barents Sea West to Barents Sea Southeast • Wisting discovery for OMV will give
Slide 10: Namibia 2D multi-client survey
Namibia 2D multi-client survey • 5,400 km 2D survey in Namibia in partnership with GeoPartners • Completed July 2013; processed data available to clients from Q4 2013 • Project is funded by existing operators • New block partners trigger additional data sales 10
Slide 11: Multi-client library
Multi-client library Multi-client libraries with further sales potential Survey partners and country Number of km Year completed Searcher Seismic Australia 13,213 2009 / 2011 / 2012 TGS Indonesia 7,414 2009 / 2010 / 2011 1) MCG Barbados 7,018 2012 / 2013 Searcher Seismic Philippines 6,850 2012 Searc
Slide 12: Historical operating comparison
Historical operating comparison Revenues EBITDA 60 20 (USD millions) (USD millions) 48.7 48.6 18 17.2 50 45.5 16 40.2 14 40 34.9 12 11.7 11.1 30 10 43.6 48.5 8 6.8 20 38.4 34.5 36.2 6 3.7 10 4 2 0 0 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Contract revenue Multi-client revenue Cap
Slide 13: Regional areas of focus
Regional areas of focus ra Jt SeaBird Exploration
Slide 14: Segment operating activity
Segment operating activity Contract revenue by region 2D/3D contract revenues (USD millions) (USD millions) 60.0 60.0 50.0 50.0 35.7 40.0 2.8 40.0 33.3 11.0 22.9 7.5 31.5 30.0 30.0 23.5 18.7 12.7 10.5 18.4 20.0 12.2 20.0 29.8 18.9 17.5 10.0 20.4 10.9 10.0 13.4 12.8 10.3 6.9 11.0 5.2 4.6 0.0 0.0 Q2 2
Slide 15: Market pricing and outlook
Market pricing and outlook 2D High end • Strong day rates continued through (USD thousand) the second quarter 2013 $120 120 $110 $110 $110 $110 $100 • Pricing remains firm 100 $85 $85 80 $75 $90 • High level of tender activity in both 60 $70 $70 $70 2D and niche 3D markets 40 $60 $60 $45 $45 $45 20
Slide 16: SeaBird Exploration
SeaBird Exploration
SeaBird Exploration — SEG International Exposition 2013 on 6ix