Slide 1: Borr Drilling Limited Q3 2017 Results
Borr Drilling Limited Q3 2017 Results November 22th 2017 |
Slide 2: Disclaimer
Disclaimer These materials may contain statements about future events and expectations that are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believes”, “expects”, “anticipates”, “intends”, “estimates”, “wi
Slide 3: Key events since inception
Key events since inception 30 Nov 2016 15 Mar 2017 11 Jul 2017 12 Sep 2017 Magni Group signed a Signed letter of intent Signed letter of Signed letter of intent for purchase agreement for and placed deposit for commitment for “Frigg” “Norve” for a 140-160 two premium jack-up ten existing and
Slide 4: Premium assets, experienced board and management team
Premium assets, experienced board and management team Premium jack-up fleets1 Strong organisation Delivered 2011 or later Delivered pre 2011 Board Borr 3 20 2 22 Rowan 4 12 16 Potentially Tor Olav Trøim Fredrik Halvorsen Jan Rask appointing one or (Chairman) (Director) (Director) two further Directo
Slide 5: Third quarter review
Third quarter review Highlights • Letter of commitment received from Total E&P Nigeria Limited for work in Nigeria • Completed the listing on Oslo Stock Exchange 30 August 2017 • Accepted a letter of intent from BW Energy Dussafu for work in Gabon Subsequent events • Borr Drilling and Schlumberger s
Slide 6: Key Financial Results
Key Financial Results Consolidated Statement of Operations Summary Three months to Nine months to September 30, September 30, (In millions of US dollars) 2017 2017 Revenues - - Rig operating and maintenance expenses (9.4) (14.8) Depreciation and amortization (8.0) (12.5) General and administrative e
Slide 7: Outlook
Outlook Macro environment • Oil price is strengthening • Operators have failed to replace produced reserves • Future supply/demand balance cannot be maintained by unconventional oil Source: SEB 7|
Slide 8: Outlook
Outlook Rig market • We continue to look at opportunities for acquiring attractive assets • Encouraging customer response to our approach on (a) wellsite integration and (b) willingness to align commercial objectives • Clear bifurcation in observed utilization between old and modern units • Tenderin
Slide 9: Q&A
Q&A |