Transocean Ltd (switzerland) · NYSE:RIG
Transocean Ltd (switzerland) — Transocean — Howard Weil 2008 Energy Conference
19 slides from Transocean Ltd (switzerland)'s conference presentation, Apr 7, 2008
Slide 1: Howard Weil 2008 Energy Conference
April 7, 2008 New Orleans, LA Howard Weil 2008 Energy Conference Exhibit 99.1
Slide 2: Forward Looking Statement
Forward Looking Statement 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 be made
Slide 3: Key Investment Highlights
Positioned for superior performance World’s largest offshore drilling company Diversified revenue sources Substantial contract revenue backlog Positioned to benefit from strong drilling markets Outstanding shareholder value creation Key Investment Highlights
Slide 4: A Successful Business Model
A Successful Business Model Growth through Acquisitions, Newbuilds, Mergers (No speculative newbuilds) Differentiated by: - Fleet composition - Technology and technical capability - Organization - People - Multinational - ADTI / CMI Capture Long- Term Contracts to Create Base-line Cash Flow
Slide 5: Effective Execution Creates Success
Effective Execution Creates Success High quality, consistent and safe drilling services Continuous improvement Lateral learning Adapting technology Engineering in safety Proactive solutions for customers World class project management expertise Focus on people
Slide 6: Largest Worldwide Rig Fleet
Largest Worldwide Rig Fleet (1) 39 11 10 8 25 3 21 6 65 44 44 13 28 7 8 4 4 12 0 20 40 60 80 100 120 140 RIG NE ESV DO PDE SDRL High-Spec Floaters Midwater Floaters Jackups Newbuilds 137 62 49 46 45 22 2 3 1 2 1
Slide 7: BUs Comparable in Size to Competitors
BUs Comparable in Size to Competitors (2) 25 54 50 58 45 44 42 10 0 20 40 60 80 AMU EAU APU NE ESV DO PDE SDRL Rig Count
Slide 8: Strong Presence in all Major Markets
Strong Presence in all Major Markets (3) Newbuilds/Upgrades Asset Newbuild Floaters JV Floaters Sedco 706 Upgrade 6 2 1 South America Asset Floaters Jackups 7 2 Total 9 U.S. GoM & Canada Asset Floaters Jackups 15 - Total 15 Middle East/ Mediterranean Asset Floaters Jackups 1 20 Total 21 West Africa
Slide 9: Floater Demand Outstrips Supply
Market continues to be supply constrained 80 newbuilds on order (4) 69 percent contracted (4) Only a few midwater (for Norway) (4) Demand outlook remains very strong Development driving growth in established deepwater plays Continued exploration success in developing basins (Angola, Brazil, India) E
Slide 10: Most Floater Deliveries are Contracted
Most Floater Deliveries are Contracted (5) 0 2 4 6 8 10 12 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 0 14 28 42 56 70 84 Contracted Floaters Uncontracted Floaters Running Total
Slide 11: Jackup Market Stable Near-Term
Demand continues to grow Substantial hydrocarbon resources remain in many shallow water areas Exploitation drilling, increased recovery rates, gas Supply has responded to strong prices, dayrates unlikely to climb further Supply growth is a source of concern 28 newbuilds/upgrades delivered since Janu
Slide 12: Jackup Deliveries
Jackup Deliveries (5) 0 2 4 6 8 10 12 14 16 18 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 0 9 18 27 36 45 54 63 72 81 Contracted Jackups Uncontracted Jackups Jackup Running Total
Slide 13: A Targeted Jackup Strategy
A Targeted Jackup Strategy Position fleet in growth regions Middle East Norway Capture significant market share Serve a variety of customers NOCs Majors Independants Improve fleet quality through acquisitions and divestitures
Slide 14: Diversified Revenue Sources
Diversified Revenue Sources 32% 28% 29% 8% 3% Deepwater Midwater Jackups ADTI Other 50% 17% 33% Majors National Oil Independents By Asset Class (6) By Customer Proforma Revenue YTD September 30, 2007 $8,047 million
Slide 15: Historical Operating Margin Improvement
Historical Operating Margin Improvement (7) (US$ billions) 0 1 2 3 4 5 6 7 2003 2004 2005 2006 2007 5% 15% 25% 35% 45% 55% Revenue Operating Income Operating Margin
Slide 16: Strong Backlog Creates Visibility
8.7 3.8 2.7 6.1 2.5 8.5 0.0 2.0 4.0 6.0 8.0 10.0 2008 2009 2010 2011 2012 2013-16 Strong Backlog Creates Visibility Total Contract Revenue Backlog - $32.3 billion (8) (US$ billions)
Slide 17: Percent of Fleet Under Contract Commitments
Midwater Fleet (25 Rigs) Percent of Fleet Under Contract Commitments (3) 90% 10% 63% 37% 5% 95% High-Specification Floaters Fleet (47 Rigs (10) ) 2008 (Remaining) 2009 86% 14% 2010 65% 35% 33% 67% Jackups Fleet (65 Rigs) 85% 15% 46% 54% 20% 80% (9) Committed Uncommitted
Slide 18: Key Investment Highlights
Key Investment Highlights Positioned for superior performance World’s largest offshore drilling company Diversified revenue sources Substantial contract revenue backlog Positioned to benefit from strong drilling markets Outstanding shareholder value creation
Slide 19: Appendix
Appendix (1) Sources: Latest company-issued fleet status reports. “High-Spec” and “Midwater” Floaters classifications are as described in RIG’s March 10, 2008 Fleet Status Report. Excludes tenders, land rigs, managed rigs and rigs held for sale, where applicable. Newbuilds are inclusive of floaters