S.d. Standard Etc Plc · OSL:SDSD
S.d. Standard Etc — S.D. Standard Drilling — Investor Presentation (March 2018)
14 slides from S.d. Standard Etc's investor presentation, March 2018
Slide 1: S.D. Standard Drilling Plc. Company Presentation March 2018
S.D. Standard Drilling Plc. Company Presentation March 2018
Slide 2: Important Information
Important Information This presentation 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”, “es
Slide 3: Company overview
Company overview Founded in 2010 Headquarter in Limassol, Cyprus Listed on Oslo Stock Exchange (ticker: “SDSD”) The Company has since the inception in 2010 completed seven (7x) equity private placements, totalling ~USD 480m (~USD 105m since Dec – 2016), and made five (5x) distributions to it
Slide 4: Asset Play - well positioned for recovery and opportunities
Asset Play - well positioned for recovery and opportunities Acquisitions at all-time low Lowest break-even Access to opportunities Modern fleet of large PSV’s Solid cash position No debt 4
Slide 5: Modern fleet of large-size PSV vessels – 100% owned
Modern fleet of large-size PSV vessels – 100% owned Standard Vessels (5x) Standard Viking Standard Supplier Standard Princess Standard Supporter Standard Provider (2008) (2007) (2008) (2009) (2010) Purchase price: Purchase price: Purchase price: Purchase price: Purchase price: ~USD 13.3m(1) ~USD 13.
Slide 6: Mid-size PSV vessels – partly owned
Mid-size PSV vessels – partly owned PSV Opportunity III Vessels (7x) – 25.5% owned New World Supply Vessels (6x) – 26.2% owned 3x vessels 2x vessels 2x vessels 6x vessels Purchase price: Purchase price: Purchase price: Purchase price: ~USD 2.5m(1) ~USD 5.4m(1) ~USD 5.9m(1) ~USD 5.1m(1) Ownership: 25
Slide 7: Large-size PSV vessels – contract overview
All large vessels are Large-size PSV vessels – contract overview currently working on term contracts Standard Vessels (100% owned) 2018 2019 Vessel Built Client Country 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Large-size Vessels Standard Viking 2007 Peterson UK Standard Princess 2008 Premier Oil UK ~10 days in dry-d
Slide 8: Mid-size PSV vessels – contract overview
Mid-size PSV vessels – contract overview PSV Opportunity III (25.5% owned) 2018 2019 Vessel Built Client Country 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Mid-size Vessels FS Arendal 2006 Repsol UK FS Aberdour 2009 Centrica UK (1) ~10 days in dry-dock FS Balmoral 2008 Ineos UK FS Kristiansand 2005 TBN UK (1) FS Braem
Slide 9: SDSD has no debt
SDSD has no debt SDSD has a competitive advantage compared to industry peers A C B Source: Clarksons Platou Securities 9
Slide 10: SDSD has low overhead costs
SDSD has low overhead costs 2 SDSD has a competitive advantage compared to industry peers SDSD(1) Company #1 Company #2 Company #3 Company #4 Company #5 Company #6 (1) Adjusted for pro-rata ownership of mid-size PSV vessels and subsidiary SG&A costs Source: Clarksons Platou Securities 10
Slide 11: Lowest break-even
Lowest break-even Average cash break-even, all-in costs (USD / Day) ~11,000 -39% 7,000 6,700 Average peers • Size SDSD Mid SDSD •Large Competitive cost position and all equity balance sheet securing low all-in cost 1: Large, medium and small vessels 11
Slide 12: Signs of recovery – large vessels leading the way
Signs of recovery – large vessels leading the way Increased tender activity Increased rig activity Large-size PSV term rates (900m2) Mid-size PSV term rates (500-750m2) USD (‘000) USD (‘000) Last 10yr avg. USD ~19.6k/d Last 5yr avg. Last 10yr avg. USD ~16.4k/d ~USD 21.6k/d Last 5yr avg. ~USD 18.
Slide 13: Summary - well positioned for recovery and opportunities
Summary - well positioned for recovery and opportunities Lowest break-even Acquisitions at all-time low Best cost position with considerably lower Average discount of ~45 % to new-built overhead than peers and all equity parity at NOK 1.61 per share (1) balance sheet securing lowest break-even in th
Slide 14: Standard Drilling
Gd) stanvaro DRILLING
S.D. Standard Drilling — Investor Presentation (March 2018) on 6ix