Nabors Industries Ltd. · NYSE:NBR
Nabors Industries — Q1 2016 Earnings Presentation
11 slides from Nabors Industries's earnings presentation, Apr 26, 2016
Slide 1: Forward-Looking Statements
2 We often discuss expectations regarding our markets, demand for our products and services, and our future performance in our annual and quarterly reports, press releases, and other written and oral statements. Such statements, including statements in this document incorporated by reference that re
Slide 2: Forward-Looking Statements
Forward-Looking Statements We often discuss expectations regarding our markets, demand for our products and services, and our future performance in our annual and quarterly reports, press releases, and other written and oral statements. Such statements, including statements in this document incorpor
Slide 3: Financial Summary
4 Financial Summary Diluted Earnings (Losses) Per Share from continuing operations Includes net benefit of 23¢ per share for net gain from the C&J Energy Services transaction, tax benefits from various international jurisdictions, and severance charges from workforce reductions Includes 23¢ per shar
Slide 4: Current Debt and Liquidity
5 Current Debt and Liquidity 1. Capitalization defined as Net Debt plus Shareholders’ Equity 2. Coverage defined as TTM Adjusted EBITDA / TTM Interest Expense 3. Leverage defined as Total Debt / TTM Adjusted EBITDA Note: Subtotals may not foot due to rounding * Based on 3/31/16 CJES share price Liqu
Slide 5: Current Debt and Liquidity
Current Debt and Liquidity High 4Q15 1016 Change Change (SMM's) 3/31/2012 12/31/2015 __3/31/2016 __1Q16 to 4Q15_1Q16 from High Total Debt $4,750 $3,662 $3,590 ($72) ($1,160) Cash and ST Investments 494 275 222 (53) (272) Net Debt $4,256 $3,387 $3,369 ($18) ($887) Shareholder’s Equity 5,811 4,283 3,9
Slide 6: 1Q16 Rig Utilization & Availability
7 1Q16 Rig Utilization & Availability (1) As of 3/31/16 Rig Fleet(1) 1Q16 Rig Years Average Utilization U.S. Lower 48 AC 175 51 29% Legacy 47 3 6% U.S. Lower 48 Total 222 54 24% U.S. Offshore 17 6 35% Alaska 16 5 30% Canada 54 13 23% International 136 111 81% Subtotal 445 188 42% Lower 48 Constructi
Slide 7: 3/31/16 U.S. Rig Utilization
8 3/31/16 U.S. Rig Utilization Power Type and Capacity Walking Skidding Pad Not Pad Total Total Capable Capable Rigs % Working Total Util. Working Total Util. Total Working Total Util. Util. AC 38* 124 31% 3** 18 17% 29% 2 33 6% 175 25% Legacy 0 7 0% 0 7 0% 0% 1 33 3% 47 2% Grand Total 38* 131 29% 3
Slide 8: 3/31/16 International Working Rigs
9 3/31/16 International Working Rigs Algeria 10 Congo 0 Kazakhstan 2 Oman 5 Angola 1 Ecuador 1 Kurdistan 0 PNG 1 Argentina 20 India 2 Kuwait 2 Russia 4 Bahrain 1 Iraq 0 Malaysia 1 Saudi 42 Colombia 8 Italy 1 Mexico 3 Venezuela 5 Total 109
Slide 9: International Working Rigs Map
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Slide 10: Rig Margins & Activity
11 Rig Margins & Activity (1) Margin = gross margin per rig per day for the period. Gross margin is computed by subtracting direct costs from operating revenues for the period. 2Q15 3Q15 4Q15 1Q16 Drilling Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs Margin (1) Rig Yrs U.S. Drilling $13,
Slide 11: Rig Margins & Activity
Rig Margins & Activity Drilling 2Q15 3Q15 4Q15 1016 Margin Rig Yrs Margin Rig Yrs Margin) Rig Yrs Margin Rig Yrs U.S. Drilling Canada International $13,739 119.5 7,771 9.7 17,263 127.1 $11,177 103.0 6,349 17.2 18,613 121.3 $12,274 91.0 9,473 14.4 16,321 117.5 $10,043 64.9 3,585 12.5 16,489 110.5 (1)