Vantage Drilling Company · OTC:VTGDF
Vantage Drilling — J.P. Morgan 2015 Global High Yield & Leveraged Finance Conference
15 slides from Vantage Drilling's conference presentation, Feb 24, 2015
Slide 1: J.P. Morgan 2015 Global High Yield & Leveraged Finance Conference
J.P. Morgan 2015 Global High Yield & Leveraged Finance Conference Miami, Florida February 24, 2015 Vantage Drilling Company Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Some of the statements in this presentation constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not his
Slide 3: Vantage Drilling Company Overview
Vantage Drilling Company Overview
Slide 4: Company Overview
NYSE VTG Market $127 Million Book Value $541 Million Enterprise $2.8 Billion Employees >1,300 Cap Value Company Overview Vantage Offices 4 Jackups 3 Drillships, plus 1 under Construction
Slide 5: Reality vs. Perception
Reality Perception Conditions Have Significantly Depressed Corporate Debt and Equity • The market for offshore rig services (even modern, efficient rigs) is severely depressed and it is believed that a recovery to more normal conditions will take several years. • Vantage has a fleet comprised of all
Slide 6: Vantage Drilling Strategic Focus
Vantage Drilling Strategic Focus
Slide 7: Strategic Overview
Strategic Overview Experienced People Financial Structure Long Term Customer Relationships High Specification Assets Vantage was founded with a vision of bringing the best people together with the highest specification, modern fleet in the offshore drilling industry. With exceptional operating perfo
Slide 8: Our People
Our People • Industry leading safety record – Lost time incident rate in 2013 and 2012 were .32 and .00, respectively, as we completed approximately 2.5 million and 2.2 million man-hours • Jack-up fleet has achieved approximately 99% productive time over the first months of operations. Each jack-up
Slide 9: Vantage Drilling High Specification Assets
Vantage Drilling High Specification Assets
Slide 10: High Specification Assets
Cobalt Explorer , a 7 th generation, dual-activity UDW drillship equipped with (2) seven-ram BOP’s and 10,000 feet of riser, will be our most technically advanced drillship We have built a fleet of new, premium assets that our customers demand now and for the future. High Specification Assets Jackup
Slide 11: Fleet Status and Customer Backlog
Customer backlog of approximately $2.5 Billion provides visibility to cash flows $130,000 $156,000 (2 years) $120,000 $165,000 (net) $183,000 (18 months) $140,000 (6 months) $153,000 $155,000 $155,000 $155,000 $152,500 (1 well) $155,000 $590,000 (5 years) $585,000 (8 years) 5 wells (175 days) 60 day
Slide 12: Strong Customer Backlog
4% IOC 17% NOC 79% We have focused our marketing efforts on customers with long-term drilling requirements with the opportunity for long-term contracts Strong Customer Backlog $2.5 Billion of backlog with strong customer base:
Slide 13: Market Conditions
Considerations – • By the end of 2016, How many rigs will have been cold stacked or scrapped? Even with new rig deliveries, will the global fleet of remaining workable rigs be at the level of 2010/2011? How soon and how much will Petrobras demand be a major factor? What will be the price of oil? Per
Slide 14: Significant Growth Achieved
Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Platinum Explorer Titanium Explorer Tungsten Explorer Significant Growth Achieved $- $200.0 $400.0 $600.0 $800.0 2009 2010 2011 2012 2013 $111.50 $278.4 $485.8 $471.5 $732.1 Revenue $- $75.0 $150.0 $225.0 $300.0 $18.4 $46.9 $110.2 $14
Slide 15: Debt Maturities and Leverage
• No significant debt maturities until 2017 • Cash flow from operations projected to cover all debt service through 2018 • Increased leverage over last 2 years has been to fund deployment of Titanium Explorer and Tungsten Explorer • As current fleet is all working, leverage will rapidly decline 2011
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