Transocean Ltd (switzerland) · NYSE:RIG
Transocean Ltd (switzerland) — Transocean — Susquehanna Investor Meeting (November 2016)
14 slides from Transocean Ltd (switzerland)'s conference presentation, Nov 9, 2016
Slide 1: Susquehanna Investor Meeting
Susquehanna Investor Meeting Jeremy Thigpen, President and Chief Executive Officer November 9, 2016
Slide 2: Legal Disclaimer
Legal Disclaimer 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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements contain words
Slide 3: Leading International Offshore Contract Driller
Leading International Offshore Contract Driller Investment Highlights Best-In-Class High-Specification Floaters • Largest combined fleet of high-specification UDW and HE floaters, including 17 newbuild 45 41 Harsh-Environment Under Construction floaters added / delivered since 2008 40 No. of UDW and
Slide 4: Provider of High-Specification Floaters
Provider of High-Specification Floaters 17 High-Specification Drillships and Semisubmersibles Added / Delivered Since 2008 2009 2010‐13 2014‐15 2016 • Americas • Inspiration • Invictus • Thalassa • Clear Leader • KG2 • Asgard • Proteus • KG1 • India • Conqueror • Petrobras 10000 • Luanda • Dev Drill
Slide 5: Current and Projected Fleet Composition
Current and Projected Fleet Composition Current Fleet 2020 Projected Fleet % of Fleet (Rig Count - 57)* % of Fleet 18% (10) 24% 51% 19% (29) 55% (11) 10% 12% (7) 11% Additionally Under Construction: Projected Fleet Includes: • 5 UDW Drillships • 11 UDW dual BOP rigs • 5 High-Specification Jackups •
Slide 6: Industry Leading Contract Backlog
Industry Leading Contract Backlog Total backlog - $12.2 billion* Extensive Customer Relationships** (~90% Investment Grade Cos.) 5.0 $4.7 4.5 Revenue through Sept. 30, 2016 Ultra-Deepwater Floaters 4.0 $3.8 Harsh-Environment Floaters 3.5 Deepwater & Midwater Floaters (US$ billions) 3.0 $2.7 High-Spe
Slide 7: Unmatched Deepwater Expertise
Unmatched Deepwater Expertise Transocean • Comprehensive drilling operations database Competitor 1 – Includes ~4,000 offshore wells drilled since 2010 (~1,000 UDW wells) Competitor 2 – Activity in all major worldwide UDW basins Competitor 3 – Extensive customer base including Competitor 4 Supermajor
Slide 8: Significant Transocean Backlog into 2028
Significant Transocean Backlog into 2028 $2.8 $2.6 $2.4 RIG $2.2 Backlog Composition by Year $2.0 NE $1.8 Backlog in US$ billions DO $1.6 $1.4 ESV $1.2 $4.1B RDC $1.0 $0.8 $12.2B $0.6 $4.7B $0.4 $3.8 $0.2 $2.2B $- 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Sources: Quarterly re
Slide 9: Proof of Performance
Proof of Performance Revenue Efficiency Adjusted Normalized - Revenue & EBITDA Average 2015 / YTD 2016 - 97% 102% 2,400 70% 100% 98% 60% 96% 1,800 50% 94% 92% 1,200 40% 90% 88% 30% 86% 600 84% 20% 82% 0 10% 80% 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 Total Fle
Slide 10: Solid Liquidity
Solid Liquidity 12.0 11.0 Projected liquidity at 10.0 December 31, 2018 Includes October 2016 Senior 9.0 Secured Notes, net cash position increased ~$530M $1.4B - $1.9B* ~$1.2B 8.0 $2.6B (US$ billions) 7.0 $3.0B 6.0 5.0 $3.6B - $4.1B* 4.0 $3.1B 3.0 2.0 1.0 $2.5B at 9/30/16 0.0 Cash at 9/30/16 plus R
Slide 11: Debt Profile
Debt Profile 3,500 3,000 $3,193 3,000 $2,521 2,612 Adjusted Debt* (US$ millions) 2,500 Profile at 6/30/16 2,000 after July 2016 1,500 1,294 952 1,010 Senior Notes / 1,000 666 559 574 580 Tender Offers 500 32 47 0 2016 2017 2018 2019 2019 2020 2021 2022 2023 2024 2025+ 3,500 Pro Forma 3,000 3,000 Adj
Slide 12: Projected Oil Supply and Demand
Projected Oil Supply and Demand Improving Macro Environment Source: DNB Markets / IEA / Transocean 12
Slide 13: Summary – The Path Forward
Summary – The Path Forward Transocean will: • Maintain position as the leading deepwater drilling contractor – Best-in-class fleet – Strongest backlog • Remain focused on strong operational execution and balance sheet management to enhance liquidity • Use technical capabilities to strengthen our mar
Slide 14: Susquehanna Investor Meeting
Susquehanna Investor Meeting Jeremy Thigpen, President and Chief Executive Officer November 9, 2016
Transocean — Susquehanna Investor Meeting (November 2016) on 6ix