Investor Presentation • May 11, 2017
Investor Presentation
Open in ViewerOpens in native device viewer
Oslo, 11th of May 2017
This presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated («relevant persons»). Any person who is not a relevant person should not act or rely on these presentations or any of its contents. Information in the following presentations relating to price at which relevant investments have been bought or sold in the past or the yield on such investments cannot be relied upon as a guide to future performance of such investments. This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Awilco Drilling PLC or any affiliated company thereof. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, and observe, such restrictions.
This presentation may include certain forward-looking statements, estimates, predictions, influences and projections with respect to anticipated future performance and as to the market for products or services which may reflect various assumptions made by the management of the Company. These assumptions may or may not prove to be correct and no representation is made as to the accuracy of such statements, estimates, projections, predictions and influences. These statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. The information and opinions contained in this presentation are subject to change without notice and the Company assumes no responsibility or obligation to update publicly or review any of the forward-looking statements contained herein.
in USD thousands, except earnings per share
| Q1 2017 | Q1 2016 | |
|---|---|---|
| (unaudited) | (unaudited) | |
| Contract revenue | 31,647 | - |
| Reimbursables | 296 | 33 |
| Other revenue | 6 | 13 |
| 31,949 | 46 | |
| Rig operating expenses | 6,122 | 11,550 |
| Reimbursables | 42 | - |
| General and administrative expenses | 1,013 | 1,876 |
| Depreciation | 3,848 | 4,921 |
| 11,025 | 18,347 | |
| Operating profit/(loss) | 20,924 | (18,301) |
| Interest income | 32 | 287 |
| Interest expense | (1,817) | (2,014) |
| Other financial items | 185 | (514) |
| Net financial items | (1,600) | (2,241) |
| Profit/(loss) before tax | 19,324 | (20,542) |
| Tax (expense)/benefit | (3,523) | 1,860 |
| Net profit/(loss) | 15,801 | (18,682) |
| Total comprehensive income/(loss) | 15,801 | (18,682) |
| Attributable to shareholders of the parent | 15,801 | (18,682) |
| Basic and diluted earnings per share | 0.53 | (0.62) |
in USD thousands
| 31.03.2017 | 31.12.2016 | |
|---|---|---|
| (unaudited) | (audited) | |
| Rigs, machinery and equipment | 235,241 | 238,868 |
| Deferred tax asset | 376 | 3,058 |
| 235,617 | 241,926 | |
| Trade and other receivables | 13,883 | 17,269 |
| Prepayments and accrued revenue | 8,926 | 7,213 |
| Inventory | 4,809 | 4,844 |
| Cash and cash equivalents | 89,902 | 70,070 |
| Current tax | 22,079 | 22,079 |
| 139,599 | 121,475 | |
| Total assets | 375,216 | 363,401 |
| Paid in capital | 130,142 | 130,142 |
| Retained earnings | 106,721 | 96,926 |
| 236,863 | 227,068 | |
| Deferred tax liability | 1,645 | 1,129 |
| Long-term interest-bearing debt | 90,000 | 90,000 |
| 91,645 | 91,129 | |
| Current portion of long-term debt | 10,000 | 10,000 |
| Trade and other creditors | 1,730 | 573 |
| Accruals and provisions | 10,729 | 10,708 |
| Current tax payable | 24,249 | 23,923 |
| 46,708 | 45,204 | |
| Total equity and liabilities | 375,216 | 363,401 |
Operating for TAQA as part of the rig sharing agreement under the Apache contract, rig expected to return to Apache late May
Announcement of dividend payable of USD 0.20 per share
"The Company intends to distribute all free cash flow above a robust cash buffer to support operational working capital requirements and capital expenditure, including SPS."
| UK FLOATER MARKET | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CONTRACT STATUS | |||||||||||||||||||||
| 2017 | 2018 | ||||||||||||||||||||
| Company | Rig name | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| Transocean Prospect | |||||||||||||||||||||
| Sedco 711 | |||||||||||||||||||||
| Sedco 714 | |||||||||||||||||||||
| Transocean | Sedco 712 | on contract | |||||||||||||||||||
| Paul B. Loyd, Jr | on contract | ||||||||||||||||||||
| Transocean Spitsbergen | on contract | ||||||||||||||||||||
| Transocean Leader | on contract | ||||||||||||||||||||
| Ocean Nomad | |||||||||||||||||||||
| Ocean Princess | |||||||||||||||||||||
| Diamond Offshore | Ocean Vanguard | ||||||||||||||||||||
| Ocean Guardian | warm stck | ||||||||||||||||||||
| Ocean Valiant | on contract | options | |||||||||||||||||||
| Ocean Patriot | on contract | yard | warm stacked | ||||||||||||||||||
| Dolphin Drilling | Blackford Dolphin | ||||||||||||||||||||
| Awilco Drilling | WilHunter | ||||||||||||||||||||
| WilPhoenix | on contract | ||||||||||||||||||||
| Stena Drilling | Stena Spey | on contract | |||||||||||||||||||
| Paragon Drilling | Paragon MSS1 | warm stacked | on contract | ||||||||||||||||||
| North Atlantic Drilling | West Phoenix | on contract | |||||||||||||||||||
| Odfjell | Deepsea Aberdeen | on contract | |||||||||||||||||||
| ON CONTRACT OPTIONS EN ROUTE YARD |
WARM STACKED COLD STACKED |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.