The document provides forward-looking statements and risk factors for an investor presentation by Rowan Companies. It states that Rowan is a leading offshore contract driller with a proven operational and safety track record spanning over 70 years. It operates 4 drillships and 23 jack-ups globally. While visible growth is expected through its joint venture with Saudi Aramco, called ARO Drilling, its financial and operating performance is subject to risks in the volatile offshore drilling market, including fluctuations in oil prices and drilling activity levels.
The corporate presentation is for Falco Resources Ltd and their Horne 5 project in Quebec, Canada. Key points:
- Horne 5 is one of the largest undeveloped gold projects in the world, with proven and probable reserves of 6.13 million ounces of gold equivalent.
- A feasibility study was completed which confirmed the project can support an economically viable, low-grade, high tonnage underground gold mine.
- Construction is targeted to start in 2019 with first gold production expected in late 2021. The mine is estimated to have an initial life of over 15 years.
- All-in sustaining costs are estimated to be low at US$399 per ounce of gold on average annual production
The corporate presentation is for Falco Resources Ltd and their Horne 5 project in Quebec, Canada. Key points include:
- Horne 5 is one of the largest undeveloped gold projects in the world, with proven and probable reserves of 6.13 million ounces of gold equivalent.
- A feasibility study was completed confirming the project can support an economically viable, low-grade, high tonnage underground gold mine.
- Construction is targeted to start in 2019 with first gold production expected in late 2021. The mine is planned for over 15 years of production.
- All-in sustaining costs are estimated to be low at US$399 per ounce of gold on average annual production of 219,
Chesapeake Energy reported its 1Q 2019 earnings. It highlighted operational and financial strategies to enhance margins and generate free cash flow through profitable and efficient growth from captured resources. Key highlights included a 13% year-over-year increase in adjusted oil production, $15.50/boe EBITDAX margin which was the highest in four years, and the Brazos Valley asset projected to be cash flow positive at the asset level in 2019. Chesapeake is focusing investments in its highest-margin oil-growth assets and cash-generating gas assets to deliver transformational oil growth and improved cash flow.
Newmont Mining Corporation announced the acquisition of Cripple Creek & Victor gold mine from AngloGold Ashanti. The transaction is valued at $820 million and is expected to close in the third quarter of 2015 pending regulatory approval. The acquisition is expected to be value accretive by adding profitable production of 350,000 to 400,000 ounces of gold per year at costs below Newmont's average. There is also potential to improve costs and efficiency at the mine and extend the mine life beyond the current permits which extend to 2026.
This investor presentation provides an overview of Rowan Companies and highlights reasons for investing in the company. Some key points include:
- Rowan has differentiated itself in the offshore drilling industry by focusing on demanding wells and owning a fleet of high-specification rigs well-positioned for key markets.
- The company has a large, diversified contract backlog that extends into 2018 and a strong balance sheet to pursue growth opportunities.
- Industry dynamics are favorable for Rowan as older rigs nearing the end of their lifespans will need to be replaced, and the company's rigs have scored well above average in capability assessments.
Rowan is a leading offshore contract driller with over 70 years of experience and a fleet of 4 drillships and 23 jack-ups deployed globally. The presentation highlights Rowan's joint venture with Saudi Aramco called ARO Drilling, which provides visible earnings growth over the next 15+ years. Rowan has a focus on demanding drilling applications and has a leading position in high-specification jack-ups. The company also has a sustainable capital structure with a strong balance sheet and debt maturity profile.
This investor presentation provides forward-looking statements and discusses risks and uncertainties that could cause actual results to differ from expectations. It highlights Rowan's track record in offshore drilling, its global fleet of drillships and jackups, and long experience in the industry. The presentation also summarizes the partnership with Saudi Aramco through ARO Drilling, which provides visible earnings growth over 15+ years. Finally, it discusses Rowan's quality assets focused on demanding drilling applications and its sustainable capital structure with a robust liquidity profile.
The document provides forward-looking statements regarding the company's expectations, beliefs, and future business prospects. It notes that actual results could differ materially from forward-looking statements due to various risk factors, including oil and gas prices, changes in the offshore drilling market, variable drilling activity and expenditures in the energy industry, and operating hazards. It also states that the company expressly disclaims any obligation to update or revise forward-looking statements except as required by law.
The corporate presentation is for Falco Resources Ltd and their Horne 5 project in Quebec, Canada. Key points:
- Horne 5 is one of the largest undeveloped gold projects in the world, with proven and probable reserves of 6.13 million ounces of gold equivalent.
- A feasibility study was completed which confirmed the project can support an economically viable, low-grade, high tonnage underground gold mine.
- Construction is targeted to start in 2019 with first gold production expected in late 2021. The mine is estimated to have an initial life of over 15 years.
- All-in sustaining costs are estimated to be low at US$399 per ounce of gold on average annual production
The corporate presentation is for Falco Resources Ltd and their Horne 5 project in Quebec, Canada. Key points include:
- Horne 5 is one of the largest undeveloped gold projects in the world, with proven and probable reserves of 6.13 million ounces of gold equivalent.
- A feasibility study was completed confirming the project can support an economically viable, low-grade, high tonnage underground gold mine.
- Construction is targeted to start in 2019 with first gold production expected in late 2021. The mine is planned for over 15 years of production.
- All-in sustaining costs are estimated to be low at US$399 per ounce of gold on average annual production of 219,
Chesapeake Energy reported its 1Q 2019 earnings. It highlighted operational and financial strategies to enhance margins and generate free cash flow through profitable and efficient growth from captured resources. Key highlights included a 13% year-over-year increase in adjusted oil production, $15.50/boe EBITDAX margin which was the highest in four years, and the Brazos Valley asset projected to be cash flow positive at the asset level in 2019. Chesapeake is focusing investments in its highest-margin oil-growth assets and cash-generating gas assets to deliver transformational oil growth and improved cash flow.
Newmont Mining Corporation announced the acquisition of Cripple Creek & Victor gold mine from AngloGold Ashanti. The transaction is valued at $820 million and is expected to close in the third quarter of 2015 pending regulatory approval. The acquisition is expected to be value accretive by adding profitable production of 350,000 to 400,000 ounces of gold per year at costs below Newmont's average. There is also potential to improve costs and efficiency at the mine and extend the mine life beyond the current permits which extend to 2026.
This investor presentation provides an overview of Rowan Companies and highlights reasons for investing in the company. Some key points include:
- Rowan has differentiated itself in the offshore drilling industry by focusing on demanding wells and owning a fleet of high-specification rigs well-positioned for key markets.
- The company has a large, diversified contract backlog that extends into 2018 and a strong balance sheet to pursue growth opportunities.
- Industry dynamics are favorable for Rowan as older rigs nearing the end of their lifespans will need to be replaced, and the company's rigs have scored well above average in capability assessments.
Rowan is a leading offshore contract driller with over 70 years of experience and a fleet of 4 drillships and 23 jack-ups deployed globally. The presentation highlights Rowan's joint venture with Saudi Aramco called ARO Drilling, which provides visible earnings growth over the next 15+ years. Rowan has a focus on demanding drilling applications and has a leading position in high-specification jack-ups. The company also has a sustainable capital structure with a strong balance sheet and debt maturity profile.
This investor presentation provides forward-looking statements and discusses risks and uncertainties that could cause actual results to differ from expectations. It highlights Rowan's track record in offshore drilling, its global fleet of drillships and jackups, and long experience in the industry. The presentation also summarizes the partnership with Saudi Aramco through ARO Drilling, which provides visible earnings growth over 15+ years. Finally, it discusses Rowan's quality assets focused on demanding drilling applications and its sustainable capital structure with a robust liquidity profile.
The document provides forward-looking statements regarding the company's expectations, beliefs, and future business prospects. It notes that actual results could differ materially from forward-looking statements due to various risk factors, including oil and gas prices, changes in the offshore drilling market, variable drilling activity and expenditures in the energy industry, and operating hazards. It also states that the company expressly disclaims any obligation to update or revise forward-looking statements except as required by law.
The document is an investor presentation for Rowan Companies discussing its business outlook. It notes that Rowan is well-positioned for growth with a young, high-specification fleet operating in several markets. It highlights Rowan's focus on improving margins through cost control, reducing downtime, and optimizing capital allocation as it generates free cash flow. The presentation also discusses trends of aging jack-ups leaving the market and fewer new competitors that directly compete with Rowan's assets and capabilities.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of four drillships and 23 jack-ups deployed globally. Rowan is well positioned through its partnership with Saudi Aramco, which provides visible earnings growth over the next 15+ years. Rowan has quality, high-specification assets and a focus on demanding drilling applications. It also has a sustainable capital structure with a strong balance sheet and liquidity to navigate the current market challenges. As market conditions improve, Rowan's assets are expected to see higher utilization due to their specifications being well-suited for customer demand.
This investor presentation provides an overview of Rowan Companies and its position in the offshore drilling market. Key points include:
- Rowan has a fleet of 4 drillships and 23 jack-ups deployed globally, with a focus on high-specification assets and expertise in demanding applications like HPHT.
- The company's partnership with Saudi Aramco through ARO Drilling provides 15+ years of visible earnings growth.
- Rowan is focused on quality assets and expertise in demanding drilling to generate superior returns.
- The company maintains a sustainable capital structure with a strong balance sheet and liquidity to navigate the market challenges.
- While market conditions remain difficult, Rowan is well positioned for recovery due to its high
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-ups deployed globally. Rowan has over 70 years of offshore drilling experience. Its partnership with Saudi Aramco, called ARO Drilling, provides visible earnings growth over the next 15+ years. Rowan has quality assets that are focused on demanding drilling applications. It also maintains a sustainable capital structure with a robust balance sheet and debt maturity profile.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-ups deployed globally. Rowan has over 70 years of offshore drilling experience. It is focused on demanding drilling services and has received numerous awards for its leadership in HPHT applications. Rowan is well positioned for market recovery due to its high specification assets, which typically see higher utilization compared to standard assets during market cycles. It also has a sustainable capital structure with a strong balance sheet and significant liquidity.
This investor presentation provides an overview of Rowan Companies and its business outlook. Key points include:
- Rowan has a fleet of 4 drillships and 23 jack-up rigs deployed globally, with over 70 years of offshore drilling experience.
- The company has formed a joint venture called ARO Drilling with Saudi Aramco, which will provide visible earnings growth for Rowan over the next 15+ years.
- Rowan is focused on high-specification assets and demanding drilling applications. Its drillships are considered best-in-class among 7th generation ultra-deepwater rigs.
- The company has a strong balance sheet and liquidity profile to navigate the current market downturn and pursue opport
The document is an investor presentation for Rowan Companies. It summarizes that Rowan is a leading offshore contract driller with a proven operational and safety track record spanning over 70 years. It has a fleet of 4 drillships and 23 jack-up rigs deployed globally. The presentation highlights that the company's partnership with Saudi Aramco through the ARO Drilling joint venture provides visible earnings growth over the next 15+ years. It also notes that Rowan has quality assets focused on demanding drilling applications and a sustainable capital structure to navigate the challenging market conditions.
Rowan is a leading offshore contract drilling company with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-up rigs deployed globally. Rowan has over 70 years of offshore drilling experience. It is focused on demanding drilling applications and has a strong track record in HPHT wells. Rowan has formed a joint venture called ARO Drilling with Saudi Aramco that will provide visible earnings growth over the next 15+ years from contracted work. Rowan is also focused on maintaining a sustainable capital structure to navigate the current market challenges.
Paas investor presentation july 2020 finalcsandovalduran
This presentation by Pan American Silver provides an overview of the company and its operations. It discusses Pan American's diversified portfolio of 9 silver mines located across Latin America, with a focus on 3 large growth catalysts: the Escobal mine in Guatemala, the new La Colorada skarn discovery in Mexico, and the Navidad project in Argentina. It also summarizes Pan American's track record in responsible mining practices including tailings management, climate reporting, and sustainability disclosure. Finally, it provides an update on the status of operations, noting that several mines had suspended operations due to COVID-19 but most have since resumed with protocols to protect workforce health and safety.
This presentation by Pan American Silver provides an overview of the company and its operations. It discusses Pan American's diversified portfolio of nine silver and gold mines throughout North and South America. It also provides details on the status of its operations during the COVID-19 pandemic, with some mines resuming operations in May and June after suspending in March and April. Additionally, it outlines Pan American's focus on responsible mining practices and sustainable development.
The document provides cautionary statements regarding forward-looking statements in the presentation. It notes that actual results can differ materially from expectations due to risks and uncertainties described in Chesapeake's SEC filings. It also defines terms used in the presentation like PV10, estimated ultimate recovery, and resource potential that are more speculative than proved reserves. The SEC prohibits including these estimates in filings.
Rowan provides forward-looking statements regarding its expectations and business outlook. It cautions that actual results could differ materially from forward-looking statements due to various risk factors, including fluctuations in oil prices and drilling activity. Rowan has a modern fleet of high-specification offshore rigs and aims to drive operational performance through waste reduction and cost control initiatives. It maintains a strong financial position and liquidity to navigate the current market challenges.
Rowan is a leading offshore drilling contractor with a modern fleet of high-specification rigs. It has formed a joint venture with Saudi Aramco, ARO Drilling, which will see Rowan contribute 5 rigs and Saudi Aramco 2 rigs, with plans for ARO Drilling to order up to 20 new rigs over 10 years. Rowan is well positioned in the current market with a strong financial position and focus on delivering demanding drilling services with its fleet of 19 high-specification jack-ups and 4 best-in-class ultra-deepwater drillships.
Pan American Silver Q2 2021 Investor PresentationSirenFisekci
This document discusses non-GAAP financial measures used by Pan American Silver Corp. It provides context on the acquisition of Tahoe Resources Inc. in 2019 and the integration of its operations. It also contains cautionary statements regarding the use of forward-looking statements and information, noting that actual results may differ due to risks and assumptions that, while reasonable, may prove to be incorrect.
Rowan provides forward-looking statements regarding its business and financial performance. It faces risks from fluctuating oil prices and drilling activity levels. Rowan has invested in a modern fleet of high-specification jack-up and ultra-deepwater rigs. It formed a joint venture with Saudi Aramco to operate rigs in Saudi Arabia, which will create long-term growth. Rowan focuses on improving efficiency and reducing costs to optimize returns through the market downturn.
This presentation provides an overview of Pan American Silver Corp., including key information about its operations, projects, and ESG initiatives. Some of the key points include:
- Pan American has 8 silver and gold mining operations in the Americas and over 500 million ounces of silver in proven and probable reserves.
- Major growth catalysts include the new La Colorada Skarn discovery in Mexico, the already-built Escobal mine in Guatemala, and the large undeveloped Navidad project in Argentina.
- The company has a 28-year track record of responsible mining practices and supporting local communities through employment, healthcare, and training programs.
This presentation provides an overview of Pan American Silver Corp., including key details about its operations, growth strategy, and approach to ESG. It discusses Pan American's large silver reserves of 529 million ounces, diversified portfolio of 8 mines in the Americas, and three major catalysts for growth. These include the new La Colorada Skarn discovery, the already-built Escobal mine, and the undeveloped Navidad silver deposit. The presentation also outlines Pan American's commitment to responsible operations, strong ESG practices, and priority of supporting communities and shareholders.
This presentation provides an overview of Pan American Silver Corp., a silver mining company with diversified operations in Latin America. It highlights three major assets that could drive future growth: 1) The new La Colorada Skarn discovery in Mexico with 100 million tonnes of inferred resources. 2) The Escobal mine in Guatemala, currently on care and maintenance, with 264 million ounces of silver reserves. 3) The undeveloped Navidad silver project in Argentina containing 632 million ounces of silver in measured and indicated resources. The presentation also discusses Pan American's focus on ESG issues like community support, workforce development, and responsible mining practices.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-ups deployed globally. Rowan has over 70 years of offshore drilling experience and its business is 100% dedicated to offshore drilling. It has approximately 2,300 employees worldwide. Rowan is well positioned to navigate the current challenging market through its partnership with Saudi Aramco, quality assets focused on demanding drilling, and sustainable capital structure.
ARO Drilling is a 50/50 joint venture between Rowan Companies and Saudi Aramco that owns and operates jack-up drilling rigs in Saudi Arabia. Over the next decade, ARO is expected to construct 20 new rigs supported by long-term contracts. ARO operates independently with dedicated management and its financial results impact Rowan through equity income. The venture provides visible earnings growth for Rowan through contributions, management fees, leases, and construction of new rigs over 15+ years.
The document is an investor presentation for Rowan Companies discussing its business outlook. It notes that Rowan is well-positioned for growth with a young, high-specification fleet operating in several markets. It highlights Rowan's focus on improving margins through cost control, reducing downtime, and optimizing capital allocation as it generates free cash flow. The presentation also discusses trends of aging jack-ups leaving the market and fewer new competitors that directly compete with Rowan's assets and capabilities.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of four drillships and 23 jack-ups deployed globally. Rowan is well positioned through its partnership with Saudi Aramco, which provides visible earnings growth over the next 15+ years. Rowan has quality, high-specification assets and a focus on demanding drilling applications. It also has a sustainable capital structure with a strong balance sheet and liquidity to navigate the current market challenges. As market conditions improve, Rowan's assets are expected to see higher utilization due to their specifications being well-suited for customer demand.
This investor presentation provides an overview of Rowan Companies and its position in the offshore drilling market. Key points include:
- Rowan has a fleet of 4 drillships and 23 jack-ups deployed globally, with a focus on high-specification assets and expertise in demanding applications like HPHT.
- The company's partnership with Saudi Aramco through ARO Drilling provides 15+ years of visible earnings growth.
- Rowan is focused on quality assets and expertise in demanding drilling to generate superior returns.
- The company maintains a sustainable capital structure with a strong balance sheet and liquidity to navigate the market challenges.
- While market conditions remain difficult, Rowan is well positioned for recovery due to its high
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-ups deployed globally. Rowan has over 70 years of offshore drilling experience. Its partnership with Saudi Aramco, called ARO Drilling, provides visible earnings growth over the next 15+ years. Rowan has quality assets that are focused on demanding drilling applications. It also maintains a sustainable capital structure with a robust balance sheet and debt maturity profile.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-ups deployed globally. Rowan has over 70 years of offshore drilling experience. It is focused on demanding drilling services and has received numerous awards for its leadership in HPHT applications. Rowan is well positioned for market recovery due to its high specification assets, which typically see higher utilization compared to standard assets during market cycles. It also has a sustainable capital structure with a strong balance sheet and significant liquidity.
This investor presentation provides an overview of Rowan Companies and its business outlook. Key points include:
- Rowan has a fleet of 4 drillships and 23 jack-up rigs deployed globally, with over 70 years of offshore drilling experience.
- The company has formed a joint venture called ARO Drilling with Saudi Aramco, which will provide visible earnings growth for Rowan over the next 15+ years.
- Rowan is focused on high-specification assets and demanding drilling applications. Its drillships are considered best-in-class among 7th generation ultra-deepwater rigs.
- The company has a strong balance sheet and liquidity profile to navigate the current market downturn and pursue opport
The document is an investor presentation for Rowan Companies. It summarizes that Rowan is a leading offshore contract driller with a proven operational and safety track record spanning over 70 years. It has a fleet of 4 drillships and 23 jack-up rigs deployed globally. The presentation highlights that the company's partnership with Saudi Aramco through the ARO Drilling joint venture provides visible earnings growth over the next 15+ years. It also notes that Rowan has quality assets focused on demanding drilling applications and a sustainable capital structure to navigate the challenging market conditions.
Rowan is a leading offshore contract drilling company with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-up rigs deployed globally. Rowan has over 70 years of offshore drilling experience. It is focused on demanding drilling applications and has a strong track record in HPHT wells. Rowan has formed a joint venture called ARO Drilling with Saudi Aramco that will provide visible earnings growth over the next 15+ years from contracted work. Rowan is also focused on maintaining a sustainable capital structure to navigate the current market challenges.
Paas investor presentation july 2020 finalcsandovalduran
This presentation by Pan American Silver provides an overview of the company and its operations. It discusses Pan American's diversified portfolio of 9 silver mines located across Latin America, with a focus on 3 large growth catalysts: the Escobal mine in Guatemala, the new La Colorada skarn discovery in Mexico, and the Navidad project in Argentina. It also summarizes Pan American's track record in responsible mining practices including tailings management, climate reporting, and sustainability disclosure. Finally, it provides an update on the status of operations, noting that several mines had suspended operations due to COVID-19 but most have since resumed with protocols to protect workforce health and safety.
This presentation by Pan American Silver provides an overview of the company and its operations. It discusses Pan American's diversified portfolio of nine silver and gold mines throughout North and South America. It also provides details on the status of its operations during the COVID-19 pandemic, with some mines resuming operations in May and June after suspending in March and April. Additionally, it outlines Pan American's focus on responsible mining practices and sustainable development.
The document provides cautionary statements regarding forward-looking statements in the presentation. It notes that actual results can differ materially from expectations due to risks and uncertainties described in Chesapeake's SEC filings. It also defines terms used in the presentation like PV10, estimated ultimate recovery, and resource potential that are more speculative than proved reserves. The SEC prohibits including these estimates in filings.
Rowan provides forward-looking statements regarding its expectations and business outlook. It cautions that actual results could differ materially from forward-looking statements due to various risk factors, including fluctuations in oil prices and drilling activity. Rowan has a modern fleet of high-specification offshore rigs and aims to drive operational performance through waste reduction and cost control initiatives. It maintains a strong financial position and liquidity to navigate the current market challenges.
Rowan is a leading offshore drilling contractor with a modern fleet of high-specification rigs. It has formed a joint venture with Saudi Aramco, ARO Drilling, which will see Rowan contribute 5 rigs and Saudi Aramco 2 rigs, with plans for ARO Drilling to order up to 20 new rigs over 10 years. Rowan is well positioned in the current market with a strong financial position and focus on delivering demanding drilling services with its fleet of 19 high-specification jack-ups and 4 best-in-class ultra-deepwater drillships.
Pan American Silver Q2 2021 Investor PresentationSirenFisekci
This document discusses non-GAAP financial measures used by Pan American Silver Corp. It provides context on the acquisition of Tahoe Resources Inc. in 2019 and the integration of its operations. It also contains cautionary statements regarding the use of forward-looking statements and information, noting that actual results may differ due to risks and assumptions that, while reasonable, may prove to be incorrect.
Rowan provides forward-looking statements regarding its business and financial performance. It faces risks from fluctuating oil prices and drilling activity levels. Rowan has invested in a modern fleet of high-specification jack-up and ultra-deepwater rigs. It formed a joint venture with Saudi Aramco to operate rigs in Saudi Arabia, which will create long-term growth. Rowan focuses on improving efficiency and reducing costs to optimize returns through the market downturn.
This presentation provides an overview of Pan American Silver Corp., including key information about its operations, projects, and ESG initiatives. Some of the key points include:
- Pan American has 8 silver and gold mining operations in the Americas and over 500 million ounces of silver in proven and probable reserves.
- Major growth catalysts include the new La Colorada Skarn discovery in Mexico, the already-built Escobal mine in Guatemala, and the large undeveloped Navidad project in Argentina.
- The company has a 28-year track record of responsible mining practices and supporting local communities through employment, healthcare, and training programs.
This presentation provides an overview of Pan American Silver Corp., including key details about its operations, growth strategy, and approach to ESG. It discusses Pan American's large silver reserves of 529 million ounces, diversified portfolio of 8 mines in the Americas, and three major catalysts for growth. These include the new La Colorada Skarn discovery, the already-built Escobal mine, and the undeveloped Navidad silver deposit. The presentation also outlines Pan American's commitment to responsible operations, strong ESG practices, and priority of supporting communities and shareholders.
This presentation provides an overview of Pan American Silver Corp., a silver mining company with diversified operations in Latin America. It highlights three major assets that could drive future growth: 1) The new La Colorada Skarn discovery in Mexico with 100 million tonnes of inferred resources. 2) The Escobal mine in Guatemala, currently on care and maintenance, with 264 million ounces of silver reserves. 3) The undeveloped Navidad silver project in Argentina containing 632 million ounces of silver in measured and indicated resources. The presentation also discusses Pan American's focus on ESG issues like community support, workforce development, and responsible mining practices.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
This presentation provides an overview of Pan American Silver Corp., including key highlights such as its position as having the largest silver reserves globally at 550 million ounces, a diversified portfolio of 9 mining operations in the Americas, and three large catalysts for growth including the Escobal, La Colorada, and Navidad projects. It also discusses Pan American's strong financial position and focus on high-margin, low-cost production, as well as its 27-year track record of responsible and sustainable operations in Latin America through environmental, social, and governance initiatives. Production and cost guidance for 2021 is also provided.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of 4 drillships and 23 jack-ups deployed globally. Rowan has over 70 years of offshore drilling experience and its business is 100% dedicated to offshore drilling. It has approximately 2,300 employees worldwide. Rowan is well positioned to navigate the current challenging market through its partnership with Saudi Aramco, quality assets focused on demanding drilling, and sustainable capital structure.
ARO Drilling is a 50/50 joint venture between Rowan Companies and Saudi Aramco that owns and operates jack-up drilling rigs in Saudi Arabia. Over the next decade, ARO is expected to construct 20 new rigs supported by long-term contracts. ARO operates independently with dedicated management and its financial results impact Rowan through equity income. The venture provides visible earnings growth for Rowan through contributions, management fees, leases, and construction of new rigs over 15+ years.
Rowan is a leading offshore drilling contractor that provides rigs for deepwater and harsh environment drilling services. It has a modern fleet of high-specification jackup rigs and deepwater drillships. Rowan recently formed a joint venture with Saudi Aramco, called ARO Drilling, to own and operate jackup rigs in Saudi Arabia over the long term. This partnership creates a new growth opportunity for Rowan and ensures work for several of its rigs. Rowan also has a strong financial position with low debt and available credit to enable it to invest through the market cycle.
Rowan provides safe, reliable and efficient drilling services. It has a modern fleet of high-specification offshore rigs strategically positioned globally. A key partnership with Saudi Aramco ensures long-term growth for Rowan and involves contributions of rigs and operations to form a new joint venture company. Rowan is well positioned in the current market and focused on capitalizing on its competitive differentiation in demanding wells through its experienced workforce and modern fleet.
Rowan Strong is a leading offshore drilling company. It provides concise summaries in 3 sentences or less that provide the high level and essential information from the document. The document discusses Rowan's business overview, investment highlights, market dynamics, and shareholder value. Key points include that Rowan has a modern high-specification fleet, a strategic partnership with Saudi Aramco, and is well-positioned in key offshore drilling markets. The offshore drilling market is showing signs of improvement as costs decrease and projects deferred in the downturn may be restarted. Rowan aims to deliver value to shareholders by capitalizing on opportunities as the market recovers.
Rowan Strong: Safe. Reliable. Efficient.
The document discusses Rowan Companies, an offshore drilling company. It provides an overview of the company, highlighting that Rowan has evolved into a pure play offshore driller with a modern, high-specification fleet of 31 drilling units including 4 drillships and 27 jack-ups. It also notes that Rowan is well positioned to navigate the current challenging market and capitalize on investments. The document discusses Rowan's competitive positioning, global fleet, strong financial position, and backlog. It provides analysis of improving market fundamentals and expectations for 2017 capital spending. Break-even levels for deepwater projects are noted to have become competitive with other options. Specifications of
Rowan Strong is an offshore drilling company presenting to investors. The presentation discusses the company's competitive advantages including its modern high-specification fleet that is well-positioned for demanding drilling projects. It also highlights Rowan's strong financial position with little debt coming due over the next five years, allowing it to focus on positioning for an industry recovery. The offshore drilling market is showing signs of improvement as break-even costs for deepwater projects have decreased and supply attrition is expected to reduce older, less competitive rigs rolling off contracts in 2017.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and $0.8 billion in debt maturities through 2021. Rowan is well positioned in key offshore drilling markets with its fleet of 19 high-specification jack-ups and 4 best-in-class drillships. The company aims to deliver shareholder value by focusing on strong financial returns, highest customer satisfaction, and being the best place to work.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and only $755 million in debt maturities through 2021. Rowan is well positioned to navigate the current challenging market due to its focus on high-specification assets, solid customer relationships, and flexible financial profile. The company aims to deliver shareholder value by focusing on strong financial returns, efficient operations, and maximizing the earnings power of its fleet.
Rowan provided an investor presentation on May 9, 2016. The presentation included forward-looking statements noting various risk factors that could cause actual results to differ from expectations. It provided an overview of Rowan, highlighting its modern high-specification offshore drilling fleet, $3.1 billion backlog extending to 2024 with a diverse customer base, and strong financial position. The presentation also discussed market dynamics favoring more capable rigs, and Rowan's priorities to deliver shareholder value by focusing on returns, margins, and fleet earnings power.
Rowan has positioned itself as a pure play offshore driller focused on demanding wells. It has a modern, high-specification fleet of 31 rigs that are well positioned in key markets. Rowan has a backlog of $3.2 billion that extends to 2024 and is diversified among customers, regions, and asset types. The company has a strong financial position with no newbuild capex commitments and only $798 million in debt maturities through 2021.
Rdc investor presentation -- march 07 2016RowanCompanies
Rowan provided an investor presentation outlining the company's position and outlook. Key points included:
1) Rowan has evolved into a pure play offshore driller with a modern, high-specification fleet of 31 rigs that is strategically positioned globally.
2) The company has a strong financial position with $3.6 billion in backlog extending to 2024 and no newbuild capex commitments through 2021.
3) More capable rigs like Rowan's high-specification fleet are likely to work through the market downturn due to customer demand for drilling challenging wells.
Rdc investor presentation -- march 04 2016 - finalRowanCompanies
Rowan provided an investor presentation outlining the company's position and outlook. Key points include:
1) Rowan has evolved into a pure play offshore driller with a modern, high-specification fleet of 31 rigs that is strategically positioned globally.
2) The company has a strong financial position with $3.6 billion in backlog extending to 2024 and no newbuild capex commitments.
3) More capable rigs like Rowan's high-specification fleet are likely to work through the market downturn due to customer demand for drilling challenging wells.
Rdc investor presentation -- february 02 2016 - finalRowanCompanies
Rowan has positioned itself as a pure play offshore driller with a fleet of high-specification rigs. It has a strong financial position with an investment grade credit rating and limited newbuild commitments or debt maturities through 2018. The company's fleet includes 27 jack-ups, 19 of which are considered high-specification, as well as 4 drillships. This fleet is strategically positioned globally and has over $3.6 billion in backlog extending into 2024 with a diverse customer base. More capable rigs like Rowan's high-specification assets are expected to work through the current industry downturn better than lower tier assets.
Rdc investor presentation -- january 2016 - for rdc websiteRowanCompanies
Rowan provided an investor presentation covering the company's strategic positioning and outlook. Key points include:
1) Rowan has evolved into a pure play offshore driller with a high-specification fleet of 31 rigs that is well positioned in key markets.
2) The company has a solid $3.6 billion contract backlog diversified among premium customers, regions, and asset types extending out to 2024.
3) Rowan aims to deliver shareholder value through operational efficiency, cost control, optimal capital allocation, and maintaining the highest customer satisfaction and being the best place to work.
Rdc investor presentation -- december 2015RowanCompanies
Rowan is well positioned in the current challenging offshore drilling market due to its high-specification fleet and strong financial position. The company has a diversified backlog of $4.1 billion that extends to 2024, with over 80% from national oil companies or investment grade customers. Rowan has no newbuild capex commitments or debt maturities through 2017. Its high-specification jack-ups and best-in-class drillships are expected to outperform through the market cycle due to customer demand for more capable rigs.
Rdc investor presentation -- november 2015RowanCompanies
Rowan provides an investor presentation highlighting the company's positioning in the challenging offshore drilling market. The presentation notes that Rowan has evolved into a pure play high-specification offshore driller with a strong financial position. Rowan's fleet of 32 offshore drilling units, including 19 high-specification jack-ups and 4 ultra-deepwater drillships, is well positioned to work through the current market cycle due to the increasing customer demand for more capable rigs. The presentation also outlines Rowan's solid contract backlog, experienced workforce, and competitive advantages compared to peers.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
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Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
2. Forward‐Looking Statements
Statements herein that are not historical facts are forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the
expectations, beliefs and future expected business, financial and operating performance and prospects of
the Company and our joint venture with Saudi Aramco. These forward‐looking statements are based on
our current expectations and are subject to numerous risks, assumptions, trends and uncertainties that
could cause actual results to differ materially from those indicated by the forward‐looking statements.
Among the factors that could cause actual results to differ materially include: oil and natural gas prices
and the impact of the economic climate; changes in the offshore drilling market, including fluctuations in
supply and demand; variable levels of drilling activity and expenditures in the energy industry; changes in
day rates; ability to secure future drilling contracts; cancellation, early termination or renegotiation by our
customers of drilling contracts; customer credit and risk of customer bankruptcy; risks associated with
fixed cost drilling operations; unplanned downtime; risks related to our joint venture with Saudi Aramco;
cost overruns or delays in transportation of drilling units; cost overruns or delays in maintenance, upgrade,
repairs, or other rig projects; operating hazards and equipment failure; risks of collision and damage;
casualty losses and limitations on insurance coverage; weather conditions in the Company's operating
areas; increasing costs of compliance with regulations; changes in tax laws and interpretations by taxing
authorities; hostilities, terrorism, and piracy in our areas of operations that may result in loss or seizure of
assets or interruption of operations; impairments; a cyber incident which impairs our ability to conduct
operations; the outcome of disputes, including tax disputes and legal proceedings; and other risks
disclosed in the Company's filings with the U.S. Securities and Exchange Commission.
Each forward‐looking statement speaks only as of the date hereof, and the Company expressly disclaims
any obligation to update or revise any forward‐looking statements, except as required by law.
2
4. Visible Growth
Through ARO Drilling
Quality Assets
and Focus on
Demanding Drilling
Sustainable Capital
Structure
Groundbreaking
partnership with
Saudi Aramco
Visible earnings
growth over the next
15+ years
Competitively
positioned with the
largest global user of
jack‐up rigs
Top‐tier, well‐maintained
ultra‐deepwater drillship
fleet with strong
operational track‐record
Modern, high‐
specification jack‐up
fleet strategically
positioned in key global
markets
Experienced and proven
workforce; strong
processes focused on
performance
Solid liquidity profile
Cash‐on‐hand covers
all maturities through
2023
Recently extended
credit facility adds over
two additional years of
visible runway
Borrowing capacity of
almost $1.3 billion
from undrawn credit
facility
Well Positioned for
Market Recovery
“Break even” costs
coming down creating
opportunities for more
offshore drilling
Jack‐up market has
begun to show early
signs of improvement
7th generation ultra‐
deepwater (UDW)
drillships expected to
return to work earlier
in recovery
Rowan is well positioned to navigate the current market
4
12. 12
Jack-upsJack-ups
DrillshipsDrillships
• We expect broad, but modest, demand recovery in 2018 and
beyond
• Harsh environment demand is expected to continue to lead the
recovery
• Dayrate improvement is expected in selective pockets, where
supply/demand balance is more favorable
• UDW drillship demand slowly improving in 2018 and is
expected to continue into 2019 and beyond
• Tendering activity has risen throughout 2018; a number of
opportunities with late 2018 and 2019 commencements
• As industry utilization improves, we expect UDW drillship
dayrates to follow
Activity levels appear to be showing signs of improvement,
although dayrates may lag until general overcapacity abates
• We believe that improvement in Brent oil prices since late 2017
sets a positive tone for future capital spending by customers
• Break‐even economics for offshore continue to improve
• We expect additional rig attrition that will lead to further
improvement in supply/demand balance
MarketMarket
17. 17
Rowan has the highest percentage of UDW fleet with key
features required for today’s demanding market1
7th Generation rigs2 are clearly
differentiated from earlier
generation rigs.
Rowan’s drillships are exclusively
best‐in‐class 7th Generation units
uniquely positioned to offer the
key features desired by the market.
1,250+ ton
Load Path
1. Includes data supplied by IHS-Petrodata, Inc; Copyright 2018; Rowan estimates, excludes harsh environment semi-submersibles and cold-stacked rigs that are 5th
generation or less; as of August 3, 2018.
2. 7th Generation is defined as rigs equipped with 1,250 ton or greater load paths.
3. Rigs equipped with cylinder rigs are considered compliant with this feature.
Dual BOPs
7‐Ram BOP(s)
MPD‐Ready
Equipped for
12,000 ft Water
Depth
Total Fleet
Active Heave
Drawworks & Crown
Compensation3
Active Heave
Compensating
Subsea Crane
160
66
55
48
69
14
31
54
Total
Key features frequently required by customers
41%
34%
30%
43%
9%
19%
34%
% of Global
Fleet
100%
100%
100%
100%
100%
75%
100%
% of Rowan
Fleet
Number of global UDW rigs with each key feature
Percent of global UDW with each key feature
Percent Rowan UDW with each key feature
Best‐in‐class specifications typically
exclusive to 7th Generation rigs
18. Unlike most of its competitors, Rowan’s UDW fleet is only 7th
generation rigs
7
5 5
4 4 4
5
RIG ESV SDRL1 NERDC Other2DO
20%23% 100% 31% 24% 12%
Breakdown of 34 floaters with 1,250‐ton, dual BOP
Note: 1,250‐ton is defined as derrick, drawworks, and top drive are all rated at or in excess of 1,250 tons. Excludes rigs under construction. Percentages reflect the number
of 7th generation drillships relative to each company’s overall floater fleet.
1 Includes NADL, Seadrill Partners, and Sevan Drilling
2 Includes Fred Olsen, Maersk Drilling, Ocean Rig, Pacific Drilling, QGOG, and Bluewhale
Source: IHS‐Petrodata and Rowan estimates, as of August 3, 2018
17%
21. • Strong balance sheet allows counter‐cyclical investment to improve return on capital
• Recently extended credit facility provides two years to additional visible runway, with at
least $955 million of borrowing capacity thru mid‐2023
• Attractive debt maturity profile with significant undrawn borrowing capacity, currently at
almost $1.3 billion from revolving credit facilities*
• Cash balance of over $1.1 billion at June 30, 2018
• At June 30, 2018, ~$780 million of debt retired since 4Q 2015, while issuing $500 million of
unsecured debt not due until 2025
21
Our solid balance sheet and highly visible runway
bolster our financial health through the cycle
21
$1,133
$201
$624
$396 $498
$395 $396
$1,266
$60
$150.7
$100
$955
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
Current
Liquidity
2018 2019 2020 2021 2022 2023 2024 2025 // 2042 2043 2044
Revolver Reduction
Current Revolver Undrawn
Current Bond Debt
Current Cash Balance
*As of June 30, 2018; current availability under the facility is $1.266 billion, declining to $955 million by January 2021 and expires
in May 2023. All debt is unsecured.
$2,399
USD Millions
7.875% 4.875% 4.750% 7.375% 5.400% 5.850%
//
27. Few rigs possess the specifications required for
today’s demanding market requirements
1,250 ton
Hookload
Dual BOPs
7‐Ram BOP(s)
MPD‐Ready
Equipped for
12,000 ft Water
Depth
Total Fleet
Active Heave
Drawworks & Crown
Compensation
Active Heave
Compensating
Subsea Crane
Key Feature Description
Today’s deeper, more highly pressured wells require longer and heavier casing strings. Combined,
these driving forces yield casing strings that exceed the capacity of 6th generation rigs (i.e., greater
than 1,000 tons). Further, running BOPs in elevated sea states can also produce hook load
requirements exceeding 1,000 tons.
Between well maintenance becomes an offline activity with dual BOPs, saving several days of non‐
productive time. Further, if there is an unplanned BOP pull, the secondary BOP can be run while
repairs are performed on the other in an unrushed manner. This limits downtime to several days,
instead of several weeks or, in severe cases, months.
Having a seventh ram allows the installation of an “inverted” ram at the bottom of the BOP to
pressure up against when testing the other rams. This eliminates the need to run a separate pressure
testing apparatus down to the BOP. For exploration wells, this dramatically reduced the non‐
productive time spent testing the BOP while it is subsea. Alternatively, the seventh ram can also be
configured for optimized changeover from drilling to completion operations.
Many wells require very precise pressure control that can only be achieved by the closed loop
system that Managed Pressure Drilling provides. Further, this closed loop system also provided
dramatically increased safety by providing advanced “kick” detection, identifying well control issues
long before they become a threat to the rig, it’s crew or the environment. Rowan rigs were designed
for MPD from the beginning, with utilities and handling equipment neatly incorporated, translating
into expedient installation and higher reliability than the retrofit solutions in many competitive rigs.
Several of today’s frontier drilling locations are in water depths exceeding 12,000 feet. To access
these depths in a safe and efficient manner, significant outfitting upgrades are necessary. Many of
these upgrades are difficult or prohibitively expensive to incorporate after a rig has been
constructed. Rowan’s rigs are fully equipped for these extreme depths.
Active heave drawworks allows very precise high capacity control over suspended loads while the
vessel heaves up and down in response to sea conditions. This is especially critical while setting
casing in the well or setting the BOP on the well head. Having a secondary crown‐mounted
compensation system allows enhanced safety during operations where the rig is “locked” to bottom
such as completions, drill stem tests, and coiled tubing operations.
High capacity subsea cranes that have active heave compensation allow the offline installation of
subsea architecture (e.g., subsea trees) in a very precise manner, preventing damage to critical
subsea components. Using a crane to do this frees up the drilling centers to continue progressing
the construction of the well and can eliminate the cost of hiring a subsea construction vessel.
160
66
55
48
69
14
31
54
41%
34%
30%
42%
9%
18%
34%
Number of global UDW rigs with each key feature
Percent of global UDW with each key feature
Total % of Global
Fleet
Key features frequently required by customers
100%
100%
100%
100%
100%
75%
100%
% of RDC
Fleet
Percent Rowan UDW with each key feature
27Please reference slide 17 for corresponding footnotes
28. 28
Rowan Cost & CAPEX Estimates as of August 1, 2018
Key Metrics:
FY 2017
Actual
2Q 2018
Actual
3Q 2018
Projected
FY 2018
Projected
Jack-up Operational
Downtime
(unbillable)
1.3% 2.1% ~2% ~2%
Drillship Operational
Downtime
0.0% 0.0% ~5% ~5%
Transition Services Revenue $7.4MM $9MM $9MM >$30MM
Contract Drilling Expenses
(excluding rebills)
$661MM $164MM $160 ‐ $170MM(1) (2) $600 ‐ $620MM (1) (2)
SG&A $105MM $25MM Mid $20sMM $95 ‐ $100MM (2)
Depreciation $404MM $97MM $100MM $380 ‐ $390MM
Interest Expense,
Net of Capitalized Interest
$156MM $39MM $39MM $157MM
Interest Income from
ARO Drilling
$2.3MM $2.8MM Not Guided ~$10MM
Income Tax Expense(4)
Income Tax
Expense
$27MM
Income Tax
Benefit
$4MM
Not Guided
Income Tax Expense
Low – Mid $10sMM
Capital Expenditures $101MM $42MM(3) Not Guided $190MM ‐ $200MM(3)
(1) Includes management fees that will be paid to ARO Drilling
(2) Includes costs associated with transition services
(3) Excluding acquisition capex
(4) Cash taxes for 2018 is expected to be in the mid-$30MM range
32. 32
Intent is for ARO to be self funded with additional
distributions as excess cash builds
2017 2018 2019 2020 2021 2022 2023
NEAR‐TERM: Cash back to
Saudi Aramco / Rowan
MID‐TERM: Cash stays in ARO to
support the newbuild program
LONG‐TERM: Cash distributions
back to Saudi Aramco / Rowan
• Saudi Aramco and Rowan do not anticipate contributing additional capital into ARO
for the newbuild program, however the program is supported by a $1.25 billion
capital commitment from each shareholder, which ratchets down over time as rigs
are delivered
• We expect the newbuilds to be fully financed by ARO, through ARO‐generated cash
flow and external financing, supported by long term contracts at ARO
• ARO intends to keep cash on hand that is necessary for each calendar year of
operations. Additional cash will be distributed equally to Saudi Aramco and Rowan
2024 2025…
Expected Cash Management
36. 36
Contributed Rigs: Income and Cash Flow ImpactA
Revenue
‐ OPEX
EBITDA
Interest Expense
(from Shareholder Loans)
‐ CAPEX
Interest Income
(from Shareholder Loan)
• Contributed rig results will be recorded directly on ARO’s income statement with the only impact to
Rowan coming through the equity income line
• Transfer of Rowan’s KSA shorebase resulted in a reduction to Rowan’s operating costs as they are now
borne by ARO
• ARO is responsible for capital expenditures
• ARO will pay interest expense on the Shareholder Loan balance. Rowan to receive an interest
payment on its Shareholder Loan and record it as interest income
(See Note A)
Note A: Contributed rigs will impact ARO net earnings, 50% of which flow through Equity Income in Unconsolidated Subsidiaries on Rowan’s
income statement
38. 38
Leased Rigs: Overview and Financial Impact
• Once a managed rig rolls off contract, if not contributed, Rowan has the choice to market the rig
globally. If the rig subsequently receives a contract from Saudi Aramco, it will be leased to ARO(1)
• Dayrates for the leased rigs will be “consistent with the Pricing Mechanism, unless otherwise agreed”
• Rowan will receive a percentage of rig EBITDA (after an overhead allocation), which will be recognized
as bareboat charter revenue on Rowan’s income statement
• Five‐year special surveys are paid by Rowan
• Rig revenue and OPEX to be recorded on ARO’s income statement
• Maintenance CAPEX paid by ARO
C
Revenue
‐ OPEX
‐ Overhead Allocation (2)
EBITDA
‐ Maintenance CAPEX
Revenue (bareboat rate)
‐ Special Surveys
(1) If mutually agreed by Rowan and ARO
(2) Allocation of overhead costs for a leased rig is based on the rig’s proportion of overall revenue of rigs operated by ARO
Note A: Leased rigs will impact ARO net earnings, 50% of which flow through Equity Income in Unconsolidated Subsidiaries on Rowan’s
income statement
(See Note A)
40. 40
Newbuild Program: Overview and Financial Impact
• ARO expected to build up to 20 jack‐ups over the next decade with the earliest delivery of the first rig in 2021
• The newbuild jack‐ups will be built at the new Maritime Yard ‐ The King Salman International Complex for
Maritime Industries and Services, a cornerstone project in the Saudi 2030 Vision. The Maritime Yard is a joint
venture between Saudi Aramco, Bahri, Hyundai Heavy Industries and Lamprell
• Newbuild design process is in progress, which aims to develop the most safe, efficient and reliable jack‐up,
fit‐for‐purpose for Saudi Aramco operations
• The initial eight‐year contract has a dayrate set by an EBITDA payback model
Dayrate = (Cost of newbuild / undisclosed days) + daily OPEX + overhead allocation + modest cost escalation
• The following eight years of guaranteed contracts have dayrates set by the Pricing Mechanism, which is a
global index of similar rigs (excluding Norway and any other niche harsh environment markets) with a modest
discount to market, and a floor that provides a minimum level of profitability
• Thereafter, as long as the rigs can meet the technical specifications and the operational requirements of
Saudi Aramco, preference for new Saudi Aramco drilling contracts will be given to these rigs
E
Revenue
‐ OPEX
EBITDA
‐ CAPEX
N/A
Note A: Newbuild rigs will impact ARO net earnings, 50% of which flow through Equity Income in Unconsolidated Subsidiaries on Rowan’s
income statement
(See Note A)
41. 41
In Summary: Rowan and ARO Financials
(1) KSA Shorebase costs previously borne by Rowan will now be paid by ARO
Revenue
Managed Rigs
Leased Rigs Bareboat Fee
Transition Services Fee
Contributed Rigs
Management Fee
Leased Rigs
Newbuilds
OPEX
Managed Rigs
Management Fee
[Interest Income on Shareholder Loan]
Contributed Rigs
Leased Rigs
KSA Shorebase(1)
Transition Services Fee
Newbuilds
Interest Expense on Shareholder Loan
50% of ARO net earnings flow through Equity Income in Unconsolidated Subsidiaries on Rowan’s income statement
CAPEX
Managed Rigs
Leased Rigs Special Survey
Contributed Rigs
Leased Rigs Maintenance Capex
Newbuilds