Pareto Oil & Offshore conference 2016 September 2016 Private - - PowerPoint PPT Presentation

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Pareto Oil & Offshore conference 2016 September 2016 Private - - PowerPoint PPT Presentation

May 09, 2023 365 likes •516 views

Pareto Oil & Offshore conference 2016 September 2016 Private & Confidential This is Magseis OSLO - BERGEN - STOCKHOLM OCEAN BOTTOM SEISMIC (OBS) PRODUCT DEVELOPMENT SINGAPORE - BRAZIL & MANUFACTURING Industry leading

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SLIDE 1

Pareto Oil & Offshore conference 2016

September 2016 Private & Confidential

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SLIDE 2

This is Magseis

OCEAN BOTTOM SEISMIC (OBS) PRODUCT DEVELOPMENT & MANUFACTURING OSLO - BERGEN - STOCKHOLM SINGAPORE - BRAZIL

  • Industry leading ocean bottom seismic company
  • Start of operations Oct 2013
  • One vessel in operations
  • 80 employees
  • Listed on Oslo Axess

Ticker Shares outstanding Market cap (NOKm) Equity Ratio – Q2 16 MSEIS 37,818,014 548 66.4%

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SLIDE 3 KEY F FIGURES S 1H

H 2016

016 Source: Magseis

25.8

REVENUE

0.0

EBITDA

  • 7.9

NET INCOME

16.9

CASH BALANCE

$ MILLION $ MILLION $ MILLION $ MILLION $ MILLION

7.7 25.8 0.0

  • 1.6
REVENUE

Q2 2016

REVENUE

YTD 2016

EBITDA

YTD 2016

EBITDA

Q2 2016

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SLIDE 4

Seismic acquisition

ONE core proprietary technology -> Multiple applications Miniaturised node sensors Handling system

Cable deployment ROV deployment

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SLIDE 5

Marine Autonomous Seismic System (MASS)

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SLIDE 6

Now established as a leading OBS provider

6 Source: Magseis (operating close to FPSO at Captain Field)

Qualified (2013):

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  • Technology well established
  • Have completed >600 sq.km. of high-end

OBS acquisition

  • More than 100 000 4-component sensor capsules

deployed

  • Building reputation for very high-quality data
  • Established as the lowest-cost supplier

in the industry

Qualified (2015/16): Ongoing (2016):

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SLIDE 7 Streamer data Source: Statoil OBS PS OBC area OBC area Top reservoir Albatross NW Streamer interpretation OBS interpretation

OBS data acquired by Magseis

OBS data on Albatross field

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SLIDE 8

Aramco Red Sea project

Operational highlights

  • Second survey in the Middle East
  • Complex survey design
  • Rolling spread across challenging seabed conditions
  • Record amount of cable in operation (350km)
  • Long-life node electronics introduced
  • Excellent cooperation with BGP and Aramco

Strategically important reference for further work world wide

8 Source: Magseis. Operating together with BGP in the Red Sea
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SLIDE 9

Current backlog

  • Ongoing: Saudi Aramco’s S-78 together with BGP
– 9 months duration – 12 months extension option
  • Strong market visibility and positive market view:
– Several jobs already awarded for 2017 start – Large tenders ongoing and in the pipeline for 2017/2018 start – Significant industry interest for OBS
  • Strong client interest for MASS technology
  • Positioned for growth across several platforms (deepwater, large spreads)
Source: Magseis Firm Lead Yard/transit 9
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SLIDE 10 Source: Magseis, Arkwright, Statoil

OBS Market returning to growth

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OBS market growth 2005 – 2018E

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016e 2017e 2018e 109 180 190 318 283 608 577 602 613 823 750 705 390 525 4,4 5,8 6,2 7,4 6,1 5,7 6,6 8,0 8,3 7,3 4,4 3,3 3,3 4,2 2 4 6 8 10 12 14 200 400 600 800 1000 1200

OBS market drivers:

IOR focus Increasing geological complexity Technology development Customer confidence & adoption Total Seismic market in BUSD OBS market (excluding low-end)
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SLIDE 11 Source: Magseis 11

100K

$ per.km²

20K

$

per.km²

Changing the way OBS acquisition is conducted

  • From multiple patch to rolling operations

2014 75km 2015 150km 2016 350km 2017 >600km

Cable length

Large spreads - rolling operations

Multiple patch deployment
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SLIDE 12 Source: Magseis 12

Enabling a step-change in OBS acquisition costs

82 135 35 55 40 18 PROJECT 1 PROJECT 2 PROJECT 3 DAYS IN OPERATION Athene Crew 2 Athene: 75km cable / 3,000 nodes / #3 patches Crew #2: 425 km cable / 6,000 nodes / rolling Athene: 150km cable / 3,000 nodes / #5 patches Crew #2: 325 km cable / 5,200 nodes / rolling Athene: 120km cable / 2,300 nodes / #2 patches Crew #2: 150km cable / 2,800 nodes / rolling
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SLIDE 13

Summary and outlook

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  • Well underway in the Red Sea
  • Backlog visibility remains strong; 9 – 21 months
  • Financial position strengthened for 2016-2017
  • Positive market view supported by contract awards for 2017
  • Growth strategy remains unchanged
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SLIDE 14

At the forefront of seabed seismic technology

Q & A

Magseis ASA