Investor Relations Presentation April 30, 2013

Transcription

1 Investor Relations Presentation April 30, 2013

2 FORWARD LOOKING STATEMENTS In addition to the historical data contained herein, this document may include forward-looking statements regarding the future revenues, earnings and orders of the Company, made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of The Company s actual results may differ materially from those described in forward-looking statements. Such statements are based on current expectations of the Company s performance and are subject to a variety of factors, some of which are not under the control of the Company, which can affect the Company s results of operations, liquidity or financial condition. Such factors may include the ultimate outcome of claims that have been made against the Company arising out of or related to the Deepwater Horizon matter; the overall demand for, and pricing of, the Company s products; the size and timing of orders; the Company s ability to successfully execute the large subsea and drilling systems projects it has been awarded; the Company s ability to convert backlog into revenues on a timely and profitable basis; the impact of acquisitions the Company has made or may make; changes in the price of (and demand for) oil and gas in both domestic and international markets; raw material costs and availability; political and social issues affecting the countries in which the Company does business, including the ongoing effects of a temporary moratorium imposed by the United States government on drilling activities in deepwater areas of the Gulf of Mexico, which has since been lifted; fluctuations in currency markets worldwide; and variations in global economic activity. In general, current and projected oil and gas prices historically have directly affected customers spending levels and their related purchases of the Company s products and services. Additionally, changes in oil and gas price expectations may impact the Company s financial results due to changes it may make in its cost structure, staffing or spending levels. Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company s future performance. Additionally, the Company is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations. Reconciliation of non-gaap financial measures included herein to GAAP financial measures are available in the Company s reports as filed with the Securities and Exchange Commission, or on the Company s website at

3 WHY CAMERON?? Number-one or number-two player in most every business Leading aftermarket/service provider Diverse products leverage to both onshore and deepwater Strong backlog provides visibility Transformational activities in surface, drilling and subsea businesses

4 CAMERON S BROAD MARKET COVERAGE Cameron is in nine market segments, offering a full suite of products and services to the drilling, production, processing, refining, petrochemical and LNG, transmission and storage and industrial segments of the industry.

5 DISCOVER SUBSEA SYSTEMS

6 SUBSEA SYSTEMS SUBSEA TREES BOP STACKS MANIFOLDS SUBSEA CONTROLS PROCESSING VALVES CONNECTORS MEASUREMENT

7 ONESUBSEA A TRANSFORMATIONAL JOINT VENTURE THAT COMBINES THE OFFERINGS, EXPERIENCE AND EXPERTISE OF CAMERON AND SCHLUMBERGER Leading provider of subsea production systems Leading oilfield services company A new entity majority owned by Cameron Leading provider of subsea measurement, boosting and process systems 7 FLOW EQUIPMENT LEADERSHIP

8 WHAT ONESUBSEA WILL OFFER CUSTOMERS Revolutionary customer value proposition combining the best of two industry leaders Pre-engineered systems optimizing life of field production performance with the flexibility to accommodate future changing needs Leading edge subsea production and processing systems matching the changing production and reservoir conditions over the life of the field Surveillance services confirming asset integrity of the installed system Cost-effective intervention services 8 FLOW EQUIPMENT LEADERSHIP

9 WHAT MAKES ONESUBSEA UNIQUE - True Differentiation in the Marketplace Comprehensive, reliable, in-house suite of subsea technologies, with unparalleled reservoir and production knowledge. A leading provider of production systems and life of field services. OneSubsea will combine Cameron flow control expertise, process technologies and world-class manufacturing and aftermarket capabilities along with Schlumberger s complementary petro-technical leadership, subsurface completions, artificial lift and subsea well intervention technologies. 9 FLOW EQUIPMENT LEADERSHIP

10 DISCOVER TOTAL RIG PACKAGE SOLUTIONS

11 STX DRILLSHIP PACKAGE Cameron Scope of Supply Hoisting and Rotating Equipment Tubular and Riser Handling Equipment Drill floor Equipment Integrated Control System Tensioning Equipment Cellar Deck Equipment Complete Drilling Fluid System Dual BOP and Riser Package High Pressure Manifold Control Systems, Hoisting, Rotating and Handling Equipment Cellar Deck, Tensioning, BOP and Riser Equipment Drilling Fluid System FLOW EQUIPMENT LEADERSHIP

12 OFFSHORE DRILLING TOP DRIVES PIPE HANDLING BOPS AND BOP HANDLING MUD SYSTEMS DRILLING CONTROLS MOTION COMPENSATION IRON ROUGHNECKS RISER SYSTEMS

13 DRILLING EQUIPMENT HISTORICAL MARKET SHARE Cameron s Historical Market Share of Offshore Rig Fleet ( ) Cameron 53% Cameron 50% Jackups (574) Semisubmersibles & Drillships (410) Source: ODS Petrodata

14 ONSHORE DRILLING RIG DESIGNS MANIFOLDS & DRILLING CHOKES BOPS ROTARY TABLES & DRAWWORKS RIG POWER SYSTEMS TOP DRIVES CONTROL SYSTEMS MUD PUMPS

15 DISCOVER CAMSHALE SERVICES

16 ONSHORE PRODUCTION CAMSHALE SERVICES FLOWBACK & WELL TESTING WELLHEAD SYSTEMS FLUID TREATING & PROCESSING TREES RECIPROCATING COMPRESSORS VALVES & MEASUREMENT AUTOMATION & CONTROL

17 OFFSHORE PRODUCTION HPHT & CRITICAL SERVICE VALVES SURFACE WELLHEAD SYSTEMS ACTUATORS CHOKES RECIPROCATING COMPRESSORS AUTOMATION & CONTROL MEASUREMENT

18 DISCOVER FLOATING PRODUCTION SYSTEMS

19 FLOATING PRODUCTION SYSTEMS PRODUCED WATER TREATING GAS TREATING SEAWATER TREATING MEASUREMENT SOLIDS TREATING VALVES & ACTUATORS OIL TREATING AUTOMATION & CONTROL

20 FPS MARKET OPPORTUNITIES Worldwide Award Forecast by FPS Type (Number of Units/Award Years) TLP FLNG Spar FPS-Semi FPSO Source: Quest Offshore Resources, Inc.

21 MIDSTREAM PIPELINES VALVES MEASUREMENT ACTUATORS RECIPROCATING COMPRESSORS AUTOMATION & CONTROL

22 LNG AND PETROCHEMICAL AUTOMATION & CONTROL MEASUREMENT ETHYLENE QUENCH TREATING CENTRIFUGAL COMPRESSORS GAS TREATING VALVES

23 REFINING RECIPROCATING COMPRESSORS AUTOMATION & CONTROL VALVES MEASUREMENT WASTE WATER TREATING OIL TREATING

24 VALVES & MEASUREMENT BUSINESS SEGMENT Revenues vs. Orders ($ Millions) Revenues Orders Rolling Q1 Rolling Four Quarter Totals Through Q113 Compound annual growth rates, : Revenues 15%; Orders 13%

25 DISCOVER CAMSERV SERVICES

26 CAMSERV SERVICES OEM Expertise Technology Leadership Global Accessibility Constantly Evolving

27 CAMSERV LOCATIONS

28 CAMERON S REVENUES New Equipment vs. Aftermarket ($ Millions) 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 New Equipment Aftermarket Rolling Q1 Rolling Four Quarter Totals Through Q Rolling Q1 aftermarket revenues: more than $ 2.0 billion (16% growth over last rolling four quarters)

29 DRILLING EQUIPMENT AFTERMARKET OPPORTUNITIES New safety and equipment requirements will drive additional opportunities including new BOP equipment, retrofit opportunities, upgrade and inspection of BOPs and BOP controls. Drilling Aftermarket Sales ($ Millions) $700 $600 $500 $400 $300 $200 $100 $0 Rolling Four Quarter Totals Through Q113 15% growth over last rolling four quarters

30 CAMERON S REVENUES VS. ORDERS ($ Millions) $12,000 $11,000 $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Revenues Orders Rolling Four Quarter Totals Through Q113 Compound annual growth rates, : Revenues 18%; Orders 16%

31 CAMERON S BACKLOG ($ Millions End of Q113) $12,000 $10,000 $8,000 $8,597 $10,037 $6,000 $4,000 $3,531 $4,268 $5,607 $5,190 $4,817 $5,969 $2,000 $ Backlog up more than 3.0 x 2006; provides revenue visibility

32 CAMERON S DRIVERS OF LONG-TERM ORDER GROWTH Midstream Subsea Development including OneSubsea Aftermarket Drivers of Long-Term Order Growth Greater Share of Rig Equipment Spend Unconventional Resources Valve Alliances