Archer Limited · OSL:ARCH
Archer — Seawell — Merger or Acquisition (August 2010)
11 slides from Archer's merger presentation, Aug 13, 2010
Slide 1: Seawell Ltd. acquires Allis-Chalmers Energy Inc.
Seawell Ltd. acquires Allis-Chalmers Energy Inc. International Drilling & Well Services Company Jorgen P. Rasmussen, Executive Chairman Seawell Limited Munawar H. Hidayatallah, Chairman and CEO, Allis-Chalmers Energy Inc 13 August, 2010
Slide 2: Disclaimer
Confidential Disclaimer Forward-Looking Statements •This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "will," "anticipate," "estimate," "ex
Slide 3: Our aim is to build a first class oil service company
Our aim is to build a first class oil service company • Our service segments would be: Drilling and well services, oilfield rentals and facility engineering • Focused on enhanced oil recovery for our clients • Global footprint to leverage and distribute key technologies • Significant presence in dri
Slide 4: Introduction to Allis-Chalmers Energy
Introduction to Allis-Chalmers Energy Description: Key figures1: 2009 revenues by geography • Provider of services and equipment to oil and natural gas exploration and production Other Intl. companies Brazil 44 30 6% 9% Argentina • Operations in US, Argentina, Brazil, Bolivia US 244 48 % and Mexico
Slide 5: Introduction to Seawell
Introduction to Seawell Description: Key figures1: • Leading oilfield service company operating on nearly 50 2009 revenues by geography 5 95 4 installations in the North Sea 1%% 1 %21% • Offices in Norway, UK, Denmark, US, Brazil, Nigeria, UK Singapore, India and joint ventures in Abu Dhabi and 148
Slide 6: Seawell backlog - Platform drilling, 2 BN USD
Seawell backlog - Platform drilling, 2 BN USD 2009 2010 2011 2012 2013 Unit Customer 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Statfjord A, B, C StatoilHydro 1 x 2 year Gullfaks A, B, C StatoilHydro 1 x 2 year Veslefrikk A, B StatoilHydro Life of field Ula & Valhall BP Gyda Talisma
Slide 7: The Well Company
The Well Company A combination would be: • 6 500 employees in 30+ countries • USD 1.3 billion in revenues in 2010, USD 195 million in EBITDA1 • Leading oil service company in the North Sea • Major onshore player in the Americas • 30+ years experience in drilling and servicing production wells for ou
Slide 8: Combined company would have a global footprint
Combined company would have a global footprint • Complimentary services in common geographies • Next step would be to develop full presence in Middle East and FEA • Use global footprint to distribute technologies as well as grow a unique service offering Page 8
Slide 9: Transaction details
Transaction details • Seawell Ltd. to acquire Allis-Chalmers Energy Inc. for a combination of shares and cash • Terms: • 1.15 Seawell shares offered for each Allis- Chalmers Energy share • Cash alternative at USD 4.25 per share, capped at maximum of 35% of outstanding shares in Allis-Chalmers Energy
Slide 10: Governance
Governance Proposed Board of Directors Executive Management • Saad Bargach, Chairman • Chief Executive Officer & President: • Tor Olav Trøim, Vice Chairman Jørgen Peter Rasmussen (51) • John Reynolds Danish • Alejandro P. Bulgheroni • Chief Operating Officer and EVP: • Gianni Dell'Orto Thorleif Egel
Slide 11: Why Seawell and Allis-Chalmers Energy make sense
Why Seawell and Allis-Chalmers Energy make sense • Highly complimentary • No product or services overlap • Similar business focus, very experienced drilling personnel • No geographical overlap • Significant cross selling synergies • Bring Allis-Chalmers Energy competence to the North Sea • Bring Sea