Overview Ticker Symbol: PDC Market Cap: 562.1 million (March 6, 2012) Stock price: 9.14 (March 6, 2012) Average 3-month daily 799,877 shares trading volume: Public float: Approximately 61.5 million shares Employees: 3,300…
Pioneer Drilling Company 93 Well Service Rigs operating in 12 Locations Approximately 7th largest well service provider 109 Wireline Units in 23 Locations 92 cased hole 17 open hole 10 Coiled Tubing Units in 5 Locations 7…
Leading Service Provider Across Well Life Cycle Diversified Business and Geography Mix TTM Dec 31, 2011 Drilling Services 39% 61% Production Services Total Revenue: 716 million Drilling Services Colombia 45% 55%…
Investment Considerations Majority of assets targeting oil-driven opportunities Approximately 87% of our working drilling rigs and 79% of our production services assets are operating on wells that are targeting or producing oil and…
Well Services Provides a wide range of well services to exploration and production companies Existing well maintenance Workover of existing wells Completion of newly-drilled wells Plugging and abandonment of wells at the end of…
Well Services Fleet Overview Well Service Locations Capable of working at depths of 20,000 Williston Approximately 73% of the fleet working on oil and liquid-rich wells Greenbrier Snyder Longview Laurel Palestine…
Wireline Fleet Overview Wireline Locations Majority of revenue derived from cased-hole operations that include Cut Bank Havre Williston perforating, logging, and pipe Billings Dickinson recovery Roosevelt Casper Ft. Morgan…
Coiled Tubing Provides a broad range of production and completion services Completion applications include frac plug drillouts, tubing conveyed perforating (TCP) and well cleanouts All ten units were placed into service between…
Coiled Tubing Fleet Profile Coiled Tubing Locations Standardized, new equipment (7 onshore units, 3 offshore units) Servicing wells up to a total depth of 19,000 with 2 coil Danville Weatherford Six units utilize…
Drilling Services 12
High Quality Drilling Fleet, Focused on Unconventional Plays Historical Fleet Growth Current Rig Fleet Mix 70 71 71 66 64 (1) 61 1,500-2,000 550-999 52 HP HP Electric 40 22% 20% 45% 55% 58% 2004 2005 2006 2007 2008 2009…
Strong Utilization Through the Cycles Averaged approximately 81% utilization through cycles since 2001, comparing favorably to peers Current utilization of 88%(1) Comparable Utilization Rates 100% 80% 60% 40% 20% 0%…
Modern, Efficient Drilling Fleet 50 Series Rig 36 rigs with top drives (56% of fleet) 16 walking/skidding systems on rigs 36 pairs of 1,300/1,600 HP mud pumps 77% of rigs have iron roughnecks 45% of rigs are electric…
New-Build Features State-of-the-art 550K and 750K sub & mast AC new- builds Integrated 500 ton top drives in mast section for faster rig up and rig down Crane free rig up / rig down design 30 loads on base rig for fast moves…
New-Build Pad Drilling Capability Pin On Walking System Can walk in either direction or spin the rig Can walk with full set back of drill pipes in mast Amphion AC Control Systems Latest features in rig control software Climatized…
New-Build Advanced Electrical System Festoon System to Manage Electrical Supply to Substructure 18
Contribution by Segment Revenue Gross Margin 100% 100% 90% 90% 80% 80% 55% 55% 52% 70% 61% 58% 70% 68% 64% 66% % of Total Revenue 72% % of Total Margin 75% 60% 60% 50% 50% 40% 40% 30% 30% 45% 45% 48% 20% 39%…
Strong Liquidity and Capital Structure Capitalization (As of December 31, 2011) December 31, 2011 ( in millions) Actual Cash 86.2 Revolving Credit Facility 0.0 Sr. Unsecured Notes(1) 417.7 Other 1.9 Total Debt 419.6 Stockholders'…
Appendix 23
Resurgence in U.S. Land Rig Count Steady rig count improvement since the second half of 2009 Horizontal and oil rig counts have surpassed Fall 2008 peak levels Land Rig Count Horizontal & Oil Rig Count 2,200 5.0% 1,400…
Benefits of Growing Shale Plays Oilfield service companies stand to benefit from shale production due to its lower risk development and increased service intensity (up to 3 - 5x conventional) Shale gas is expected to make up 47% of…
Reconciliation of Adjusted EBITDA to Net Income We define Adjusted EBITDA as earnings (loss) before interest income (expense), taxes, depreciation, amortization, impairments, and the Colombian Net Equity Tax. Although not prescribed…
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