GOLDMAN SACHS GLOBAL ENERGY CONFERENCE 2014 January 9th, 2014
Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE(1): 950 MILLION MARKET CAPITALIZATION(2): 482 MILLION ENTERPRISE VALUE(2): 1.0 BILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING…
Diversified Services % of TTM REVENUE(1) DRILLING SERVICES Drilling Services - US 54 Rigs Drilling Services Colombia 8 Rigs Total Drilling 62 Rigs Drilling - US Production 44% Services 44% PRODUCTION SERVICES Well Servicing…
Recent Updates Consolidated We expect fourth quarter results to be at the more favorable end of guidance. Total debt was reduced 35MM in the fourth quarter resulting in total debt reduction of 60MM since June. Current revolver balance…
Investment Considerations Summary Mix of service lines provides exposure to the full well life cycle including drilling, completions, workovers, and on-going well maintenance Approximately 60% of US revenue(1) attributable to the…
Exposure to the Full Well Life Cycle Drilling Toe Prep Plug and Perforate 7 Drill Out Plugs Complete and Maintenance until Install Artificial Lift Plug and Abandon
Leverage to Premier Unconventional Plays % of TTM Revenue(1) Pioneer Fleet Exposure 18% BAKKEN SHALE 15% 11 13% Drilling Production RIGS 18 Services Services 14 UNITS 52% 48% RIGS 0% Drilling Well Servicing Wireline…
Top-tier Safety Among the 15 largest land contract drillers in the United States, Pioneer Energy Services was the safest in 2011, and 2nd safest in 2012 as reported through the IADC In Division IV of the Association of Energy Service…
Cash Flow Generation and Debt Reduction 120 From June 2013 through December 2013, borrowings on the revolver 100 95 99 97 were reduced by 60MM 80 70 73 71 Additional debt reduction is expected 63 64 throughout 2014 (…
Future Growth Opportunities (post de-levering) Focus is on providing four core services in the significant unconventional plays in the U.S. CURRENT SERVICES BY PLAY Drilling Wireline Well Servicing Coiled Tubing Bakken Eagle…
PRODUCTION SERVICES 12
Well Servicing SERVICE OVERVIEW OPERATING LOCATIONS Of the top-tier well servicing providers, Pioneer has the: Highest utilization rate Highest average hourly rate Highest average horsepower fleet with all rigs either 550HP or…
Wireline SERVICE OVERVIEW OPERATING LOCATIONS Leading market share position in a number of key geographic markets Majority of revenue derived from cased-hole operations that include perforating, logging, and pipe recovery…
Coiled Tubing SERVICE OVERVIEW OPERATING LOCATIONS Significant player in the offshore coiled tubing market Fleet currently provides an array of services with coil capabilities ranging from 1 1/4 to 2 3/8 coiled tubing…
DRILLING SERVICES 16
Drilling Services SERVICE OVERVIEW OPERATING LOCATIONS Over 80% of US drilling revenue(1) is generated in the Bakken, Eagle Ford, and West Texas 74%(2) of rigs are capable of drilling horizontally in the unconventional plays…
Pioneer Drilling Rig Class Comparison Vertical Horizontal Top Drive Mechanical/Electric Electric Mechanical Number of Rigs 16 9 37 % of Fleet 26% 15% 60% AC/SCR 0/2 0/0 11/26 Drawworks 750-1,200HP 1,000-1,300HP 1,000-2,000HP…
Liquidity and Capital Structure September 30th, 2013 ( millions) Actual Cash 17.1 Senior Secured Revolving Credit Facility due 2016 115.0 Senior Unsecured Notes due 2018(1) 419.3 Other 0.1 Total Debt 534.4 Shareholders' Equity 518.9…
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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