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SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · Mar 5, 2015 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 1
    Simmons & Company Energy Conference March 5th, 2015
  2. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 2
    Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE1: 1.1 BILLION MARKET CAPITALIZATION2: 340 MILLION ENTERPRISE VALUE2: 760 MILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING EMPLOYEES:…
  3. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 3
    Diversified Services % of TTM REVENUE1 PRODUCTION SERVICES Well Servicing 118 Rigs Wireline 128 Units Coiled Tubing 17 Units Drilling US 39% Production Services 51% DRILLING SERVICES2 Drilling Services US 29 Rigs…
  4. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 4
    Fleet Composition Adding nine well servicing rigs and eight wireline units in 2015 Delivering five, termcontracted newbuild drilling rigs in 2015 COILED TUBING WELL SERVICING 17 17 125 116 13 13 108 109 89 10 74 74 6…
  5. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 5
    Recent Updates Drilling Highgrading of US drilling fleet by disposing of 19 mechanical rigs and six 7501,000 horsepower electric rigs (seven of which are 60series rigs) by the end of the first quarter of 2015 By the end of February…
  6. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 6
    Investment Considerations Summary Exposure to the full well life cycle including drilling, completions, workovers and ongoing well maintenance Approximately 60% of US revenue1 attributable to three key U.S. markets: Bakken…
  7. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 7
    Exposure to the Full Well Life Cycle Drilling Toe Prep Plug and Perforate 8 Drill Out Plugs Complete and Maintenance until Install Artificial Lift Plug and Abandon
  8. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 8
    Leverage to Three Key U.S. Markets (Approximately 60% of TTM US Revenue) BAKKEN1 Drilling Production Services Services 49% 51% Production PERMIAN1 Services 14% Drilling Services 86% EAGLE FORD1 Drilling…
  9. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 9
    Leverage and Debt Maturities Restructured balance sheet in 2014 through multiple capital markets transactions Completed 300 million 6.125% Senior Notes offering Redeemed 425 million of 9.875% Senior Notes Extended and upsized…
  10. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 10
    IndustryLeading Safety For many years, Pioneer has been a leader in U.S. land drilling safety. Our commitment to industryleading safety helps us retain highquality employees, broaden our client base, and reduce operating costs.…
  11. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 11
    PRODUCTION SERVICES 12
  12. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 12
    Well Servicing SERVICE OVERVIEW OPERATING LOCATIONS Of the toptier well servicing providers, Pioneer has the: Highest utilization rate Highest average hourly rate Highest average horsepower fleet with all rigs either 550HP or…
  13. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 13
    Wireline SERVICE OVERVIEW OPERATING LOCATIONS Leading market share position in a number of key geographic markets Majority of revenue derived from casedhole operations that include perforating, logging, and pipe recovery…
  14. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 14
    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 1.25 to 2.375 coiled tubing…
  15. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 15
    DRILLING SERVICES 16
  16. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 16
    Drilling Services SERVICE OVERVIEW OPERATING LOCATIONS Over 70% of US drilling revenue1 is generated in the Bakken, Eagle Ford, and Permian 95%2 of rigs are capable of drilling horizontally in the unconventional plays Pioneer…
  17. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 17
    Pioneer Drilling Rig Class Comparison Mechanical Electric Number of Rigs1 4 33 % of Fleet 11% 89% AC/SCR 11/22 Drawworks 9001,300HP 1,0002,000HP Top Drive Up to 500 Ton AC 250500 Ton AC Mud Pumps 1,0001,600HP 1,3002,000HP…
  18. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 18
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  19. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 19
    Historical Financial Results REVENUE / ADJUSTED EBITDA ( millions) CAPEX SPEND ( millions) 1,125 400 1,055 364 1,000 960 350 919 875 300 750 716 250 625 210 200 487 175 500 165 150 131 375 326 115 277 249 235…
  20. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 20
    Liquidity and Capital Structure December 31st, 2014 ( millions) Actual Cash 34.9 Senior Secured Revolving Credit Facility due 2019 155.0 6.125% Senior Unsecured Notes due 2022 300.0 Other 0.1 Total Debt 455.1 Shareholders'…
  21. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 21
    Reconciliation of Adjusted EBITDA to Net Income We define Adjusted EBITDA as earnings (loss) before interest income (expense), taxes, depreciation, amortization, loss on extinguishment of debt, impairments, and the Colombian Net Equity…
  22. SIMMONS AND COMPANY ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 22
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