NASDAQ: FES INVESTOR PRESENTATION GLOBAL HUNTER SECURITIES GHS 100 5th ANNUAL INVESTOR CONFERENCE JUNE 24 - 25, 2014
FORWARD-LOOKING STATEMENTS This presentation may contain forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or…
WHAT WE DO Service drilling, completions and production aspects of well development Organized in two business segments Well Servicing Fluid Management Operating in major shale formations - Throughout Texas, including Eagle Ford,…
WELL SERVICING SEGMENT Services include completions, maintenance and remedial repairs, workovers, tubular testing and plugging and abandonment Represents 63% of revenue for Q1 2014 Well Service Rig SERVICE RIG FLEET 168…
COILED TUBING SERVICES HIGHLIGHTS Market entry in late 2012 Organic growth, newly built equipment Six* total spreads ranging in pipe size from 1 1/4 to 2 3/8 Services include well completions, maintenance and remedial Injector…
FLUID MANAGEMENT SEGMENT HIGHLIGHTS Transport, store, recycle and dispose of drilling, completion and production fluids Represents 37% of revenue for Q1 2014 Services include fluid hauling, disposal of waste water, rental of storage…
CUSTOMER PORTFOLIO MAJORS LARGE INDEPENDENTS OTHER INDEPENDENTS 7
OPERATIONAL BASE Approximately 90% of revenues generated from South Texas and West Texas 71% South Texas (majority Eagle Ford) 19% West Texas (Permian Basin) Majority of services are oil directed Indiana, PA * Operations…
UPWARD TREND CONTINUES IN FORBES PRIMARY MARKETS Texas Well Counts Trending Up Sources: Rail Road Commission of Texas, Rig Data 9
UPWARD TREND CONTINUES IN FORBES PRIMARY MARKETS 2014 development activity showing increase compared to 2013 5-months ending May 31 Texas U.S. 2014 (5 mos) 2014 (5 mos) Jan- May Y/Y % Chg Jan- May Y/Y % Chg Drilling Permits 11878…
SAFETY RECORD HIGHLIGHTS .53 TRIR 5-year average 75% better than the industry average Safety-minded crews provide industry-leading safety results New, well maintained equipment helps mitigate risks Rigorous and ongoing training and…
CAPEX OVERVIEW HISTORICAL CAPITAL SPEND 1 120.0 112.0 100.0 In millions 80.0 62.7 60.0 47.3 40.0 20.0 3.2 6.1 0.0 2010 2011 2012 2013 2014 (3 MOS) CAPEX ALLOCATION 2014 ACTUAL (3 MOS) 2013 Well Well Servicing…
FINANCIAL SUMMARY USD millions REVENUE Q1 2014 REVENUE BY REGION 140 132 125 East Texas, Mississippi, 116 119 6% 120 111 114 2% 107 109110 102104105 West Texas, Pennsylvania, 100 90 95 19% 2% 80 72 68 58 60 South Texas, 71%…
INVESTMENT BASIS Large inventory of new, modern service rigs Rig specifications designed for shale development Superior Fleet Continually adding high grade and newly manufactured equipment to the fleet Dominant position in Eagle…
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FORBES AT A GLANCE Corporate Headquarters Alice, TX Stock Price 52-Week Range (06-16-2014) 3.08 - 5.03 Shares Outstanding 21.7M Market Capitalization 85.0M Enterprise Value 372.5M Daily Volume (90-day average at 06-16-2014)…
LIQUIDITY CASH BALANCE 32.2 million unrestricted cash balance, as of May 8, 2014 1.4 million restricted cash balance SENIOR NOTES 280 million principal, 9% interest, due June 15, 2019 Senior notes unsecured, no principal payments…
CORPORATE STRUCTURE Common shares Forbes Energy Services LTD (publicly traded) Convertible preferred shares (unregistered) Forbes Energy Services LLC TX Energy Superior Tubing Forbes Energy Services LLC CC Forbes LLC…
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