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GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · Jun 25, 2014 · 20 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. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 1
    GHS 100 ENERGY CONFERENCE June 25th, 2014
  2. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 2
    Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE1: 970 MILLION MARKET CAPITALIZATION2: 1.0 BILLION ENTERPRISE VALUE2: 1.5 BILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING EMPLOYEES:…
  3. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 3
    Diversified Services % of TTM REVENUE1 PRODUCTION SERVICES Well Servicing 112 Rigs Wireline 121 Units Coiled Tubing 14 Units Drilling - US Production 42% Services 47% DRILLING SERVICES Drilling Services - US 54 Rigs…
  4. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 4
    Recent Updates Drilling Services Executed three new-build drilling rig contracts for delivery in the second quarter of 2015 Quarter-to-date utilization through May was 87%. Current utilization is 92%1. Colombia Seven of eight rigs…
  5. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 5
    Investment Considerations Summary Exposure to the full well life cycle including drilling, completions, workovers and on-going well maintenance Approximately 60% of US revenue1 attributable to three key U.S. markets: Bakken shale,…
  6. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 6
    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
  7. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 7
    Leverage to Three Key U.S. Markets (Approximately 60% of TTM US Revenue) BAKKEN1 Drilling Production Services Services 52% 48% Production PERMIAN1 Services 10% Drilling Services 90% EAGLE FORD1 Drilling Production…
  8. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 8
    Accretive Organic Growth Opportunities Adding nine well servicing rigs, three wireline units and three coiled tubing units in 2014 Executed three new-build drilling rig contracts for delivery in 2015 COILED TUBING WELL SERVICING…
  9. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 9
    PRODUCTION SERVICES 10
  10. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 10
    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…
  11. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 11
    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…
  12. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 12
    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…
  13. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 13
    DRILLING SERVICES 14
  14. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 14
    Drilling Services SERVICE OVERVIEW OPERATING LOCATIONS Over 70% of US drilling revenue1 is generated in the Bakken, Eagle Ford, and Permian 74%2 of rigs are capable of drilling horizontally in the unconventional plays Pioneer…
  15. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 15
    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…
  16. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 16
    17
  17. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 17
    Historical Financial Results REVENUE / ADJUSTED EBITDA ( millions) CAPEX SPEND ( millions) 1,125 400 364 1,000 960 956 919 350 875 300 750 716 250 625 210 200 487 500 165 150 131 375 326 115 249 235 253 100 250 191…
  18. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 18
    Liquidity and Capital Structure March 31st, 2014 As Adjusted for Senior Note ( millions) Actual Redemption Cash 20.8 20.8 Restricted Cash 210.4 0.0 Senior Secured Revolving Credit Facility due 2016 80.0 80.0 Senior Unsecured…
  19. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 19
    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…
  20. GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 20

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