Skip to main content SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. Investor Presentation | Shale Experts
Loading...
Pm

SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · Feb 27, 2014 · 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 & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 1
    SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE February 27th, 2014
  2. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 2
    Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE(1): 960 MILLION MARKET CAPITALIZATION(2): 642 MILLION ENTERPRISE VALUE(2): 1.1 BILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING…
  3. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 3
    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 43% Services 45% PRODUCTION SERVICES Well Servicing 109…
  4. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 4
    Recent Updates Drilling Services Utilization in January was 82%. Current utilization is 87%(1). Colombia Seven of eight rigs are currently working Production Services Well servicing utilization in January was 89% Coiled tubing…
  5. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 5
    Investment Considerations Summary Mix of service lines provides exposure to the full well life cycle including drilling, completions, workovers, and ongoing well maintenance Approximately 60% of US revenue(1) attributable to the…
  6. SIMMONS & COMPANY 14TH ANNUAL 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. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 7
    Leverage to Premier Unconventional Plays % of TTM Revenue(1) Pioneer Fleet Exposure 18% BAKKEN SHALE 15% 11 13% Drilling Production RIGS 18 14 UNITS Services Services RIGS 52% 48% 0% Drilling Well Wireline Coiled…
  8. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 8
    Toptier 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 For the Association of Energy Service Contractors…
  9. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 9
    Cash Flow Generation and Debt Reduction 120 From June 2013 through December 2013, borrowings on the revolver 99 97 were reduced by 60MM 100 95 80 73 71 Additional debt reduction is expected 70 64 throughout 2014 63 (…
  10. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 10
    Future Growth Opportunities (post delevering) 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…
  11. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 11
    PRODUCTION SERVICES 12
  12. SIMMONS & COMPANY 14TH ANNUAL 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 & COMPANY 14TH ANNUAL 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 & COMPANY 14TH ANNUAL 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 & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 15
    DRILLING SERVICES 16
  16. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 16
    Drilling Services SERVICE OVERVIEW OPERATING LOCATIONS Over 70% 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…
  17. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 17
    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 7501,200HP 1,0001,300HP 1,0002,000HP Top…
  18. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 18
    19
  19. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 19
    Revenue and Cash Flow Development REVENUE / ADJUSTED EBITDA ( millions) CAPEX SPEND ( millions) 1,125 400 364 1,000 960 350 919 875 300 750 716 250 625 210 200 487 500 165 150 131 375 326 115 249 235 100 250 191…
  20. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 20
    Liquidity and Capital Structure December 31st, 2013 ( millions) Actual Cash 27.4 Senior Secured Revolving Credit Facility due 2016 80.0 Senior Unsecured Notes due 2018(1) 419.6 Other 2.9 Total Debt 502.5 Shareholders' Equity 518.4…
  21. SIMMONS & COMPANY 14TH ANNUAL 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, impairments, and the Colombian Net Equity Tax. Although not prescribed…
  22. SIMMONS & COMPANY 14TH ANNUAL ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 22

From the store

Browse maps, data & reports in the Shale Experts store