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SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · Feb 28, 2013 · 29 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 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 1
    SIMMONS ENERGY CONFERENCE February 28th, 2013
  2. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 2
    Overview Ticker Symbol: PES Market Cap: 526 million (February 22nd, 2013) Stock price: 8.65 (February 22nd, 2013) Average 3month daily 543,077 shares trading volume: Public float: Approximately 61.9 million shares Employees:…
  3. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 3
    Pioneer Energy Services 108 Well Servicing Rigs in 12 Locations Approximately 7th largest well servicing provider 119 Wireline Units in 23 Locations 103 casedhole 16 openhole 13 Coiled Tubing Units in 4 Locations Approximately 14th…
  4. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 4
    Recent Updates All eight rigs in Colombia are currently working Term contracts for six of the rigs have been extended through Q1 2013 to allow additional time for longterm contract negotiations Current drilling utilization is…
  5. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 5
    Leading Service Provider Across Well Life Cycle DISTRICT AND DIVISION OFFICES 6
  6. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 6
    Stable, Balanced Earnings FY 2012 54% 46% 50% 50% Total Revenue: 919 million Total Margin: 333 million Drilling Services Production Services 7
  7. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 7
    Steady Organic Asset Growth Continued organic growth opportunities in core businesses Signed multiyear term contracts for 10 newbuild drilling rigs Added a total of 19 well servicing rigs, 15 wireline units, and 3 coiled tubing units…
  8. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 8
    Toptier Safety Pioneer Energy Services was the safest among the 15 largest land contract drillers in the United States for 2011 as reported through the IADC Awarded 1st place in Division IV of the 2011 Association of Energy Service…
  9. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 9
    Toptier Safety Pioneer Energy Services was the 4th safest among the 15 largest land contract drillers in the United States through the third quarter of 2012 as reported through the IADC Awarded 3rd place in Division IV of the 2012…
  10. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 10
    Well Servicing 100% of rigs are capable of working in the unconventional plays Newest well servicing fleet in the industry with an average age of less than four years Highest average horsepower fleet in the industry with all…
  11. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 11
    Well Servicing Fleet Overview Well Servicing Locations Provides a wide range of well services to exploration and production companies Existing well maintenance Workover of existing wells Completion of newlydrilled wells Plugging…
  12. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 12
    Wireline Fleet Overview Wireline Locations One of the newest largescale wireline fleets in the industry Leading market share position in a number of key geographic markets Majority of revenue derived from cased hole…
  13. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 13
    Coiled Tubing Significant player in the offshore coiled tubing market Young fleet with all 13 units placed into service since 2009 Established in the Eagle Ford, Haynesville, Granite Wash, and offshore Gulf of Mexico 14
  14. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 14
    Coiled Tubing Fleet Overview Coiled Tubing Locations Provides a broad range of production and completion services Completion applications include frac plug drillouts, tubing conveyed perforating (TCP) and well cleanouts…
  15. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 15
    Drilling Services 16
  16. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 16
    High Quality Drilling Fleet, Focused On Unconventional Plays DRILLING LOCATIONS NORTH DAKOTA 13 rigs UTAH 5 rigs APPALACHIA 4 rigs COLOMBIA WEST TEXAS 8 rigs 23 rigs EAST TEXAS 4 rigs SOUTH TEXAS 14 rigs 17
  17. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 17
    Pioneer Rig Class Comparison Top Drive 2012/2013 HighEnd HighEnd Electric NewBuild Mechanical Mechanical Deliveries Drawworks 7501,200HP 1,0001,300HP 1,0002,000HP 1,0001,500HP Top Drive 250500 Ton AC 250500 Ton AC 500 Ton AC…
  18. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 18
    Strong Utilization Through the Cycles Averaged over 80% utilization through cycles since 2001, comparing favorably to peers Current utilization of 85%(1) Comparable Utilization Rates 100% 80% 60% 40% 20% 0%…
  19. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 19
    Modern, Efficient Drilling Fleet 46 rigs with top drives (65% of fleet) 50 Series Rig 25 walking/skidding systems on rigs 46 pairs of 1,300/1,600/2,000HP mud pumps 83% of rigs have iron roughnecks 54% of rigs are…
  20. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 20
    NewBuild Features Stateoftheart 550K and 750K sub & mast AC newbuilds Integrated 500 ton top drives in mast section for faster rig up and rig down Crane free rig up / rig down design 30 loads on base rig for fast moves…
  21. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 21
    NewBuild Pad Drilling Capability PinOn Walking System Can walk in either direction or spin the rig Can walk with full set back of drill pipes in mast Amphion AC Control Systems Latest features in rig control software Climatized…
  22. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 22
    NewBuild Advanced Electrical System Festoon System to Manage Electrical Supply to Substructure 23
  23. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 23
    Financials 24
  24. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 24
    Strong Revenue and Adjusted EBITDA Growth Revenue ( millions) Adjusted EBITDA ( millions) Note: Fiscal year end was changed from March 31 to December 31 effective on December 31, 2007; all data points reflect calendar year and…
  25. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 25
    Contribution by Segment Revenue Gross Margin Note: Fiscal year end was changed from March 31 to December 31 effective on December 31, 2007; all data points reflect calendar year and trailing twelve months information derived from…
  26. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 26
    Liquidity and Capital Structure December 31st, 2012 ( in millions) Actual Cash 23.7 Revolving Credit Facility 100.0 Sr. Unsecured Notes(1) 418.6 Other 1.0 Total Debt 519.6 Shareholders' Equity 547.7 Total Capitalization 1,067.3…
  27. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 27
    Appendix 28
  28. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 28
    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…
  29. SIMMONS ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 29

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