ICD Operational Footprint Target Areas of Growth: Texas, Louisana, Oklahoma and New Mexico 5
Major Secular Shift in Unconventional Development is Underway Moving from Delineation Drilling to Manufacturing Resource Development The shift to development over the past four years has U.S. Land Rig Count been substantial: Rapid…
Ongoing Resource Play Development Driving a Rig Replacement Cycle Operator Demand has Defined the Preferred Rig for Resource Exploitation = Pad Optimal Variable frequency drive allows for precise computer ICDs Standardized Fleet is Fit…
Pad Optimal AC Drilling Rigs Continue to be in Short Supply Producer Demand Driving a U.S. Rig Replacement Cycle Rig Replacement Cycle Majority of the existing U.S. rig fleet is made Tremendous Acceleration in past four months up of…
ICDs Compelling Value Proposition to E&P Customers Solution to Producers Most Economically Impactful and Technically Complex Investments Core Producer ICDs Value Proposition Requirements Allows customers to drill faster and…
Operational Excellence Operating Efficiency Culture dedicated to safety and operational excellence Operating/ 11.2% drives ICD value proposition Uptime to E&P operators. 86.8% Rig Move ICD newbuilds operate at 98% Overall…
Shaledriller = Enabling Technology BOPCo, L.P. Drilling Island Project Eddy County New Mexico Potential for +40 wells on single pad. Bifuel drilling operation (1500/day savings). Concrete coffin cellars for multi-wells. SEMS II…
Current Market Conditions Operators remain focused on U.S Land Rig Count unconventional assets. 1,900 1,700 Operators focused on differentiating 1,500 technology that reduces overall 1,300 costs to develop reserves. 1,100…
Control Over Cost Chain Modular manufacturing drives Modular Manufacturing operational efficiencies and eliminates fixed costs. Rig crews assemble rigs, driving safety and uptime. Subassemblies manufactured by select vendors…
ICD Term Contract Coverage ICD 2015 backlog Available Fleet Under Term Contract in 2015(1) 70% Greater than 2014 revenues. Greater operating days than 2014. 60% At higher average dayrate than 2014. 50% Drives increase in…
Quality Customer Base ICD customers are well capitalized with ICD Customer Base established, long-term drilling plans. Publicly Traded Demand the highest quality and safest Private operations. Utilize pad drilling to maximize…
ICD is Poised to Deliver Substantial Value to Investors Large Operators are Leading Unconventional Resource Capture ShaleDrillerTM Offers a Major Secular Shift in Compelling Value Unconventional Proposition to E&P Development…
Financial Strategy and Capitalization Financial Strategy Financial Flexibility and Liquidity millions Maintain conservative balance sheet Debt/EBITDA ratio of less than 3.0x throughout completion of 2015 rig build. Cash 12/31/14…
2015 Capex Budget Provides Flexibility Completion of 3 new builds 2015 Capex Budget pursuant to multi-year term 54 million contracts. Completion of critical spare Rig Build inventory. Capital Spare Upgrade/Additional Rig…
APPENDICES 20
Income Statement Three Months Ended Twelve Months Ended December 31, September 30, December 31, 2014 2013 2014 2014 2013 Revenues 23,014 13,141 19,123 70,347 42,786 Costs and expenses Operating costs 12,685 8,438 11,909 42,654…
Balance Sheet December 31, 2014 December 31, 2013 Assets Cash and cash equivalents 10,757 2,730 Accounts receivable, net 19,127 9,089 Inventory 2,124 1,128 Vendor advances - 6,168 Deferred taxes 323 - Prepaid expenses and other…
Selected Operating Data Three Months Ended Twelve Months Ended December 31, December 31, September 30, December 31, December 31, 2014 2013 2014 2014 2013 Number of completed rigs end of period (1) 11 7 9 11 7 Rig operating days…
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