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JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc.

Independence Contract Drilling, Inc. · Sep 29, 2014 · 15 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. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 1
    Independence Contract Drilling Johnson Rice Energy Conference September 29, 2014
  2. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 2
  3. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 3
    Independence Contract Drilling Overview U.S. Land-Based Contract Driller Providing Premium Services Independence Contract Drilling (ICD) Overview ICDs ShaleDrillerTM Rig ICD assembles, owns and operates a premium rig fleet comprised…
  4. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 4
    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…
  5. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 5
    Large Operators are Leading Unconventional Resource Capture Long-Term Investment Horizons; Capable of Drilling Through the Cycles The North American shale revolution has driven massive U.S. Unconventional Asset Deals Since 2008 by…
  6. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 6
    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…
  7. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 7
    Pad Optimal AC Drilling Rigs are 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 Increase in AC Rig Use since 2008 up of legacy…
  8. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 8
    Continue to be a Low Cost Rig Provider for the E&P Sector Vertically integrated business model provides a In-House Rig Construction Process is a Key Differentiator compounding capital advantage vs. purchasers of third party rigs -…
  9. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 9
    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…
  10. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 10
    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…
  11. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 11
    Financial Strategy and Capitalization Financial Flexibility with a Large Financial Strategy Cash Balance and Undrawn Revolver post IPO millions Maintain conservative balance sheet - Target a normalized Debt/EBITDA ratio of less…
  12. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 12
    Second Quarter 2014
  13. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 13
    Second Quarter Summary Three Months Ended June 30, Six Months Ended June 30, 2014 2013 2014 2013 Revenues 14,661 9,784 28,210 18,041 Costs and expenses Operating costs 9,283 6,787 18,060 12,724 Selling, general and administrative…
  14. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 14
    Second Quarter Summary Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2014 2013 2014 2013 Net income (loss) 1,556 (669) (2,149) (2,365) Add back: Income tax provision (benefit) 667 (432) (1,218)…
  15. JOHNSON RICE ENERGY CONFERENCE – Independence Contract Drilling, Inc. – slide 15
    Second Quarter Summary Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2014 2013 2014 2013 Number of completed rigs (end of period)(1) 8 5 8 5 Rig operating days (2) 636.1 420.0 1243.4 747.0 Average number…

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