Overview Ticker Symbol: PES Market Cap: 413.9 million (June 20th, 2013) Stock price: 6.68 (June 20th, 2013) Average 3-month daily 482,727 shares trading volume: Public float: Approximately 62 million shares Employees: 3,700…
Pioneer Energy Services 109 Well Servicing Rigs in 11 Locations Approximately 7th largest well servicing provider 118 Wireline Units in 25 Locations 102 cased-hole 16 open-hole 13 Coiled Tubing Units in 4 Locations Approximately…
Company Objectives Target U.S. shale and unconventional plays with premium drilling and production services Grow core businesses (drilling, wireline, well servicing and coiled tubing services) organically if returns and terms…
Investment Merits Leverage to increasing rig and well count Improving rig count would lead to improved pricing in all business lines Improving natural gas prices would increase demand, and thus dayrates, for drilling fleet Higher…
Recent Updates Current drilling revenue utilization is 84%(1) Colombia All eight rigs in Colombia are currently working Six rigs are under term contract through the end of 2013 One of the two remaining rigs is expected to work into…
Leading Service Provider Across Well Life Cycle DISTRICT AND DIVISION OFFICES 8
Stable, Balanced Earnings YTD MAR 2013 TTM MAR 30th, 2013 42% 55% 45% 58% Total Revenue: 230 million Total Revenue: 917 million 45% 51% 49% 55% Total Margin: 80 million Total Margin: 323 million Drilling…
Steady Organic Asset Growth Continued organic growth opportunities in core businesses Delivered 10 new-build drilling rigs on long-term contracts Added a total of 19 well servicing rigs, 15 wireline units, and 3 coiled tubing units…
Top-tier 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…
Top-tier Safety Pioneer Energy Services was the 2nd safest among the 15 largest land contract drillers in the United States for 2012 as reported through the IADC Awarded 3rd place in Division IV of the 2012 Association of Energy…
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 five years Highest average horsepower fleet in the industry with all rigs…
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 newly-drilled wells Plugging…
Wireline Fleet Overview Wireline Locations One of the newest large-scale wireline fleets in the industry Leading market share position in a number of key geographic markets Majority of revenue derived from cased- hole…
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 16
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…
Drilling Services 18
High Quality Drilling Fleet, Focused On Unconventional Plays DRILLING LOCATIONS NORTH DAKOTA 12 rigs UTAH 7 rigs APPALACHIA 4 rigs COLOMBIA WEST TEXAS 8 rigs 22 rigs EAST TEXAS 3 rigs SOUTH TEXAS 14 rigs 19
Pioneer Rig Class Comparison Top Drive 2012/2013 High-End High-End Electric New-Build Mechanical Mechanical Deliveries Drawworks 750-1,200HP 1,000-1,300HP 1,000-2,000HP 1,000-1,500HP Top Drive --- 250-500 Ton AC 250-500 Ton AC…
Strong Utilization Through the Cycles Averaged over 80% utilization through cycles since 2001, comparing favorably to peers Current revenue utilization of 84%(1) Comparable Utilization Rates 100% 80% 60% 40% 20%…
Modern, Efficient Drilling Fleet 47 rigs with top drives (67% of fleet) 50 Series Rig 29 walking/skidding systems on rigs 49 pairs of 1,300/1,600/2,000HP mud pumps 84% of rigs have iron roughnecks 56% of rigs are…
New-Build Features State-of-the-art 550K and 750K sub & mast AC new-builds 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…
New-Build Pad Drilling Capability Pin-On 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…
New-Build Advanced Electrical System Festoon System to Manage Electrical Supply to Substructure 25
Contribution by Segment Revenue Gross Margin 100% 100% 90% 90% 80% 80% 50% 54% 58% 55% 55% 55% 70% 61% 70% 68% 64% 66% 75% 72% % of Total Revenue % of Total Margin 60% 60% 50% 50% 40% 40% 30% 30% 50% 46% 42% 45%…
Liquidity and Capital Structure March 31st, 2013 ( in millions) Actual Cash 10.5 Revolving Credit Facility 140.0 Sr. Unsecured Notes(1) 418.8 Other 0.3 Total Debt 559.2 Shareholders' Equity 547.9 Total Capitalization 1,107.0…
Appendix 30
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…
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