GOLDMAN SACHS GLOBAL ENERGY CONFERENCE 2013 January 9th, 2013
Overview Ticker Symbol: PES Market Cap: 478.3 million (January 3rd, 2012) Stock price: 7.70 (January 3rd, 2012) Average 3-month daily 544,644 shares trading volume: Public float: Approximately 61.9 million shares Employees: 3,650…
Pioneer Energy Services 108 Well Servicing Rigs in 12 Locations Approximately 7th largest well servicing provider 120 Wireline Units in 25 Locations 104 cased-hole 16 open-hole 13 Coiled Tubing Units in 4 Locations Approximately…
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 long-term contract negotiations Current drilling utilization is…
Leading Service Provider Across Well Life Cycle DIVERSIFIED BUSINESS AND GEOGRAPHY MIX 6
Investment Considerations Pioneer offers a diversified suite of services that include drilling the bore hole, completing, and ultimately establishing and maintaining a well on production Bifurcated land rig market providing improved…
Stable, Balanced Earnings YTD SEPT 2012 TTM SEPT 30th, 2012 53% 47% 55% 45% Total Revenue: 692 million Total Revenue: 895 million 48% 52% 49% 51% Total Margin: 252 million Total Margin: 327 million Drilling…
Steady Organic Asset Growth Continued organic growth opportunities in core businesses Signed multi-year term contracts for 10 new-build drilling rigs Added a total of 19 well servicing rigs, 15 wireline units, and 3 coiled tubing…
U.S. Land Rig Activity Over 60% of wells drilled in 2011 were vertical or directional under 11,000 deep Vertical wells will not be drilled with 1,500HP A/C topdrive rigs Demand for high-end mechanical rigs will be robust for years…
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…
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 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 Newest large-scale wireline fleet in the industry Leading market share position in a number of key geographic markets High growth business: 33% unit growth in 2010, 25% in 2011 and 14%…
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 15
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 17
High Quality Drilling Fleet, Focused On Unconventional Plays DRILLING LOCATIONS NORTH DAKOTA 12 rigs UTAH 5 rigs APPALACHIA 4 rigs COLOMBIA WEST TEXAS 8 rigs 23 rigs EAST TEXAS 4 rigs SOUTH TEXAS 13 rigs 18
Pioneer Energy Services Facts Pioneer received an award from Private, Small Cap, Ecopetrol as having the top two 14% 12% Mid Cap, performing rigs out of approximately Mega Cap, 12% 14% 140 rigs in Colombia for 2011 Large Cap,…
Pioneer Rig Class Comparison Topdrive 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 Topdrive --- 250-500 Ton AC 250-500 Ton AC 500…
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%…
Modern, Efficient Drilling Fleet 44 rigs with top drives (64% of fleet) 50 Series Rig 23 walking/skidding systems on rigs 44 pairs of 1,300/1,600/2,000HP mud pumps 83% of rigs have iron roughnecks 52% of rigs are…
New-Build Features State-of-the-art 550K and 750K sub & mast AC new-builds Integrated 500 ton topdrives 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…
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% 48% 53% 55% 55% 70% 61% 70% 68% 64% 66% 75% 72% % of Total Revenue % of Total Margin 60% 60% 50% 50% 40% 40% 30% 30% 52% 47% 45% 45% 20%…
Strong Liquidity and Capital Structure Capitalization (As of September 30th, 2012) September 30th , 2012 ( in millions) Actual Cash 6.3 Revolving Credit Facility 80.0 Sr. Unsecured Notes(1) 418.4 Other 1.0 Total Debt 499.4…
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…
Loading...
