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HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc.

Basic Energy Services Inc. · Mar 23, 2014 · 25 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. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 1
    Howard Weil 42nd Annual Energy Conference New Orleans, LA March 23-27, 2014 OUR LIFES WORK IS THE LIFE OF THE WELLTM NYSE: BAS
  2. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 2
    Proven Growth Strategy TM Our Lifes Work is the Life of the Well Basic Energy Services supports its customers well site activities from cradle to grave Diversified service offering poised for future growth opportunities The…
  3. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 3
    Our Lifes Work is the Life of the WellTM Every Well is a Potential Life-Long Customer Production Basics Strategy for Success 1. Rate of Returns Driven 2. Proven Management with Ability to Weather Cycles 3. Diversified Service…
  4. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 4
    Diversified Oil Service Company Completion and Remedial Services Fluid Services 40% of revenue 27% of revenue Contract Drilling 4% of revenue Well Servicing 29% of revenue Revenue percentages are for the year ended…
  5. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 5
    Extensive Footprint in Prolific Basins Significant Exposure to Major Oil and Gas Markets 70% Revenue Exposure to Oil and Liquids Activity Appalachia 190,000+ Gross Wells (10% oil) BAKKEN Rocky Mountains 130,000+ Gross Wells…
  6. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 6
    Significant Presence in the Permian Basin NEW MEXICO TEXAS New Mexico Shelf Represents about 43% of Basics current Levelland Central Basin Platform - Abo revenue stream - San Andres - Yeso Basics presence in the Permian Basin dates…
  7. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 7
    Positioned to Grow with Horizontal & Pad Drilling Service Capabilities Core Suite of Services Vertical Well Horizontal/Directional Well Drilling rigs Pad drilling Cementing Acidizing Squeeze-cementing (workover) Fracturing and…
  8. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 8
    Diversified Customer Base Top Ten Customers for 2013 Represented 35% of Revenues (1) Top Ten Customers for 2013 North American E&P Company Spending 180 160 140 120 100 80 60 40 20 0 2006 2007 2008 2009 2010 2011…
  9. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 9
    Capital Expenditure Budget 2014 Plan Financial Flexibility to Adjust Capital Investments Based on Market Conditions Total 2014 Budget: 215 million Expansion Budget Components 5MM 1MM 8MM 34MM 45MM 85MM 122MM Completion and…
  10. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 10
    How We Manage Through Cycles Invest in new equipment Expand into new markets Maximize utilization to increase market share Develop new service offerings Upcycle Match CapEx to cash flow Downcycle Maximize utilization to…
  11. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 11
    Cycle Tested 10 Consecutive Years of Positive Cash Flow From Operations 500 1,800 450 1,600 400 1,400 350 Cumulative CFFO (Millions) 1,200 CapEx (Millions) 300 1,000 250 800 200 600 150 400 100 50 200 0…
  12. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 12
    Equipment Matched to Market Needs By Maintaining a Modern and Active Asset Base, We Are Better Able to Earn Our Customers Business While Reducing the Risk of Potential Downtime Our Modern Fleet Operate a modern fleet matched to the…
  13. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 13
    Disciplined Approach to Acquisitions Recent Strategic Acquisitions and Expansions Full-Year 2011 (216.4 million) Plugging Water recycling Salt water disposal wells Enhances 25% Return Existing Suite on Invested Coil tubing of…
  14. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 14
    Specialized Completion & Remedial Services Focused on Markets Traditionally Underserved by Larger Competitors Revenue Support drilling, workover and production 180 160 processes 140 Pumping services for cementing, acidizing, 120…
  15. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 15
    Quarterly Pumping Services Jobs & Revenue 120 2,500 100 2,000 80 Number of Jobs 1,500 Millions 60 1,000 40 500 20 0 0 Revenue* Cementing Acid & General Pumping Frac 16 * Revenue is sum of cementing,…
  16. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 16
    Fluid Services Basic Continues to Grow Integrated Fluid Service Business Anchored by SWD Expansion Revenue Transportation and disposal of salt water 120 produced as a by-product of oil and gas 100 production Sale, transportation,…
  17. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 17
    Fluid Service Truck Hours 215,000 1,050 205,000 1,000 195,000 Average Number of Trucks 185,000 950 Truck Hours 175,000 900 165,000 850 155,000 145,000 800 135,000 750 125,000 115,000 700 Jan09 Jan10 Jan11…
  18. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 18
    Fluid Service Truck Hours 215,000 90 205,000 Number of Salt Water Disposal Wells 85 195,000 185,000 80 Truck Hours 175,000 75 165,000 70 155,000 145,000 65 135,000 60 125,000 115,000 55 Jan09 Jan10 Jan11…
  19. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 19
    Well Servicing Rigs Facilitate Down Hole Activity Revenue 120 Service Work - routine maintenance of down- hole equipment to return well to production 100 Workover - periodic major maintenance and 80 Millions renovation to…
  20. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 20
    Well Servicing Rig Utilization Rates Steady Activity Levels in Oil and Liquid-Directed Markets Continue to Drive Demand 85,000 90% 80% 75,000 70% 65,000 60% Utilization Rate Rig Hours 50% 55,000 40% 45,000 30%…
  21. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 21
    Contract Drilling 12 Rig Fleet Customized to the Permian Basin Market Area Revenue Fleet of 12 drilling rigs in the Permian Basin 18 One 16 Two pre-set casing rig 1,200HP SCR rigs 14 12 Millions 10 8 6 4 Three 2 Six…
  22. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 22
    Cycle-Tested Balance Sheet That Funds Growth Disciplined Approach to Capital Deployment Debt Maturity Distribution 500 Debt Ratios at December 31, 2013 450 Adjusted EBITDA / Interest Expense 3.5 x 400 Total Debt / Adjusted EBITDA…
  23. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 23
    Quarterly Financial Performance High Operating Leverage Drives Cash Flow 400 35% 350 30% 300 25% 250 20% 200 15% 150 10% 100 50 5% 0 0% Revenue Adjusted EBITDA Adjusted EBITDA Margin 24
  24. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 24
    Back to Basics Diversified service offerings for Providing a safe work environment is a top both vertical and horizontal activity priority Returns driven through the cycles Modern fleet matched to market needs Operating in basins…
  25. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 25
    Explanatory Information Adjusted EBITDA means earnings before interest, taxes, depreciation, amortization., gain or loss of disposal of assets and any non-recurring items. Adjusted EBITDA is used as an supplemental financial measure by…

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