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GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · Jun 22, 2015 · 22 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. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 1
    GHS 100 ENERGY CONFERENCE June 2223, 2015
  2. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 2
    Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE1: 1.0 BILLION MARKET CAPITALIZATION2: 418 MILLION ENTERPRISE VALUE2: 814 MILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING EMPLOYEES:…
  3. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 3
    Diversified Services % of TTM REVENUE1 PRODUCTION SERVICES Well Servicing 122 Rigs Wireline 126 Units Coiled Tubing 17 Units Drilling US 39% Production Services 51% DRILLING SERVICES Drilling Services US 28 Rigs…
  4. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 4
    Fleet Composition COILED TUBING WELL SERVICING 17 17 125 116 108 109 13 13 89 10 74 6 2010 2011 2012 2013 2014 2015E 2010 2011 2012 2013 2014 2015E WIRELINE DRILLING SERVICES1 126 71 69 120 119 120 64 62 105…
  5. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 5
    Recent Updates Q2 Guidance Update Production service revenue expected to be down 1620% relative to guidance of down 1215% from the first quarter of 2015 due to impacts from adverse weather in certain operating locations and continued…
  6. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 6
    Investment Considerations Summary Exposure to the full well life cycle including drilling, completions, workovers and ongoing well maintenance Premium shaleoriented assets in all business lines with balanced exposure to…
  7. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 7
    Exposure to the Full Well Life Cycle Drilling Toe Prep Plug and Perforate 8 Drill Out Plugs Complete and Maintenance until Install Artificial Lift Plug and Abandon
  8. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 8
    Premium ShaleOriented Assets DRILLING SERVICES PRODUCTION SERVICES Premium shalecapable equipment 100% of well servicing fleet is 550600hp AC Rigs US 43% with 104, 112 or 116 masts Full suite of coiled tubing offerings from…
  9. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 9
    Leverage and Debt Maturities Restructured balance sheet in 2014 through multiple capital markets transactions Completed 300 million 6.125% Senior Notes offering Redeemed 425 million of 9.875% Senior Notes Extended and upsized…
  10. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 10
    IndustryLeading Safety For many years, Pioneer has been a leader in U.S. land drilling safety. Our commitment to industryleading safety helps us retain highquality employees, broaden our client base, and reduce operating costs.…
  11. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 11
    PRODUCTION SERVICES 12
  12. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 12
    Well Servicing SERVICE OVERVIEW OPERATING LOCATIONS Of the toptier well servicing providers, Pioneer has the: Highest utilization rate Highest average hourly rate Highest average horsepower fleet with all rigs either 550hp or…
  13. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 13
    Wireline SERVICE OVERVIEW OPERATING LOCATIONS Leading market share position in a number of key geographic markets Majority of revenue derived from casedhole operations that include perforating, logging, and pipe recovery…
  14. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 14
    Coiled Tubing SERVICE OVERVIEW OPERATING LOCATIONS Significant player in the offshore coiled tubing market Fleet currently provides an array of services with coil capabilities ranging from 1.25 to 2.375 coiled tubing…
  15. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 15
    DRILLING SERVICES 16
  16. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 16
    Drilling Services 1,500HP AC NEWBUILD TECHNOLOGY OPERATING LOCATIONS Walks 150 in Xdirection and 50 in Ydirection while racking over 24,000 of 5 drill pipe 2,000hp mud pumps and 7,500psi mud system Moves in less than three days…
  17. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 17
    Pioneer Drilling Rig Class Comparison AC SCR MECH Number of Rigs 12 21 3 % of Fleet 33% 58% 8% Drawworks 1,2002,000HP 1,0001,500HP 9001,200HP PadCapable 100% 71% Utilization % 100% 48% 67% RIG FLEET CHARACTERISTICS1 78%…
  18. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 18
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  19. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 19
    Historical Financial Results REVENUE / ADJUSTED EBITDA ( millions) CAPEX SPEND ( millions) 1,125 400 1,055 1,010 364 1,000 960 919 350 875 300 750 716 250 625 210 200 487 500 175 165 150 375 131 277 249 235 251…
  20. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 20
    Liquidity and Capital Structure March 31st, 2015 ( millions) Actual Cash 35.7 Senior Secured Revolving Credit Facility due 2019 130.0 6.125% Senior Unsecured Notes due 2022 300.0 Total Debt 430.0 Shareholders' Equity 483.1…
  21. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 21
    Reconciliation of Adjusted EBITDA to Net Income We define Adjusted EBITDA as earnings (loss) before interest income (expense), taxes, depreciation, amortization, loss on extinguishment of debt, impairments, and the Colombian Net Equity…
  22. GHS 100 ENERGY CONFERENCE – Pioneer Energy Services Corp. – slide 22
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