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CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc.

Basic Energy Services Inc. · Dec 11, 2013 · 24 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. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 1
    TM OUR LIFES WORK IS THE LIFE OF THE WELL Capital One Securities Energy Conference New Orleans, LA December 11, 2013 NYSE: BAS
  2. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 2
    Overview of Basic Energy Services Completion & Fluid Services Well Servicing Contract Drilling Remedial Services LTM revenue = 499mm LTM revenue = 338mm LTM revenue = 364mm LTM revenue = 56mm 297k HHP pumping 989 trucks 425 rigs 12…
  3. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 3
    Extensive Footprint in Prolific Basins Portfolio approach expanding suite of services within several active geographic regions Significant exposure to major oil and gas markets 70% revenue exposure to oil and liquids activity Core…
  4. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 4
    Significant Presence in the Permian Basin Basics presence in the Permian Basin dates Leading Permian Presence to its founding in 1992 NEW MEXICO Levelland New Mexico Shelf Provides a significant market for the full - Abo range of…
  5. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 5
    Diversified Customer Base Top Ten Customers for YTD 9/30/13 Represented 36% of Revenues Apache Whiting Petroleum Anadarko Petroleum EOG Resources Chesapeake Energy Concho Resources ExxonMobil Devon Pioneer Natural…
  6. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 6
    Current Investment Strategy Capital Expenditures 2013 capital spending plan revised downward to 165 million from original budget of 185 million Annual base maintenance/sustaining capital expenditures now about 105 million Expansion…
  7. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 7
    Most Recent Commentary and Guidance 4Q13 and early 2014 Outlook November activity was impacted by both the extended Thanksgiving holiday as well as severe winter weather in our Permian Basin and Mid-Continent operations. Net of the…
  8. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 8
    Summary Financials YTD in millions, except per share data 2008 2009 2010 2011 2012 9/30/13 Revenues 1,005 527 728 1,243 1,375 955 Segment profit 392 137 221 477 472 299 % of revenue 39% 26% 30% 38% 34% 31% Adjusted EBITDA 1 277…
  9. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 9
    Enhanced Balance Sheet and Liquidity Capitalization as of September 30, 2013 in millions Cash and cash equivalents 100 7.75% Senior Notes due 2022 B2/B+ 300 7.75% Senior Notes due 2019 B2/B+ 477 250 million revolver - Other debt…
  10. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 10
    Quarterly Segment Data Completion & Remedial Services Revenues Segment Profit 200 80 60% 70 50% 150 60 40% millions 50 millions 100 40 30% 30 20% 50 20 10 10% 0 0 0% 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12…
  11. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 11
    Quarterly Segment Data Well Servicing Revenues Segment Profit 120 50 50% 100 40 40% 80 millions 30 30% millions 60 20 20% 40 20 10 10% 0 0 0% 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12 1Q13 1Q04 1Q05 1Q06 1Q07…
  12. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 12
    Basic Investment Highlights Diversified Service 4 business segments, balanced across the life cycle of the well Offerings Geographic and business line diversity Located in basins with high liquid yields and attractive economics…
  13. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 13
    Supplemental Information
  14. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 14
    Quarterly Financial Performance millions EBITDA Margin 400 35% 350 30% 300 25% 250 20% 200 15% 150 10% 100 50 5% - 0% 1Q09 1Q10 1Q11 1Q12 1Q13 Adjusted EBITDA Revenue EBITDA % of rev 14
  15. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 15
    Specialized Completion & Remedial Services Provides support to drilling, workover and production processes Pumping services for cementing, acidizing, squeeze-cementing (workover), fracturing and re-fracturing Fishing tools and rental…
  16. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 16
    BAS Quarterly Pumping Services Jobs and Revenue Revenue Number of Jobs millions 2,500 120 2,250 100 2,000 1,750 80 1,500 1,250 60 1,000 40 750 500 20 250 - 0 1Q08 1Q09 1Q10 1Q11 1Q12 1Q13 of jobs : Cement Acid &…
  17. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 17
    Basic Provides a Full Range of Fluid Handling 989 Trucks by Market Area Mid-Continent Rocky Mtns 7% 14% Permian Transportation and disposal of salt water 45% Basin produced as a by-product of oil and gas Gulf Coast 16%…
  18. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 18
    Fluid Service Truck Hours Truck Hours Avg Number of Trucks 215,000 1,025 205,000 1,000 975 195,000 950 185,000 925 175,000 900 875 165,000 850 155,000 825 145,000 800 775 135,000 750 125,000 725 115,000 700 Jan09 Jul Jan10 Jul…
  19. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 19
    Fluid Service Revenue per Truck Trends Revenue Per Fluid Service Truck Recent Revenue per Truck Trend 000s 000s 452 391 380 91 305 267 89 88 88 86 2008 2009 2010 2011 2012 3Q 4Q 1Q13 2Q 3Q SWD expansion allows us to…
  20. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 20
    Well Servicing Rigs Facilitate Down Hole Activity 425 Rigs by Market Area Stacked 2% Marcellus Ark-La-Tex 8% 9% Permian Mid-Continent 11% 45% Basin 11% Gulf Coast 14% Service Work - routine maintenance of Rocky Mtns. down-hole…
  21. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 21
    Well Servicing Rig Utilization Rates Rig Hours Utilization Rate 85,000 90% 75,000 80% 65,000 70% 55,000 60% 45,000 50% 35,000 40% 25,000 30% Jan09 Jul Jan10 Jul Jan11 Jul Jan12 Jul Jan13 Jul Rig Hours Utilization Rate…
  22. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 22
    Well Servicing Revenue per Rig Hour Trends Revenue Per Well Servicing Rig Hour Recent Revenue per Rig Hour Trend 408 397 402 393 399 408 404 380 331 319 2008 2009 2010 2011 2012 3Q 4Q 1Q13 2Q 3Q Revenue per rig hour has…
  23. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 23
    Contract Drilling Diversifies Service Offering Fleet of 12 drilling rigs in the Permian Basin Market Area Permian Basin Two 1,200HP SCR rigs (to 16,000 feet and horizontal) Typical drilling locations Three 1,000HP rigs (8,000…
  24. CAPITAL ONE SECURITIES ENERGY CONFERENCE – Basic Energy Services Inc. – slide 24
    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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