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HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc.

Basic Energy Services Inc. · Mar 20, 2013 · 27 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 ENERGY CONFERENCE – Basic Energy Services Inc. – slide 1
    TM OUR LIFES WORK IS THE LIFE OF THE WELL Howard Weil Energy Conference March 20, 2013 New Orleans, LA NYSE: BAS
  2. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 2
    Overview of Basic Energy Services Completion & Fluid Services Well Servicing Contract Drilling Remedial Services 2012 revenue = 586mm 2012 revenue = 352mm 2012 revenue = 376mm 2012 revenue = 60mm 291k HHP pumping 962 trucks 425 rigs…
  3. HOWARD WEIL 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. HOWARD WEIL 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. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 5
    Diversified Customer Base Top Ten Customers for 2012 Represented 37% of Revenues Apache Berry Petroleum Chesapeake Energy BP America ExxonMobil Whiting Petroleum Anadarko Petroleum EOG Resources Pioneer Natural Resources…
  6. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 6
    Current Investment Strategy Capital Expenditures 2013 capital spending expected to be 185 million Annual base maintenance/sustaining capital expenditures now about 125 million Expansion capital directed mainly towards additional salt…
  7. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 7
    Most Recent Near-Term Commentary and Guidance Q1 2013 Outlook Full Year 2013 Outlook Revenues increase by 2%-3% sequentially Revenues similar to what we achieved in Profit margins impacted by the reset of 2012 unemployment taxes which…
  8. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 8
    Segment Overviews
  9. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 9
    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…
  10. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 10
    BAS Quarterly Pumping Services Jobs and Revenue Acquisition of Maverick Companies 10
  11. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 11
    Basic Provides a Full Range of Fluid Handling 962 Trucks by Market Area Mid-Continent Rocky Mtns 9% 12% Permian Transportation and disposal of salt water 44% Basin produced as a by-product of oil and gas Gulf Coast 16% production…
  12. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 12
    BAS Fluid Services Capabilities in the Life of the Well Production & Service/Phase in Well Life Drilling Completion Maintenance Workover P&A Fluid Sales Fresh Water Weighted Fluid Transportation Vacuum Trucks Flowline Storage…
  13. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 13
    Fluid Service Revenue per Truck Trends Revenue Per Fluid Service Truck Recent Revenue per Truck Trend 000s 000s 452 391 380 104 106 99 305 91 86 267 2008 2009 2010 2011 2012 4Q11 1Q12 2Q 3Q 4Q Lower non-trucking revenue…
  14. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 14
    Fluid Service Truck Hours Expect to add about 35 trucks in 2013 14
  15. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 15
    Well Servicing Rigs Facilitate Down Hole Activity 425 Rigs by Market Area Stacked 2% Marcellus Ark-La-Tex 7% 8% Permian Gulf Coast 12% 45% Basin 12% Rocky Mtns. 14% Service Work - routine maintenance of Mid-Continent down-hole…
  16. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 16
    Well Servicing Revenue per Rig Hour Trends Revenue Per Well Servicing Rig Hour Recent Revenue per Rig Hour Trend 408 397 398 393 399 402 393 380 331 319 2008 2009 2010 2011 2012 4Q11 1Q12 2Q 3Q 4Q Revenue per rig hour has…
  17. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 17
    Well Servicing Rig Utilization Rates Activity levels in oil and liquid-directed markets continue to drive demand 17
  18. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 18
    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 super single…
  19. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 19
    Financial Overview
  20. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 20
    Summary Financials in millions, except per share data 2008 2009 2010 2011 2012 Revenues 1,005 527 728 1,243 1,375 Segment profit 392 137 221 477 472 % of revenue 39% 26% 30% 38% 34% 1 8 Adjusted EBITDA 277 34 114 335 306 % of…
  21. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 21
    Enhanced Balance Sheet and Liquidity Capitalization as of December 31, 2012 in millions Cash and cash equivalents 135 7.75% Senior Notes due 2022 B2/B+ 300 7.75% Senior Notes due 2019 B2/B+ 477 250 million revolver - Other debt…
  22. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 22
    Focus&on DSO Credit and Accounts Collections Optimizes DSO Receivable 22
  23. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 23
    Quarterly Financial Performance millions EBITDA Margin 400 35% 350 30% 300 25% 250 20% 200 15% 150 10% 100 5% 50 - 0% 1Q09 1Q10 1Q11 1Q12 Adjusted EBITDA Revenue EBITDA % of rev 23
  24. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 24
    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…
  25. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 25
    Quarterly Segment Data Well Servicing Revenues Segment Profit 120 50 50% 100 40 40% millions 80 millions 30 30% 60 20 20% 40 20 10 10% 0 0 0% 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12 1Q04 1Q05 1Q06 1Q07 1Q08…
  26. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 26
    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…
  27. HOWARD WEIL ENERGY CONFERENCE – Basic Energy Services Inc. – slide 27
    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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