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Johnson Rice and Company Energy Conference – Basic Energy Services Inc.

Basic Energy Services Inc. · Sep 29, 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. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 1
    Johnson Rice & Company 2014 Energy Conference September 29, 2014 OUR LIFES WORK IS THE LIFE OF THE WELLTM NYSE: BAS
  2. Johnson Rice and Company 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. Johnson Rice and Company 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. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 4
    Diversified Oil Service Company Completion and Remedial Services Fluid Services 42% of revenue 27% of revenue Contract Drilling 4% of revenue Well Servicing 27% of revenue Revenue percentages are for LTM ended June 30,…
  5. Johnson Rice and Company 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 BAKKEN 190,000+ Gross Wells (10% oil) APPALACHIA Rocky Mountains 130,000+…
  6. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 6
    Significant Presence in the Permian Basin Represents about 45% of BAS current revenue stream BAS presence in the Permian Basin dates to its founding in 1992 Levelland Provides a significant market for the full range Loco Hills of…
  7. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 7
    Diverse Customer Mix Revenue by Our Customer Group Active Rigs by Well Type Lower 48 Customer Revenue 14% Grouping to Basic 25% 12% 37% Large 6 mm 31% 55% Medium 65 k < 6 mm 63% 63% Small < 65 k Directional Horizontal Oil Gas…
  8. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 8
    Diversified Customer Base Top Ten Customers for 2013 Represent 33% of Revenues Top Ten Customers for LTM (1) ending June 30, 2014 North American E&P Company Spending 180 160 140 120 100 80 60 40 20 0 2006 2007 2008…
  9. Johnson Rice and Company 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: 285 million millions Expansion Budget Components 8 5 1 122 34 155 115 Completion &…
  10. Johnson Rice and Company 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. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 11
    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…
  12. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 12
    Disciplined Approach to Acquisitions Recent Strategic Acquisitions and Expansions Full-Year 2011 (216.4 million) Plugging Water recycling Salt water disposal wells Enhances Existing Suite Coil tubing of Services Stimulation…
  13. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 13
    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…
  14. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 14
    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 1Q08 2Q 3Q 4Q 1Q09 2Q 3Q 4Q 1Q10 2Q 3Q 4Q 1Q11 2Q 3Q 4Q 1Q12 2Q 3Q 4Q…
  15. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 15
    Pumping Services HHP Allocation 297,000 Total HHP 412,100 Total HHP Dec 31, 2013 HHP by District Dec 31, 2014 HHP by District* 40,200 6,700 Ark-La-Tex 57,800 7,400 Mid-Con Ark-La-Tex 67,200 Permian Basin 130,700 Mid-Con 182,900…
  16. Johnson Rice and Company 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. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 17
    Fluid Service Truck Hours/Average of Trucks 235,000 1,050 1,000 215,000 Average Number of Trucks 950 195,000 Truck Hours 900 175,000 850 155,000 800 135,000 750 115,000 700 Jan09 Jan10 Jan11 Jan12 Jan13…
  18. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 18
    Fluid Service Truck Hours/ of SWD Wells 235,000 90 Number of Salt Water Disposal Wells 85 215,000 80 195,000 Truck Hours 75 175,000 70 155,000 65 135,000 60 115,000 55 Jan09 Jan10 Jan11 Jan12 Jan13 Jan14…
  19. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 19
    Well Servicing Rigs Facilitate Down Hole Activity Revenue Service Work - routine maintenance of down- 120 hole equipment to return well to production 100 Workover - periodic major maintenance and 80 renovation to sustain or improve…
  20. Johnson Rice and Company 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. Johnson Rice and Company 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 Two 16 pre-set casing rig 1,200HP SCR rigs 14 12 Millions 10 8 6 4 Three 2 Six…
  22. Johnson Rice and Company 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 June 30, 2014 450 Adjusted EBITDA / Interest Expense 4.25 x 400 350 Total Debt / Adjusted…
  23. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 23
    BAS Financial Policy Disciplined Growth Strategy with Capital Structure in Mind Capital expenditures paid through existing cash balances and cash flow Acquisitions under 25 million paid through existing cash balance Acquisitions over…
  24. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 24
    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% 1Q09 1Q10 1Q11 1Q12 1Q13 1Q14 Revenue Adjusted EBITDA Adjusted EBITDA…
  25. Johnson Rice and Company Energy Conference – Basic Energy Services Inc. – slide 25
    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…

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