Barclays CEO Energy-Power Conference September 9, 2015
Agenda 2015 Outlook Superior Overview Operational Platform Financial Position
2015 Outlook Second half 2015 playbook Build cash, maintain liquidity, be patient Improve cost structure Respond quickly to changes in marketplace Maintain operating leverage How long will this last Overcapitalized, fragmented…
Diversified Service Provider SPN Is The Only Mid-Sized, Diversified Service Provider Fifth largest diversified oil field services company Product lines deployed across U.S. Land, Gulf of Mexico and International markets 2015…
Products & Services Onshore Completion Drilling Products Production Services Technical Solutions & Workover Services Accommodations Horizontal Well Fracturing Coiled Tubing Pressure Control Services Completion Tools & Premium…
Our Approach Product / Service Line Suitability Is it exportable Do we have an execution advantage Can it generate acceptable returns If yes, expandif no, limit capex and explore alternatives Capital Deployment Pursue organic…
International Expansion A focused, disciplined approach to international expansion HOT LEGACY CORE SPOTS HOT North Sea Argentina Ghana SPOTS Europe Brazil Angola Risk Mexico Colombia Nigeria Trinidad Australia Thailand…
International Expansion International Revenue Growth (Core Product Lines) 300 248M 250 Completion Tools & International Revenue (millions) Services 200 Pumping Services 150 71% CAGR Intervention Services 100 50…
U.S. Land Markets Near-TermOutlook Near-Term Outlook KeyStrategies Key Strategies Respond to market Respond withwith to market costcost reductions reductions Pricing: Different tactics in different product Pricing: Different…
Integration Opportunities Onshore Completion Drilling Products Production Services Technical Solutions & Workover Services Pressure Control Accommodations Horizontal Well Fracturing Coiled Tubing Services Completion Tools &…
Gulf of Mexico Near-Term Outlook Right Size shelf-related businesses Flat deep-water market for drilling products and completions through 2015 Transfer assets to international opportunities Key Strategies Maintain drilling…
Financial Focus Spend what can be managed efficiently Maintain Investment Grade leverage metrics Pursue investments that advance core strategy of geographic expansion Methodical and conservative approach to growth investment in…
Capitalization ( in Millions) 6/30/2015 12/31/2014 12/31/2010 Cash 500 393 51 Bank Borrowings - - 175 6 7/8% Sr Notes due 2014 - - 300 1.5% Notes due 2011 - - 400 6 3/8% Sr Notes due 2019 500 500 - 7 1/8% SR Notes due 2021 800 800…
Balance Sheet Strength Liquidity Flexibility 1.1 billion as of 6/30/15 2015 Capital Expenditures reduced 35% from 2014 levels Cash on hand 500 million as of 6/30/15 Low levels of maintenance capital required Undrawn revolving credit…
Well Positioned Prepared for extended market downturn Diversified geographically and across product lines Targeted organic growth and acquisition strategies Demonstrated execution of international growth Strong financial…
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