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Johnson Rice Energy Conference – Oil States International Inc.

Oil States International Inc. · Sep 29, 2015 · 28 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 Energy Conference – Oil States International Inc. – slide 1
    Presentation for the Johnson Rice Energy Conference September 29, 2015
  2. Johnson Rice Energy Conference – Oil States International Inc. – slide 2
    Company Overview Technology focused, pure-play energy services company o Strong balance sheet position o Creating long-term shareholder value through strategic growth and returns on invested capital Two business segments o…
  3. Johnson Rice Energy Conference – Oil States International Inc. – slide 3
    Oil States Today Consists of Offshore Products and Well Site Services Focused on delivering technology and solutions to the deepwater capital equipment and North American shale play markets Segment Contributions For Trailing Twelve…
  4. Johnson Rice Energy Conference – Oil States International Inc. – slide 4
    Strong History of Growth EBITDA (1), (4) (U.S. dollars in millions) 600 500 282 400 241 202 232 300 203 222 200 208 114 175 149 48 100 107 92 72 0 2009 2010 2011 2012 (2) 2013 2014 TTM (3) Offshore…
  5. Johnson Rice Energy Conference – Oil States International Inc. – slide 5
    Update on Strategic Focus Areas and Outlook Offshore Products segment o Backlog level at June 30, 2015 (409 million) o Current market demand favors our proprietary products for production development infrastructure tied to deepwater…
  6. Johnson Rice Energy Conference – Oil States International Inc. – slide 6
    Offshore Products Segment
  7. Johnson Rice Energy Conference – Oil States International Inc. – slide 7
    Driven by Worldwide Deepwater Capital Spending Floating Production Facilities (FPSOs, TLPs and Spars) o Steel catenary riser connectors and receptacles o TLP tendon connectors o Riser tensioning equipment o Welding technology,…
  8. Johnson Rice Energy Conference – Oil States International Inc. – slide 8
    Global Breadth of Operations Aberdeen, Scotland Arlington, TX USA West Lothian, Scotland Lampasas, TX USA Barrow, England Houston, TX USA OKC, OK USA Baku, Azerbaijan Tulsa, OK USA Marseille, France Houma, LA USA Houston, TX USA…
  9. Johnson Rice Energy Conference – Oil States International Inc. – slide 9
    Outlook- Potential Content Opportunities Floating Production System (FPS) spending for 2015 to 2018 forecasted to total 56 billion (flat compared to prior December 2014 forecast) as project economics being reassessed due to weaker…
  10. Johnson Rice Energy Conference – Oil States International Inc. – slide 10
    FPSO and Subsea Tieback Content Steel Catenary Riser (SCR) Free Standing Hybrid Riser (FSHR) Deck Equipment Subsea FlexJoints Upper Riser Assembly Cranes Spread Mooring Systems Receptacles Bend Stiffeners Mooring Winches…
  11. Johnson Rice Energy Conference – Oil States International Inc. – slide 11
    Historical Backlog and Bookings Trends (U.S. dollars in millions) 700 1,100 1,000 600 900 500 800 700 Backlog & Bookings 400 600 LTM Revenue 500 300 400 200 300 200 100 100 0 0 1Q'08 1Q'09…
  12. Johnson Rice Energy Conference – Oil States International Inc. – slide 12
    Offshore Products Select Major Backlog Awards (June 13 June 15) Major backlog awards over the past 24 months that are over 10 million No large project awards were received in 2Q15 Customer Market Product Line Products Heerema Angola…
  13. Johnson Rice Energy Conference – Oil States International Inc. – slide 13
    Offshore Products 2015 Outlook Current backlog and exposure to deepwater production infrastructure development projects has mitigated some of the commodity price volatility as these deepwater projects are generally longer-term in…
  14. Johnson Rice Energy Conference – Oil States International Inc. – slide 14
    Well Site Services
  15. Johnson Rice Energy Conference – Oil States International Inc. – slide 15
    Well Site Services Drilling Completion Services Wireline/ Frac/Pressure Well Drilling Coiled Tubing Pumping Flowback Testing Support Support Proprietary, technology driven, HPHT equipment which is well suited Own and operate 34…
  16. Johnson Rice Energy Conference – Oil States International Inc. – slide 16
    Oil States Completion Services Offering Frac Stacks Sand Control Frac Valves Manifolds Isolation Tools Wash Pipe Tool Baskets Ball Catchers Sand Knockout Units Casing Isolation Tools Thru Tubing Handling Equipment Frac Heads BOPs…
  17. Johnson Rice Energy Conference – Oil States International Inc. – slide 17
    Broad North American Coverage = OSES Location Region Locations Northeast 4 Mid-Con 6 TexLa 6 S. Texas, Permian 9 Gulf Coast 7 Rockies 7 Manufacturing 2 Corporate 1 Total 42 18
  18. Johnson Rice Energy Conference – Oil States International Inc. – slide 18
    Complex Completions Driving U.S. Spending and Activity Complex shale well completions, drilling rig efficiency and pad drilling characterize U.S. drilling and completion activity With our market presence in all major U.S. shale plays…
  19. Johnson Rice Energy Conference – Oil States International Inc. – slide 19
    Completion Services Margin Performance With a broad market presence across all major U.S. shale plays, coupled with a focus on high-end proprietary technology, our completion services business is holding up decently compared to other…
  20. Johnson Rice Energy Conference – Oil States International Inc. – slide 20
    U.S. Drilling and Completions Outlook The precipitous drop in oil prices has resulted in dramatically decreased drilling and completions activity in 2015 compared to 2014 Certain customers have elected to drill, but not complete wells…
  21. Johnson Rice Energy Conference – Oil States International Inc. – slide 21
    Conclusions
  22. Johnson Rice Energy Conference – Oil States International Inc. – slide 22
    Current Market Conditions North American rig count as of September 25, 2015 (per Baker Hughes) o 838 total U.S. rigs (57% below peak of 1,931 rigs in September 2014) 640 rigs drilling for oil compared to peak oil rig count of 1,609 in…
  23. Johnson Rice Energy Conference – Oil States International Inc. – slide 23
    Key Drivers of Profitability Offshore Products o Backlog at June 30, 2015 totaled 409 million o Select deepwater developments moving forward, but project delays are ongoing o Continuing with our international manufacturing capacity…
  24. Johnson Rice Energy Conference – Oil States International Inc. – slide 24
    Oil States Transformed into a technology-focused, pure-play oilfield services company o Offshore Products: deepwater capital equipment o Well Site Services: complex shale play development Quality customer base Strong balance sheet…
  25. Johnson Rice Energy Conference – Oil States International Inc. – slide 25
    Appendix
  26. Johnson Rice Energy Conference – Oil States International Inc. – slide 26
    Strong Financial Position (USD in millions, except percentages and ratios) 6/30/2015 Actual Working Capital 469.9 Current Debt 0.5 Revolving Credit Facility (Matures May 2019) 150.9 Other Debt 5.9 Total Debt 157.4 Shareholders'…
  27. Johnson Rice Energy Conference – Oil States International Inc. – slide 27
    Non-GAAP Reconciliation (US dollars in millions) For The Year Ending December 31, For the Three Months Ending, LTM 2010 2011 2012 2013 2014 9/30/14 12/31/14 3/31/15 6/30/15 6/30/15 Well Site Services Net Income (Loss) 23 80 94 80…
  28. Johnson Rice Energy Conference – Oil States International Inc. – slide 28
    Non-GAAP Reconciliation (US dollars in millions) For the Three Months Ending, LTM 9/30/14 12/31/14 3/31/15 6/30/15 6/30/15 Oil States International, Inc. Net Income (Loss) 58 58 19 6 142 Income Tax Provision (Benefit) 32 33 13 1…

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