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Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc.

Independence Contract Drilling, Inc. · Mar 22, 2016 · 16 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. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 1
    Scotia Howard Weil 2016 Energy Conference March 22, 2016 www.icdrilling.com
  2. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 2
    Overview Successfully Completed IPO in August 2014 (NYSE: ICD) Current Operational Footprint Best-in-Class 14 Rig Fleet Oklahoma New Mexico Arkansas Sectors most technologically advanced rigs Fleet composed of thirteen 200 Series…
  3. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 3
    Key Differentiators Driving ICDs Value Proposition ICD is a leader in the rig replacement cycle pad optimal rigs are critical in the progression of the U.S. unconventional drilling evolution With industry leading fleet utilization,…
  4. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 4
    Overview of Current U.S. Land Drilling Market Conditions While the U.S. land rig count is at historical U.S. Land Rig Count at Historical Lows lows, E&P operators remain laser-focused on efficient unconventional development RigData…
  5. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 5
    Market Conditions North American E&P operators developing unconventional shale resources have become the global swing producer To continue in prominence in this role, North American E&Ps must have the lowest cost operations in the…
  6. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 6
    Key Pad-Optimal Rig Characteristics (As Defined by E&P Operators) Allows rig to move in any direction quickly between wellheads, rapidly and efficiently adjusts to misaligned wellbores, walks over raised well heads and increases safety…
  7. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 7
    Dissecting the New Land Drilling Industry As E&P operators continue the shift towards a wellbore Land Drilling Industry AC Rig Fleet (1) manufacturing model, the focus will be squarely on the 750 Rigs rigs that consistently eliminate…
  8. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 8
    Examples of ICD Delivering Significant Value for E&P Operators Cutting Cycle Times - Illustrative Savings vs Legacy Rigs Case Study: Multi-Well Pad Drilling Program An operator drilling multi-well pads benefits from ICDs Cutting only…
  9. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 9
    By Saving Drilling Days, ICDs Rigs Drive Major Value Savings for E&P Operators ICD Rig Delivers Industry-Leading Cycle Times 11
  10. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 10
    ICD Initiatives Postponing all new build activities until market improves Postponing commencement of second rig conversion until market improves Since June 30, 2015: - Removed approximately 1.0 million from run rate SG&A costs.…
  11. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 11
    Operations Update Since filing of its Form 10-K on February 18, 2016: Successfully extended contracts on a multi-well basis into 2Q16 for two rigs operating in the spot market Received notification from two customers that they will…
  12. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 12
    ICD Financial Update Financial Update Financial Liquidity 12/31/15 millions 2016 Capital Expenditure Budget: 10 million. - Rig conversion in process Cash 12/31/15 5.3 - Maintenance capex - Planned 7500psi upgrade Plus: Adjusted…
  13. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 13
    Income Statement 18
  14. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 14
    Balance Sheet Although borrowings under our credit facility do not mature until 2018, we revised the classification of long-term debt in our balance sheet as of December 31, 2014 from long-term debt to current portion of long-term…
  15. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 15
    Operating Data (1) Number of completed rigs as of December 31, 2015, increased by three compared to the number of completed rigs as of December 31, 2014, reflecting the addition of three newly constructed rigs (2) Rig operating…
  16. Scotia Howard Weil 2016 Energy Conference – Independence Contract Drilling, Inc. – slide 16
    Non-GAAP Financial Measures Adjusted EBITDA is a supplemental non-GAAP financial measure that is used by management and external users of our financial statements, such as industry analysts, investors, lenders and rating agencies. We…

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