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Johnson Rice Energy Conference – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · Sep 21, 2016 · 21 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 – Pioneer Energy Services Corp. – slide 1
    JOHNSON RICE & COMPANY 2016 ENERGY CONFERENCE September 2016
  2. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 2
    Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE1: 349 MILLION MARKET CAPITALIZATION2: 216 MILLION ENTERPRISE VALUE2: 596 MILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING EMPLOYEES:…
  3. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 3
    Diversified Services % of TTM REVENUE1 PRODUCTION SERVICES Well Servicing 125 Rigs Wireline 125 Units Coiled Tubing 17 Units Drilling - US 41% Production Services 56% DRILLING SERVICES Drilling Services - US 23 Rigs…
  4. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 4
    Fleet Composition COILED TUBING WELL SERVICING 17 17 125 116 108 109 13 13 89 10 74 6 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 WIRELINE DRILLING SERVICES1 120 119 120 125 71 69 64 62 105 53…
  5. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 5
    Recent Updates Drilling August quarter-to-date utilization was 36% Current utilization is 39% which does not include one rig currently mobilizing to Appalachia and one rig mobilizing in Colombia. Both rigs are expected to begin work…
  6. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 6
    Company Highlights Exposure to the full well life cycle including drilling, completions, workovers and on-going well maintenance Premium shale-oriented assets in all business lines with balanced exposure to completion and…
  7. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 7
    Exposure to the Full Well Life Cycle Drilling Toe Prep Plug and Perforate 8 Drill Out Plugs Complete and Maintenance until Install Artificial Lift Plug and Abandon
  8. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 8
    Premium Shale-Oriented Assets US DRILLING SERVICES PRODUCTION SERVICES Premium shale-capable equipment AC Rigs - US 70% 100% of well servicing fleet is 550-600hp with 104, 112 or 116 masts Full suite of coiled tubing offerings…
  9. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 9
    Balance Sheet and Cash Flow Management Amended the revolving credit facility in the second quarter of 2016 Minimum EBITDA covenant introduced from the fourth quarter of 2016 through the second quarter of 2017 Adjusted Senior Debt to…
  10. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 10
    Industry-Leading Safety For many years, Pioneer has been a leader safety. Our commitment to industry-leading safety helps us retain high-quality employees, broaden our client base, and reduce operating costs. Pioneer recognized by…
  11. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 11
    PRODUCTION SERVICES 12
  12. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 12
    Well Servicing SERVICE OVERVIEW OPERATING LOCATIONS Of the top-tier well servicing providers, Pioneer has the: Highest utilization rate Highest average hourly rate Highest average horsepower fleet with all rigs either 550hp or…
  13. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 13
    Wireline SERVICE OVERVIEW OPERATING LOCATIONS Leading market share position in a number of key geographic markets Majority of revenue derived from cased-hole operations that include perforating, logging, and pipe recovery…
  14. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 14
    Coiled Tubing SERVICE OVERVIEW OPERATING LOCATIONS Significant player in the offshore coiled tubing market Fleet currently provides an array of services with coil capabilities ranging from 1 1/4 to 2 5/8 coiled tubing…
  15. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 15
    DRILLING SERVICES 16
  16. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 16
    Drilling Services 1,500HP AC NEW-BUILD TECHNOLOGY OPERATING LOCATIONS Walks 150 in X-direction and 50 in Y-direction while racking over 24,000 of 5 drill pipe 2,000hp mud pumps and 7,500psi mud system Moves in less than three…
  17. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 17
    Pioneer Drilling Rig Class Comparison AC SCR Number of Rigs 16 15 Drawworks 1,200-2,000HP 1,000-1,500HP Pad-Capable 100% 87% Utilization %1 69% 0% RIG FLEET CHARACTERISTICS 94% 1,000HP 6% 52% 1,200-2,000HP 94%…
  18. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 18
    19
  19. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 19
    Historical Financial Results REVENUE / ADJUSTED EBITDA ( millions) CAPEX SPEND ( millions) 1,125 1,055 400 364 1,000 960 919 350 875 300 750 250 625 541 200 500 175 165 160 349 150 375 277 249 235 250 100 111…
  20. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 20
    Liquidity and Capital Structure June 30th, 2016 ( millions) Actual Cash 14.6 Senior Secured Revolving Credit Facility due 2019 95.0 6.125% Senior Unsecured Notes due 2022 300.0 Other1 (7.4) Total Debt 387.6 Shareholders' Equity…
  21. Johnson Rice Energy Conference – Pioneer Energy Services Corp. – slide 21
    Reconciliation of Adjusted EBITDA to Net Income We define Adjusted EBITDA as earnings (loss) before interest income (expense), taxes, depreciation, amortization, loss on extinguishment of debt, impairments, and the Colombian Net Equity…

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