Patterson-UTI Energy, Inc. Merger with Seventy Seven Energy Inc. December 13, 2016
Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not…
Transaction Terms Consideration Patterson-UTI will issue approximately 49.6 million shares of common stock subject to downward adjustment Patterson-UTI to repay all of Seventy Seven Energys outstanding debt at closing…
Transaction Terms Financing to repay Seventy Seven Energy Debt 500 million available under Patterson-UTI line of credit 150 million unsecured bridge financing commitment Patterson-UTI expects to issue additional equity to maintain…
Significant Opportunities for Synergies Patterson-UTI expects to achieve synergies in excess of 50 million Cost synergies are primarily related to organizational, supply chain, and corporate efficiencies Synergies also related to…
Patterson-UTI Energy is a leading provider of contract drilling and pressure pumping services 8
Patterson-UTI Drilling High quality fleet of land drilling rigs including 161 APEX rigs Leader in walking rig technology for pad drilling applications Large footprint across North American drilling markets Components of…
Seventy Seven Energy Drilling High quality fleet of land drilling rigs including 40 high-spec drilling rigs of which 28 are fit-for-purpose PeakeRigs 93% of high-spec rigs are pad capable Attractive position in the Scoop/Stack…
High-Spec Drilling Rigs Combined High-Spec Rig Fleet Rigs % Pad Capable From Patterson-UTI Drilling APEX-XK 1500 56 91% APEX Walking 49 100% APEX 1500 45 24% APEX 1000 11 73% Total 161 74% From Seventy Seven Energy Drilling…
Large Geographic Footprint Revenue Generating Rig Count by Region as of December 12, 2016 Canada PTEN: 2 Rigs North Dakota PTEN: 6 Rigs Rockies PTEN: 7 Rigs Appalachia 77: 3 Rigs PTEN: 15 Rigs Mid-Continent 77: 13 Rigs…
Drilling Technologies Designs, manufactures and services high-spec rig components with a recent focus on top drive technology Enhances the Patterson-UTI technology portfolio and engineering capabilities A highly talented…
Patterson-UTI Pressure Pumping High quality fleet of modern pressure pumping equipment Strong reputation for regional knowledge and efficient operations Concentrated footprint provides economies of scale Components of Revenue…
Seventy Seven Energy Pressure Pumping High pressure fleet with approximately 500,000 horsepower 90% of fleet has been added in the past 5-years High quality facilities and rail transload access Components of Revenue…
Modern Pressure Pumping Fleet Combined Pressure Pumping Fleet % % Horsepower % Quintuplex Modern Triplex Legacy Triplex Patterson-UTI 1,015,800 80% 13% 7% Seventy Seven Energy 500,000 75% 25% 0% Total Combined 1,515,800 79% 17%…
Seventy Seven Energy Oilfield Rentals A new product line for Patterson-UTI Diverse line of equipment and onsite services to complement drilling and pressure pumping Rental model creates opportunity for attractive returns in an…
Patterson-UTI Total Liquidity 37 million cash as of September 30, 2016 500 million revolver through September 27, 2017 358 million of revolver extended through March 27, 2019 Subject to a borrowing base comprised of eligible cash,…
Strategy To Deliver Shareholder Value Greater size and scale and improved market positioning Highly marketable drilling and pressure pumping fleets for increased market presence Strong balance sheet and liquidity Material…
Patterson-UTI Energy, Inc. Merger with Seventy Seven Energy December 13, 2016
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