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UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp.

Pioneer Energy Services Corp. · May 21, 2014 · 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. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 1
    UBS OIL AND GAS CONFERENCE May 21st, 2014
  2. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 2
    Pioneer Energy Services TICKER SYMBOL: PES (NYSE) TTM REVENUE1: 970 MILLION MARKET CAPITALIZATION2: 905 MILLION ENTERPRISE VALUE2: 1.4 BILLION SERVICE LINES: LAND DRILLING, WELL SERVICING, WIRELINE, COILED TUBING EMPLOYEES:…
  3. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 3
    Diversified Services % of TTM REVENUE1 PRODUCTION SERVICES Well Servicing 112 Rigs Wireline 120 Units Coiled Tubing 14 Units Drilling - US Production 42% Services 47% DRILLING SERVICES Drilling Services - US 54 Rigs…
  4. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 4
    Recent Updates Consolidated As of May 1st, completed the previously announced redemption of 300MM of 9.875% Senior Notes due 2018 Drilling Services Executed one new-build drilling rig contract for delivery in the second quarter of…
  5. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 5
    Investment Considerations Summary Exposure to the full well life cycle including drilling, completions, workovers and on-going well maintenance Approximately 60% of US revenue1 attributable to three key U.S. markets: Bakken shale,…
  6. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 6
    Exposure to the Full Well Life Cycle Drilling Toe Prep Plug and Perforate 7 Drill Out Plugs Complete and Maintenance until Install Artificial Lift Plug and Abandon
  7. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 7
    Leverage to Three Key U.S. Markets (Approximately 60% of TTM US Revenue) BAKKEN1 Drilling Production Services Services 52% 48% Production PERMIAN1 Services 10% Drilling Services 90% EAGLE FORD1 Drilling Production…
  8. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 8
    Accretive Organic Growth Opportunities Adding nine well servicing rigs, three wireline units and three coiled tubing units in 2014 Executed one new-build drilling rig contract for delivery in 2015 COILED TUBING WELL SERVICING 16…
  9. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 9
    PRODUCTION SERVICES 10
  10. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 10
    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…
  11. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 11
    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…
  12. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 12
    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 1.25 to 2.375 coiled tubing…
  13. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 13
    DRILLING SERVICES 14
  14. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 14
    Drilling Services SERVICE OVERVIEW OPERATING LOCATIONS Over 70% of US drilling revenue1 is generated in the Bakken, Eagle Ford, and Permian 74%2 of rigs are capable of drilling horizontally in the unconventional plays Pioneer…
  15. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 15
    Top-Tier Safety Among the 15 largest land contract drillers in the United States, Pioneer Energy Services was the safest in 2011, and 2nd safest in 2012 as reported through the IADC Total Recordable Incident Rate Total Recordable…
  16. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 16
    Pioneer Drilling Rig Class Comparison Vertical Horizontal Top Drive Mechanical/Electric Electric Mechanical Number of Rigs 16 9 37 % of Fleet 26% 15% 60% AC/SCR 0/2 0/0 11/26 Drawworks 750-1,200HP 1,000-1,300HP 1,000-2,000HP…
  17. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 17
    18
  18. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 18
    Historical Financial Results REVENUE / ADJUSTED EBITDA ( millions) CAPEX SPEND ( millions) 1,125 400 364 1,000 960 956 919 350 875 300 750 716 250 625 210 200 487 500 165 150 131 375 326 115 249 235 253 100 250 191…
  19. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 19
    Liquidity and Capital Structure March 31st, 2014 As Adjusted for Senior Note ( millions) Actual Redemption Cash 20.8 20.8 Restricted Cash 210.4 0.0 Senior Secured Revolving Credit Facility due 2016 80.0 80.0 Senior Unsecured…
  20. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 20
    Reconciliation of Adjusted EBITDA to Net Income We define Adjusted EBITDA as earnings (loss) before interest income (expense), taxes, depreciation, amortization, impairments, and the Colombian Net Equity Tax. Although not prescribed…
  21. UBS OIL AND GAS CONFERENCE – Pioneer Energy Services Corp. – slide 21

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