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The Enercom Oil and Gas Conference – Key Energy Services Inc.

Key Energy Services Inc. · Aug 16, 2017 · 22 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. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 1
    EnerCom Oil & Gas Conference August 16, 2017 Marshall Dodson Senior Vice President & Chief Financial Officer
  2. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 2
    A New Key Financial 250 million of long-term debt 1 billion of long-term debt Restructuring NYSE re-listing under KEG OTCPink traded after de-listing Equity Re-listing ticker symbol from NYSE U.S.-focused production Operating…
  3. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 3
    Company Overview 4
  4. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 4
    Strategic Focus Production Services + Recurring production- Drilling & Completion services business model focused on existing producing wells Service Activity + Robust inventory of existing oil wells in the Lower 48 Well…
  5. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 5
    Key Service Offering Overview Drilling & Completion Production Plug & Abandonment Rig Services Heavy workovers Horizontal well completions Repair & maintenance Rig services Specialty fit-for-purpose drilling Re-completions…
  6. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 6
    Service Line and Geographic Exposure 2016 Revenue by Service - 417.2 million + Production-driven services revenue comprises 80% 4% 14% of YTD 2016 revenue 8% + Completion-driven services 55% exposure in all service lines 19%…
  7. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 7
    Fleet Overview and Status Well Services Rig Fleet Fluids Truck Fleet Coiled Tubing Fleet Total Rig Fleet Total Truck Fleet Total Coiled Tubing Fleet 13 42 38 95 86 Class I Vacuum 13 62 Class II Winch < 2 20 364 Class III Hot Oil…
  8. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 8
    Impact of Structural Changes (figures in USD millions) As-Reported Business & Pro-Forma + Company-wide Year-end Organizational Year-end operational, 2014 Adjustments 2014 organizational and Revenue (1) 1,427.3 (165.4) 1,261.9…
  9. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 9
    Market and Service Demand Overview 10
  10. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 10
    Market Opportunity Overview 3,500 Implied Working Rig Count increase of 130% 3,360 + Multiple growth drivers 64 55 oil and 186% 75 oil identified moving forward 3,000 561 2,701 64 Conventional Well 2,500 387 561 Services Demand…
  11. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 11
    Commodity Recovery to Drive Conventional Demand Expansion + Oil price directly drives 300,000 Implied Rig Demand 2,500 increase of 35% 55 oil demand for well and 66% 75 oil 2,204 services 250,000 Implied Well Service Rig…
  12. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 12
    Demand Normalization Provides Significant Activity Uplift + Stable relationship 3,000 160% historically between 2012-2014 Average AESC Working Rigs Current AESC Working Rigs 140% 2,500 working rigs and implied as a % of Rig Demand…
  13. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 13
    Increased Deferred Maintenance Driving Demand Backlog Deferred maintenance oil well population increased from 0 to 45,000 since January 2015 50,000 120% + Key believes a significant drop in 45,000 100% working rigs relative to…
  14. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 14
    The Evidence Can Be Seen in NAM Production 1.5 + As operators have Down 38% reduced the working Consistent decline rate offset by since 2014 Average Daily Production (bbls/day in millions) well service rig count recurring well…
  15. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 15
    Aging Horizontal Oil Well Backlog Provides New, Secular Tailwind + Proliferation of HZ oil 120,000 700 642 wells has created a new 600 100,000 561 class of well service 65k HZ wells to entering well maintenance candidates phase…
  16. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 16
    Multi-Purpose Assets Benefit from Completions Activity + Majority of work 1,600 performed by well 1,400 Completions-focused Well Service Rig service rigs is Count increase of 64 rigs Forecast 1,200 production-focused, Well…
  17. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 17
    Multiple Drivers for Significant Demand Growth 3,500 Implied Working Rig Count increase of 130% 3,360 + Commodity price recovery 64 55 oil and 186% 75 oil drives nominal market 3,000 561 growth 2,701 64 2,500 387 + Normalization…
  18. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 18
    Final Thoughts + Well positioned for future growth through exposure to secular growth and cyclical recovery Growing population of aging horizontal wells to provide new, incremental demand for production services Recovery in oil…
  19. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 19
    Appendix 20
  20. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 20
    Production Services Wellsite Presence + Fluid Pumps + Well Service Rigs + Specialty Rental Equipment + BOP / Well Control + Tubulars + Fishing Tools + Hydraulic Rod / + Rods Pipe Handling Systems + Rig-Assist Snubbing + Handling…
  21. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 21
    Conventional Vertical Well Services Opportunity An increase from 40 oil to 55 oil results in a 35% increase in the U.S. population of Economic oil wells 48% Increase 10,358 15,366 32% Increase 40 Oil 55 Oil 55% Increase…
  22. The Enercom Oil and Gas Conference – Key Energy Services Inc. – slide 22
    Compelling Returns via Maintenance of Existing Oil Wells 500 + Existing installed base of Economic oil wells 450 provide a highly- 400 attractive return 350 Payback Period (days) opportunity in nearly all 300 production and…

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