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The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc.

Independence Contract Drilling, Inc. · Aug 14, 2017 · 17 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 – Independence Contract Drilling, Inc. – slide 1
    The Enercom Oil & Gas Conference August 14, 2017 www.icdrilling.com
  2. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 2
    Corporate Snapshot Sectors only pure play, pad-optimal growth story Current Operational Footprint Fleet composed of fourteen 200 Series ShaleDriller rigs: Oklahoma Arkansas 100% of fleet contracted and operating New Mexico Two…
  3. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 3
    High-Quality Customer Base ICD Customers Include Some of the Highest Quality, ICD has established a deep and high-quality Most Active Players in ICD Target Markets customer base composed of some of the most Company Pioneer Natural…
  4. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 4
    Financial Flexibility ICD backlog expanding, with contract tenors and dayrates increasing for all contracts signed since Financial Flexibility and Liquidity 12/31/16 MM Cash 6/30/17 5.5 As of 6/30/17: ICD remaining capital budget…
  5. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 5
    Land Drilling Overview As E&P operators continue shifting towards a wellbore manufacturing model, they focus on the safest operations and rigs that consistently eliminate non-productive time and drive operating efficiencies…
  6. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 6
    Key Differentiators Driving ICDs Compelling Value Proposition ICD does not work at the margin: pad-optimal equipment essential for development of core E&P acreage in lower commodity price environment Systems flexibility to partner…
  7. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 7
    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…
  8. The Enercom Oil and Gas 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 6.0 The industrys unconventional resource Cutting only 39 days off a…
  9. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 9
    What does the future hold 50 oil long term Peak rig count but high grading within Evolutionary changes in equipment specifications Full data integration / systems optimization End of the dayrate model shift towards risk- sharing,…
  10. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 10
  11. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 11
    Balance Sheet June 30, 2017 June 30, 2017 December 31, 2016 Assets Cash and cash equivalents 5,465 7,071 Accounts receivable, net 12,946 11,468 Inventories 2,407 2,336 Assets held for sale 6,388 3,915 Prepaid expenses and other current…
  12. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 12
    Income Statement Q217 Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Revenues 21,285 15,155 20,236 41,521 37,610 Costs and expenses Operating costs 15,808 7,398 14,898 30,706 19,965…
  13. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 13
    Non-GAAP Financial Measures Adjusted net loss, EBITDA and adjusted EBITDA are supplemental non-GAAP financial measure that are used by management and external users of our financial statements, such as industry analysts, investors,…
  14. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 14
    Non-GAAP Financial Measures Reconciliation of Net Loss to Adjusted Net Loss: (Unaudited) (Unaudited) Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 March 31, 2017 June 30, 2017 June 30, 2016 Per Per Per Per Per…
  15. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 15
    Non-GAAP Financial Measures (1) In the second quarter of 2017, we recorded a 0.5 million, or 0.02 per share, non-cash impairment reflecting the estimated loss from the expected sale of our Galayda facility. In the first quarter of 2017,…
  16. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 16
    Non-GAAP Financial Measures Three Months Ended Six Months Ended June 30, 2017 June 30, 2016 March 31, 2017 June 30, 2017 June 30, 2016 Number of completed rigs end of period 14 14 14 14 14 Rig operating days (1) 1,111.2 732.2 1,072.9…
  17. The Enercom Oil and Gas Conference – Independence Contract Drilling, Inc. – slide 17
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