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Annual General Meeting – Calfrac Well Services Ltd.

Calfrac Well Services Ltd. · May 9, 2017 · 19 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. Annual General Meeting – Calfrac Well Services Ltd. – slide 1
    ANNUAL GENERAL MEETING 09 May 2017 Calgary Petroleum Club Fernando Aguilar, President and Chief Executive Officer
  2. Annual General Meeting – Calfrac Well Services Ltd. – slide 2
    Company Snapshot TSX Stock Symbol: CFW Share Price* 3.34 30-Day Average Volume* 800,000 Market Capitalization* 458.1 million Enterprise Value* 1,357 million Shares Outstanding* 136.7 million Insider Ownership 25% * As at…
  3. Annual General Meeting – Calfrac Well Services Ltd. – slide 3
    Full Service Pressure Pumping As at March 31, 2017 Canada Fleet: 392,000 HHP 207,000 HHP Active 13 CT Units 8 Active U.S. Fleet: 627,000 HHP 319,000 HHP Active Russia Fleet: Cementing 11 Units Idle 70,000 HHP CT 5 Units…
  4. Annual General Meeting – Calfrac Well Services Ltd. – slide 4
    Active Rig Counts: North America & International 2,000 700 Number of Active WCSB Land Rigs 1,800 1,600 600 1,400 500 Number of Rigs 1,200 400 1,000 800 300 600 200 400 200 100 0 Sep14 Jan15 May15 Sep15 Jan16 May16…
  5. Annual General Meeting – Calfrac Well Services Ltd. – slide 5
    Margin Trend Reversal Underway CFW Q1 Result 2017 Source: Company Reports, Morgan Stanley Calfrac Well Services Ltd. 6
  6. Annual General Meeting – Calfrac Well Services Ltd. – slide 6
    Pumping Intensity Could Sell Out Lower 48 Market 2014 2017 - 1,800 rigs - 800 rigs 1,000 5,000 tons/well 4,000 6,000 tons/well - 3 rigs / spread - Per well metrics growing - 2 rigs/ spread - 600 spreads required - Sand & Fluid -…
  7. Annual General Meeting – Calfrac Well Services Ltd. – slide 7
    U.S. Intensity Continues To Increase Proppant Tonnage per Well (U.S. Land) 8,000 7,000 6,000 Permian 5,000 Eagle Ford 4,000 Midcon Bakken 3,000 Marcellus/Utica 2,000 Niobrara 1,000 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16…
  8. Annual General Meeting – Calfrac Well Services Ltd. – slide 8
    Canadian Intensity Following US Trends 2.5 Proppant use per well more than double 2013 level 2.0 1.5 Well count recovery (2016 +40%) implies fracturing demand in line with 2014 1.0 WCSB Fleet 10% smaller than 2014…
  9. Annual General Meeting – Calfrac Well Services Ltd. – slide 9
    2016: THE YEAR IN REVIEW Calfrac Well Services Ltd. 10
  10. Annual General Meeting – Calfrac Well Services Ltd. – slide 10
    2016 Financial Results (C millions except per share amounts) Income Statement For the Years Ended December 31 2016 2015 % Change Revenue 734.5 1,495 (51) Adjusted EBITDA (1) (44.8) 52.1 NM Net Income (attributable to shareholders…
  11. Annual General Meeting – Calfrac Well Services Ltd. – slide 11
    2017: MANAGING THE RECOVERY Calfrac Well Services Ltd. 12
  12. Annual General Meeting – Calfrac Well Services Ltd. – slide 12
    Managing The Recovery - Equipment Equipment reactivations progressing Costs meeting expectations (2 million per spread) Coil Tubing reactivations in Canada to support increased fracturing demand Q2/16 Q3/16 Q4/16 Q1/17 Increase…
  13. Annual General Meeting – Calfrac Well Services Ltd. – slide 13
    Managing The Recovery People Field Staff Recruiting Target to hire over 1000 field personnel across North America (Q3/16 baseline) WCSB local market essentially at full employment Safety and operating competency focus for new…
  14. Annual General Meeting – Calfrac Well Services Ltd. – slide 14
    Managing The Recovery Supply Chain In-House logistics capability Calfrac can manage delivery of 90% of Canadian sand/chemicals, 50% in U.S. operations Long-term leases on rail cars, agreement on rail freight cost Exclusivity at…
  15. Annual General Meeting – Calfrac Well Services Ltd. – slide 15
    Managing The Recovery Technology Maintain investment in technology Have generated 47 new products in 2015-2017 Research continues in all applications Increasing focus on equipment Intensity increases continue across North…
  16. Annual General Meeting – Calfrac Well Services Ltd. – slide 16
    Managing The Recovery Finance Reactivation costs are consistent with forecasts Costs driven by previous decisions Park in working condition or park at failure Less than 2 million for a small (20,000 HHP) fracturing fleet Up to 3…
  17. Annual General Meeting – Calfrac Well Services Ltd. – slide 17
    The Balance Sheet Term Debt US600 million with an interest rate of 7.5% Matures in 2020 Second Lien Term Loan 200 million with an interest rate of 9.0% Matures in 2020 Credit Facilities Loan facility 300 million (largely…
  18. Annual General Meeting – Calfrac Well Services Ltd. – slide 18
    Our License to Operate HSE Plan Do Assess Adjust QUALITY Monitor Refine Execute Improve TECHNOLOGY Research Develop Test Refine SUPPLY CHAIN Evaluate Negotiate Finalize Implement Calfrac employee on a Canadian hydraulic…
  19. Annual General Meeting – Calfrac Well Services Ltd. – slide 19
    Please join us for a reception following the meeting THANK YOU

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