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2014 NAPTP MLP – Csi Compressco L.P.

Csi Compressco L.P. · May 1, 2014 · 25 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. 2014 NAPTP MLP – Csi Compressco L.P. – slide 1
    2014 NAPTP MLP Investor Conference Overview Presentation May 2014 1
  2. 2014 NAPTP MLP – Csi Compressco L.P. – slide 2
    Compressco Partners Non-GAAP Financial Measures Non-GAAP Financial Measures Compressco Partners (the Partnership) includes in this presentation the non-GAAP financial measures EBITDA, enterprise value, distributable cash flow and…
  3. 2014 NAPTP MLP – Csi Compressco L.P. – slide 3
    Why you should be interested in Compressco Partners Revenue (1) ( millions) EBITDA(2) ( millions) and Margin 175 60 36% 40% 150 33% 133 30% 50 28% 29% 121 125 109 30% 40 44 95 100 81 30 35 20% 75 29 33 20 27 50 10% 10…
  4. 2014 NAPTP MLP – Csi Compressco L.P. – slide 4
    Partnership Overview and Profile of Compressco Partners Compressco Partners, L.P. is a publicly GasJack Package traded master limited partnership (NASDAQ: GSJK). General Partner is 100% owned by TETRA Technologies, Inc. NYSE: TTI…
  5. 2014 NAPTP MLP – Csi Compressco L.P. – slide 5
    Partnership Overview Continued Conventional applications: SuperJack Compressor Package production enhancement for dry gas wells and liquid loaded wells and backside auto injection systems (BAIS) Unconventional applications: Vapor…
  6. 2014 NAPTP MLP – Csi Compressco L.P. – slide 6
    Vertically Integrated Competitive Differentiators Compressco is a Vertically Integrated Provider of Compressor Services Compresscos centralized engineering and compressor monitoring functions support a Compresscos Comprehensive…
  7. 2014 NAPTP MLP – Csi Compressco L.P. – slide 7
    Growth Strategy Across Service Offerings Qtr. Ended Baseline Year Ended December 31, March 31, 2011 2012 2013 2014 Total Compressor packages in fleet (at period end) 3,653 3,743 3,995 4,054 Total Compressor packages in service (at…
  8. 2014 NAPTP MLP – Csi Compressco L.P. – slide 8
    Growth Strategy - Key Market Drivers Increasing shale natural gas and oil components of total United States natural gas and oil production, and increasing related condensate and processing-plant liquids in shale plays in addition to…
  9. 2014 NAPTP MLP – Csi Compressco L.P. – slide 9
    Growing Domestic Footprint Compresscos US and Canada service area includes most onshore producing regions Service Area As Depicted by ePumper SCADA Telemetry-Based Reporting System Compressco is active in most major producing…
  10. 2014 NAPTP MLP – Csi Compressco L.P. – slide 10
    Growing International Presence International Operations and Installations 11
  11. 2014 NAPTP MLP – Csi Compressco L.P. – slide 11
    Our Proven Technology Increases Value of Natural Gas & Oil Wells Compresscos production enhancement services improve production rates and recoverable reserves of natural gas and oil wells Case Insert Study: Well Decline Curve, Pre and…
  12. 2014 NAPTP MLP – Csi Compressco L.P. – slide 12
    Conventional Service Marginal Gas Well Case Study After installation of the GasJack, daily Gas Rate went from 30 Mcf/d to 70 Mcf/d, maintaining an average daily rate of 188 Mcf/d over 22 months. Calculated incremental reserves…
  13. 2014 NAPTP MLP – Csi Compressco L.P. – slide 13
    Unconventional Services Flash Tower Vapor Recovery Gas to Flash Gas 1 PSIG Booster Compressor Minute Gas in Tanks (no oxygen in tower) Heater Treater Oil Very Rich Gas (totanks) 1800 BTU/cu. ft. Oil (to tower) From Oil…
  14. 2014 NAPTP MLP – Csi Compressco L.P. – slide 14
    Unconventional Services Casing Gas System Case Study With the GasJack reducing the casing pressure from 100psig to 60psig, the Gas Rate went from 200 Mcf/d to 800 Mcf/d and the Oil Rate went from 80 bopd to 150 bopd. 15
  15. 2014 NAPTP MLP – Csi Compressco L.P. – slide 15
    Unconventional Services High Pressure Gas-Lift Gas SuperJack Compressor Package Controller Oil / Gas Gas Inlet Ps = 50 psiG Pd = 1000 psiQ Tubing QInj = 500 MCFD Gas Lift Valve Casing Packer 16 Confidential
  16. 2014 NAPTP MLP – Csi Compressco L.P. – slide 16
    Investment Highlights 17
  17. 2014 NAPTP MLP – Csi Compressco L.P. – slide 17
    Compressco Partners as an Investment Opportunity Stock Market / Symbol NASDAQ: GSJK Recent Unit Price(1) 24.80 Market Capitalization(1) 385.7M Enterprise Value(1) (3) 405.3M Number of 15.6M Units Outstanding Average daily…
  18. 2014 NAPTP MLP – Csi Compressco L.P. – slide 18
    GSJK Unit Price and Distributions 35 2.00 30 1.90 Price per GSJK Unit 25 1.80 20 Distributions Unit Price 1.70 15 1.60 10 Distribution Growth 1.50 5 0 1.40 01-12* 04-12* 07-12* 10-12* 01-13*…
  19. 2014 NAPTP MLP – Csi Compressco L.P. – slide 19
    Compressor Packages in Fleet and Average Quarterly Utilization Downturn in Mexican activity 20
  20. 2014 NAPTP MLP – Csi Compressco L.P. – slide 20
    Compressco Partners Investment Highlights Expanding geographic footprint and customer base Expanding service offerings Just under 7x growth in VJack units (small hp electric) Rapidly growing 3-stage compression in the adjacent…
  21. 2014 NAPTP MLP – Csi Compressco L.P. – slide 21
    Appendix Slides 22
  22. 2014 NAPTP MLP – Csi Compressco L.P. – slide 22
    Financial Data Current to Prior Year Quarter Results Results of operations (unaudited) Three Months Ended Q1 2014 Q4 2013 Q3 2013 Q2 2013 Q1 2013 (In Thousands) Revenues Compression and other services 27,927 28,067 28,408 26,783…
  23. 2014 NAPTP MLP – Csi Compressco L.P. – slide 23
    Financial Data Appendix Distributable Cash Flow & Distribution Coverage Ratio The following table reconciles net income to distributable cash flow and distribution coverage ratio for the current and prior year three month period…
  24. 2014 NAPTP MLP – Csi Compressco L.P. – slide 24
    Financial Data Appendix EBITDA Reconciliation and Enterprise Value Calculation The following table reconciles net income to EBITDA for the twelve month periods ended December 31, 2013 2012, and 2011(1): Twelve Months Ended December…
  25. 2014 NAPTP MLP – Csi Compressco L.P. – slide 25
    Appendix: Compressco Partners Ownership Structure TETRA Technologies, Inc. and its Subsidiaries TETRA International Compressco, Inc. Incorporated Public and its Subsidiaries Unitholders and its Subsidiaries 9.5% Limited…

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