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4Q 2017 Earnings Presentation – Basic Energy Services Inc.

Basic Energy Services Inc. · Feb 27, 2018 · 12 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. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 1
    4Q 2017 Earnings Call February 27, 2018 1
  2. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 2
    Table of Contents 4Q17 Financial Recap Operational Highlights CapEx and Liquidity Completion & Remedial Services Well Services Water Logistics 4Q17 Takeaways 1H18 Outlook Non-GAAP Reconciliation 3 3
  3. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 3
    4Q 2017 Financial Recap (in millions) Three Months Ended 12/31/17 9/30/17 12/31/16 Revenue Completion & Remedial 122.0 123.7 59.2 Well Servicing 54.5 54.6 45.1 Water Logistics 55.5 52.3 48.8 Contract Drilling 3.3 2.8 2.4 235.3…
  4. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 4
    4Q 2017 Operational Highlights 4Q revenues were up 1% sequentially led by the cyclical recovery, offset by seasonality and decreased daylight hours C&R segment revenue down 1% sequentially despite the holiday slowdown impacting…
  5. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 5
    Operational Update 4Q17 3Q17 2Q17 1Q17 Well servicing rig hours 159,500 165,200 162,300 157,600 Well servicing utilization rate 53% 55% 54% 52% Number of well servicing rigs - end of period 421 421 421 421 Fluid services truck hours…
  6. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 6
    CapEx and Liquidity Capital expenditures (including capital leases) for 2017 totaled 138.3 million Maintenance/sustaining expenditures were 88.6 million Expansion projects and other totaled 49.8 million Purchased 74,000 hydraulic…
  7. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 7
    Balance Sheet and Liquidity millions 12/31/2017 9/30/2017 Cash and cash equivalents 39 43 Restricted Cash 48 48 100 million Revolver 64 64 Term Note Facility 163 163 Other debt and capital leases 88 92 Total debt 315 320…
  8. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 8
    Completion and Remedial Services Segment Revenue Breakdown Operational Highlights 4Q17 3Q17 2Q17 Seasonality and delayed jobs due to clients spent budgets impacted revenue late in 4Q Pumping 58% 59% 63% Coiled tubing utilization and…
  9. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 9
    Well Services Segment Analysis Operational Highlights 4Q17 3Q17 2Q17 Pro forma for cold-stacking of 111 rigs at end of year, 4Q17 utilization of the active fleet would have Rig Hours (000s) 159.5 165.2 162.3 totaled 72%.…
  10. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 10
    Water Logistics Segment Analysis Operational Highlights 4Q17 3Q17 2Q17 Average revenue per truck up 4% from 4Q Trucks (Avg.) 967 947 943 More than 20% of SWD capacity fed by pipeline during the quarter, continuing to Rev/Truck…
  11. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 11
    4Q17 Takeaways Supply chain operating at high levels of efficiency, little to no delays on jobs due to proppant, chemicals, cement, acid availability Pumping services seeing steady revenue despite typical seasonality in latter part…
  12. 4Q 2017 Earnings Presentation – Basic Energy Services Inc. – slide 12
    1H18 Outlook We expect 1H18 revenues to increase with the cyclical recovery, up 7%-10% from 2H17 Increase to be driven by higher completion and remedial services activity as well as increased utilization and pricing in production…

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