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Simmons London Energy Summit – Basic Energy Services Inc.

Basic Energy Services Inc. · Jun 26, 2018 · 21 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. Simmons London Energy Summit – Basic Energy Services Inc. – slide 1
    Simmons London Energy Summit June 26, 2018 OUR LIFES WORK IS THE LIFE OF THE WELLTM NYSE: BAS
  2. Simmons London Energy Summit – Basic Energy Services Inc. – slide 2
    Proven Growth Strategy TM Our Lifes Work is the Life of the Well Basic Energy Services supports its customers well site activities from cradle to grave Diversified service offering poised for future growth opportunities The…
  3. Simmons London Energy Summit – Basic Energy Services Inc. – slide 3
    Basic Energy Services Snapshot 2017 Revenue by Region Company Data: Sizeable Footprint in the Resilient Permian Basin NYSE Ticker: BAS Appalachian/Ma California rcellus 3% Share price (as of 6/21/18): 11.87 [CATEGORY 2% NAME] 5%…
  4. Simmons London Energy Summit – Basic Energy Services Inc. – slide 4
    Basics Service Lines and Assets Completion & Remedial Well Servicing Water Logistics Services 1Q18 revenue = 118mm 1Q18 revenue = 58mm 1Q18 revenue = 57mm 523k hydraulic horsepower 310 total rigs* 975 trucks (HHP) 272 rigs are…
  5. Simmons London Energy Summit – Basic Energy Services Inc. – slide 5
    Extensive Footprint in Prolific Basins Significant Exposure to Major Oil and Gas Markets 80% Revenue Exposure to Oil and Liquids Activity Appalachia BAKKEN 190,000+ Gross Wells (10% oil) California APPALACHIA 50,000+ Gross Wells…
  6. Simmons London Energy Summit – Basic Energy Services Inc. – slide 6
    1Q18 Highlights Steady growth in Well Servicing and Water Logistics segments: Well Servicing segment revenue up 6% sequentially to 57.5 mm Water Logistics segment revenue increased 2% sequentially to 56.5 mm Increased utilization…
  7. Simmons London Energy Summit – Basic Energy Services Inc. – slide 7
    Operational Update Equipment Counts & Utilization 1Q18 4Q17 3Q17 Well servicing rig hours 168,500 159,500 165,200 Well servicing utilization rate 76% 53% 55% Invest in new Number equipment of well servicing rigs - end of period…
  8. Simmons London Energy Summit – Basic Energy Services Inc. – slide 8
    Operational Update 2Q well service rig utilization 80% through May, with margins at 23%, up from 16% in 1Q Pricing continues to climb in the mid-single digit range in 2Q, with industry Invest nearin new fullequipment utilization…
  9. Simmons London Energy Summit – Basic Energy Services Inc. – slide 9
    Specialized Completion & Remedial Services Focused on Markets Traditionally Underserved by Larger Competitors Revenue Support drilling, workover and production processes 250 Pumping services for cementing, acidizing, 200…
  10. Simmons London Energy Summit – Basic Energy Services Inc. – slide 10
    Pressure Pumping Fleet Snapshot Fleet Metrics: C&RS Revenue by Service Line 523k total HHP 413k HHP devoted to frac 109k HHP for acid/cementing/other 120,000 Ten spreads currently operating Two in Permian 90,000 Five in…
  11. Simmons London Energy Summit – Basic Energy Services Inc. – slide 11
    Well Servicing Well Servicing Rigs Facilitate Down Hole Activity Revenue Completion - well preparation for production after 120 successful drilling of well; packaged ancillary 100 equipment is a differentiator 80 Workover -…
  12. Simmons London Energy Summit – Basic Energy Services Inc. – slide 12
    NAMs Preferred Well Service Company BAS operates one of the largest fleets of high-spec service rigs in North America Source: Public filings, company press releases 13
  13. Simmons London Energy Summit – Basic Energy Services Inc. – slide 13
    Well Servicing is Rapidly Becoming a 24- Hour Operation 24 Hour Rig Packages 25 20 15 10 5 0 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 Permian Rockies Gulf Coast Central Appalachia California 14
  14. Simmons London Energy Summit – Basic Energy Services Inc. – slide 14
    Well Servicing Rig Hours & Utilization Rates Concentrated Presence in Oil and Liquid-Directed Markets 85,000 90% 80% 75,000 70% 65,000 60% Utilization Rate Rig Hours 50% 55,000 40% 45,000 30% 20% 35,000 10%…
  15. Simmons London Energy Summit – Basic Energy Services Inc. – slide 15
    Well Servicing Fleet Snapshot Fleet Metrics: Fleet Distribution by Class 310 Well Service Rigs 247 250 272 Class IV Fleet ranges from 200HP-900HP rigs or Larger 200 272 rigs or 88% of the fleet are late model Class Rigs IV (104…
  16. Simmons London Energy Summit – Basic Energy Services Inc. – slide 16
    Water Logistics Basics Integrated Fluid Service Business Anchored by Expansive SWD Network Revenue 120 Water sourcing and storage 100 SWD design and installation Integrated truck fleet and SWD network 80 Millions Pipeline…
  17. Simmons London Energy Summit – Basic Energy Services Inc. – slide 17
    Increasing Market Share Source: Public filings, company press releases 18
  18. Simmons London Energy Summit – Basic Energy Services Inc. – slide 18
    Transition from Trucks to Pipeline SWD & Pipeline Volumes 3,500,000 3,000,000 2,500,000 Volume disposed, bbls 2,000,000 1,500,000 1,000,000 500,000 - Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17…
  19. Simmons London Energy Summit – Basic Energy Services Inc. – slide 19
    2Q18 Outlook We expect 2Q18 revenues to increase sequentially by 7%-11% Increase expected to be driven by all segments, with higher completion and remedial services activity, particularly frac services, cement, acid, and coiled…
  20. Simmons London Energy Summit – Basic Energy Services Inc. – slide 20
    Basic Investment Highlights Diversified service offerings for Providing a safe work environment is a both vertical and horizontal activity top priority Heavily exposed to the Permian Basin, One of the largest high-spec service rig…
  21. Simmons London Energy Summit – Basic Energy Services Inc. – slide 21
    Non-GAAP Reconciliation (000s) Three Months Ended 3/31/18 3/31/17 Net Loss (30.5) (38.6) Adjustments Income Tax Provision (Benefit) (0.1) (0.4) Interest Expense 11.3 9.1 Depreciation & Amortization 30.2 25.4 EBITDA 10.9 (3.7)…

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