Barclays CEO Energy-Power Conference September 5, 2018 OUR LIFES WORK IS THE LIFE OF THE WELLTM NYSE: BAS
Proven Operating Strategy Our Lifes Work is the Life of the Well BASIC supports customer wellsite activities from initial drilling to plugging & abandonment Diversified service offering poised for future growth with increasing U.S.…
Company Overview Overview by Segment Revenue by Activity (TTM ended 6/30/18) Diversified Business with Significant Revenue Growth in Completion Activities 2Q18 revenue = 64 mm Contract Drilling Completion Well Servicing Well 310…
Primary Service Lines Well Servicing Water Logistics Completion & Remedial One of the most extensive Pumping services for networks of Salt Water cementing, acidizing, Disposal Wells (SWDs) squeeze-cementing Pipeline and trucks…
Extensive Footprint in Prolific Basins Significant Exposure to Major Oil Basins with 80% Revenue Exposure to Oil and Liquids Activity 5 Core regions: 1 - Permian 4 2 - Eagle Ford 3 - Mid-Continent 6 3 4 - Niobrara 5 -…
Core, Production-Levered Businesses Have Differentiated Scale Active High-Spec Well Service Rigs Scale in high-spec rigs with utilization near or at labor constraints should mean continued improvement in pricing. ( of High-Spec Rigs)…
Market fundamentals support Production Services growth, where Basic will build on its industry leading position Wells per Pad Trend by Basin Lateral Length (000s ft.) Trend by Basin 16 Annual growth in core segments 14 is expected at…
Overview of the Strategic Realignment Initiative The Company engaged AlixPartners, a management consultancy, to refine our strategic vision and identify actions to improve execution: - Asset rationalization and EBITDA and free cash…
2Q18 Operational Highlights Steady growth in Well Servicing and Water Logistics segments: - Well Servicing segment revenue up 12% sequentially to 64.4 mm, with margins up 670 bps q/q to 22.9% - Water Logistics segment revenue…
Operational Update 2Q18 1Q18 4Q17 Well servicing rig hours 181,600 168,500 159,500 Wellinservicing Invest utilization rate new equipment 82% 76% 53% Expand into new markets Number of well servicing rigs - end of period 310 310…
Well Servicing Well Servicing Rigs Facilitate Down Hole Activity Revenue Completion - well preparation for production after 100 successful drilling of well; packaged ancillary 90 equipment is a differentiator 80 70 Workover -…
National Preferred Well Service Company BAS operates the largest fleet of high-spec service rigs in North America Quarterly Rig Hours Indexed to 1Q16 vs US Peers 180% 160% 140% 120% 100% 80% 1Q16 2Q 3Q 4Q 1Q17 2Q 3Q…
Well Servicing is Rapidly Becoming a 24-Hour Operation 24-Hour Rig Packages 30 25 20 15 10 5 0 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 Permian Rockies Gulf Coast Central Appalachia California 14
Well Servicing Rig Hours & Utilization Rates Concentrated Presence in Oil and Liquid-Directed Markets 85,000 90% 111 rigs removed from active count (1) 80% 75,000 70% 65,000 60% Utilization Rate Rig Hours 50% 55,000…
Well Servicing Fleet Overview Fleet Metrics: Fleet Distribution by Class 247 310 Well Service Rigs 250 272 Class IV Fleet ranges from 200HP-900HP rigs or Larger 200 Rigs 272 rigs or 88% of the fleet are late model Class 150 IV…
Water Logistics Basics Integrated Fluid Service Business Anchored by Expansive SWD Network Revenue 100 Water sourcing and storage 90 SWD design and installation 80 70 Integrated truck fleet and SWD network Millions 60…
Transition from Trucks to Higher-Margin Pipeline Disposal which also De-Risks Operations SWD Trend -- Trucked Volumes vs. Piped Volumes Note: Piped vs. Trucked not Drawn to Scale 6,000,000 900,000 800,000 5,000,000 700,000…
Specialized Completion & Production Services C&RS Revenue by Service Line Support drilling, workover and production processes Pumping services for cementing, acidizing, 120,000 squeeze-cementing (workover), fracturing and re- 90,000…
CapEx and Liquidity Capital expenditures (including capital leases) for 2Q18 totaled 24.4 million - Maintenance/sustaining expenditures were 21.5 million - Expansion projects and other totaled 2.9 million 2018 capital expenditures…
3Q18 Outlook Despite revenue trending higher in the early part of the third quarter, the strategic realignment initiative could result in choppiness as we move assets and close underperforming yards - We anticipate revenue to be…
Loading...
