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Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp.

ProPetro Holding Corp. · Nov 13, 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. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 1
    Acquisition of Pumping Services Assets from Pioneer Natural Resources November 13, 2018 NYSE: PUMP www.propetroservices.com
  2. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 2
    DISCUSSION TOPICS Transaction Summary Strategic Rationale Implied Valuation Asset Overview Sources & Uses and Pro Forma Capitalization Pro Forma ProPetro Overview 3
  3. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 3
    TRANSACTION SUMMARY ProPetro to acquire Pioneer Natural Resources Pressure Pumping (PPS) Assets Overview ProPetro to become a strategic long-term service provider to Pioneer, providing pressure pumping and related services for a…
  4. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 4
    STRATEGIC RATIONALE Transaction creates the largest pressure 56% Increase in Total Horsepower pumper in the Permian Basin Efficient transition through existing 1,415,000 HHP partnership with leading Permian operator 28 Fleets…
  5. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 5
    COMPELLING VALUATION IN TODAYS MARKET Current Valuations / HHP Attractive / HHP valuation relative to current corporate levels and estimated newbuild levels Current (1) PUMP 1,600 Prudent investment in assets with a net neutral…
  6. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 6
    EFFICIENT OPTIMIZATION OF PPS ASSETS Steady ramp to run-rate activity and efficiency by year-end 2019 PPS Estimated Active Fleets Drivers of Upside 8 Increased scale likely to generate greater purchasing power Three coiled…
  7. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 7
    HORSEPOWER ALLOCATION Asset Breakdown Frac Fleets: 50,000 HHP / Fleet x 8 Fleets:(1) 400,000 + Pumpdown: 7,500 HHP / Fleet x 8 Fleets:(1) 60,000 + Extra HHP (Potential Maintenance Savings): 50,000 = Total HHP: 510,000…
  8. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 8
    TRANSACTION SOURCES & USES AND PRO FORMA CAPITALIZATION Sources and Uses ( in millions) Sources Uses Equity Issuance 290 Pressure Pumping Assets 333 (1) ABL Draw at Closing 55 RE Facilities and Other Assets 67 ABL Draw 60 Days…
  9. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 9
    PRO FORMA PROPETRO 100% Frac Operations Permian Focused Customers Permian Concentrated 1,415,000 HHP Spread over 28 Crews(1) Customer and Employee Focused Business Model Fully Utilized Fleet Including a 10 year strategic,…
  10. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 10
    HORSEPOWER GROWTH AND UTILIZATION 1,500,000 56% Increase in Total Horsepower 510,000 total HHP additions 1,250,000 Homogenous Fleet Fully Maintained Through the Downturn 1,000,000 Continue to Maintain Industry Leading…
  11. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 11
    UNCHANGED POSITIONING FOR SUCCESS Permian Focus Positioned in the low cost basin Blue Chip Customers Large drilling inventories and sizeable rig programs Superior Performance Consistently outperforming the competition on location…
  12. Acquisition of Pumping Services Assets from Pioneer Natural Resources – ProPetro Holding Corp. – slide 12
    CONTACT Corporate Headquarters: 1706 S. Midkiff, Bldg. B Midland, TX 79701 432.688.0012 www.propetroservices.com Investor Relations: Sam Sledge sam.sledgepropetroservices.com Office Direct 432.253.5111 13

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