Enercom The Oil & Gas Conference 2018 August 20-23 www.icdrilling.com
Corporate Snapshot Current Capitalization & Liquidity (2) Sectors only pure play, pad-optimal USMM, unless otherwise noted growth story Share Price (/Share) 3.80 Share Outstanding (MM) 38.2 Fleet composed of fifteen 200 Series…
Strategic Highlights Maintaining a super-spec, pad optimal drilling fleet While adding Scale and Customers, unlocking Synergies and driving incremental Growth More than doubles the size of ICD by combining with Sidewinders…
Proposed Combination Summary ICD will acquire Sidewinder through a merger and issuance of shares of ICD Transaction common stock for 100% of the unitholder interests in Sidewinder Overview Combined company will retain the ICD name and…
Attractive Pro Forma Fleet with Additional Upside Complementary High-Spec Fleet Rig Fleet Overview Sidewinder Pro Forma of AC Rigs 15 15 34 1,500 HP 1,500 HP(1) Rig Horsepower (1) AC Motor (1) AC Motor Max Hook Load 750,000…
Attractive Proforma Cash Flows Indicative EBITDA growth from opportunities Expected EBITDA per share accretion embedded in combination (1) exceeds 20%+ in thousands Free Cash Flow grows organically 120,000 through following…
Attractive Valuation ICD Valuation Per Pad-Optimal Rig SW Valuation Per Pad-Optimal Rig in millions in millions Number of Pad Optimal Rigs 15 19 Number of Pad Optimal Rigs Shares Outstanding(millions) 38.25 36.75 Shares to be…
Pro Forma Balance Sheet and Liquidity Enhanced Liquidity and Stronger Balance Sheet At closing, ICD will enter into a 130 Estimated Pro Forma Balance Sheet million term loan as of September 30, 2018 in millions Five-year term Cash…
Substantial Cost Synergies Combination expects to achieve annual run rate synergies of 8 to 10 million Reduction in corporate overhead Optimization of operational facility and rationalization of redundant facilities Reduction in…
Strong Combined Management Team Board of Directors Executive Leadership Board of directors will be comprised of seven Anthony Gallegos President and CEO members Mr. Gallegos was a co-founder and joined Sidewinder upon Four to be…
Strong Combined Presence in Most Active Basins Pro Forma Operating Footprint(1) ICD Pro forma 6/30/18 backlog of 163.6 million Sidewinder Permian 201, 202, 204, 205, 209, Haynesville 210, 211, 212, 214, 217, 218 64, 102, 103,…
Geographic Mix and Customer Relationships Active Rig Count by Basin Limited Customer Overlap ICD Sidewinder Top ICD Customers 27% 25% 73% 75% Pro Forma Active Rig Count by Basin Top Sidewinder Customers 26% 74%…
Closing Summary Maintaining a super-spec, pad optimal drilling fleet while adding Scale and Customers, unlocking Synergies and driving incremental Growth More than doubles the size of ICD by combining with Sidewinders high-quality…
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Balance Sheet June 30, 2018 June 30, 2018 December 31, 2017 Assets Cash and cash equivalents 2,554 2,533 Accounts receivable, net 19,702 18,056 Inventories 2,875 2,710 Assets held for sale 1,920 1,920 Prepaid expenses and other…
Income Statement 2Q18 Three Months Ended Six Months Ended June 30, March 31, June 30, 2018 2017 2018 2018 2017 Revenues 25,754 21,285 25,627 51,381 41,521 Costs and expenses Operating costs 17,966 15,808 18,926 36,892 30,706…
Non-GAAP Financial Measures Adjusted net loss, EBITDA and adjusted EBITDA are supplemental non-GAAP financial measure that are used by management and external users of our financial statements, such as industry analysts, investors,…
Non-GAAP Financial Measures Reconciliation of Net Loss to Adjusted Net Loss: (Unaudited) (Unaudited) Three Months Ended Six Months Ended June 30, 2018 June 30, 2017 March 31, 2018 June 30, 2018 June 30, 2017 Per Per Per Per Per…
Non-GAAP Financial Measures (1) In the second quarter of 2017, we recorded a 0.5 million, or 0.02 per share, non-cash impairment reflecting the estimated loss from the expected sale of our Galayda facility. In the first quarter of…
Non-GAAP Financial Measures Three Months Ended Six Months Ended June 30, 2018 June 30, 2017 March 31, 2018 June 30, 2018 June 30, 2017 Number of completed rigs end of period (1) 14 14 14 14 14 Rig operating days (2) 1,264.7 1,111.2…
Other Matters No Offer or Solicitation This communication is neither an offer to buy, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant…
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