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Scotia Howard Weil Energy Conference – CJ Energy Services Inc.

CJ Energy Services Inc. · Mar 25, 2019 · 32 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. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 1
    Scotia Howard Weil Energy Conference MARCH 25 26, 2019 1
  2. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 2
    Why Invest in C&J Energy Services
  3. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 3
    Diversified, New Well Focused Service Provider 4Q18 Revenue: 491MM Committed to Safety Strong Focus on Quality Management and Quality and Safety Record Fluids Management New Well Specialized Completions, Well 8% Focused Services…
  4. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 4
    with a Leading Presence in the Most Active U.S. Basins(1) Operating Footprint 4Q18 Revenue by Basin 6% 13% 35% 12% 12% 22% C&J Energy Services Assets West Texas South Texas / East Texas Purposely focused on U.S.…
  5. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 5
    We Create Value for Our Shareholders Objectives Strategies Results Safe, high-quality and reliable service that focuses on Price Structure reducing customer total well cost Improving Margins Reflects Value Built-for-purpose, well…
  6. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 6
    Disciplined Capital Deployment is Key to Sustainable Returns Operating segments compete for capital based on returns Balanced Capital Capital deployed with clear visibility on revenue generation Expenditures Flexibility to divert or…
  7. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 7
    Diversified Customer Base Diverse Customer Base No Individual Why Customers Choose C&J Exposure Greater than 10% of 2018 Revenues Reputation for Safety and Service Quality High Quality Assets and Execution Service Line and…
  8. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 8
    Our Service Lines
  9. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 9
    4Q18 Financial Highlights & Market Conditions 4Q18 Market Conditions Consolidated Revenue Revenue was flat y-o-y but decreased 14% sequentially; Adj. ( in MM) EBITDA decreased 14% y-o-y and 32% sequentially 611 553 568 4Q18 results…
  10. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 10
    Completion Services Segment Overview Full Year & Fourth Quarter 2018 Highlights Reported Segment Revenue ( in MM) 2018 segment revenue and Adjusted EBITDA 413 374 373 increased 31% to 1.5B and 37% to 274MM, 343 respectively, when…
  11. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 11
    Hydraulic Fracturing Is Our Biggest Business Line 2019 Fracturing Strategy Entered 1Q19 at the low spot fleet count reached in 2Q18 Focused on committed customers who appreciate the value we provide Best-in-class execution and…
  12. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 12
    A Proven Market Leader in Wireline & Pumping Casedhole Solutions Leading The 1 service provider and market leader(1) Position Introduced advance pressure control and greaseless cable systems Scalable Established in most U.S.…
  13. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 13
    Well Construction & Intervention Services Segment Overview Full Year & Fourth Quarter 2018 Highlights Reported Segment Revenue ( in MM) 2018 segment revenue and Adjusted EBITDA increased 151% to 376MM and 3x to 68MM, 99 96 87 94…
  14. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 14
    Expanding Presence in Cementing and Coiled Tubing Market 4th largest provider of cementing services in Position U.S. land with purchase of O-Tex Pumping(1) A market leader in high spec coiled tubing(1) All 2 and 2 coil units are fully…
  15. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 15
    Well Support Services Segment Overview Full Year & Fourth Quarter 2018 Highlights Reported Segment Revenue 2018 segment revenue and Adjusted EBITDA ( in MM) increased 3% to 393MM and 4x to 40MM, 99 99 104 respectively, when compared…
  16. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 16
    Established Provider of Well Support Services Market Top 2 well services company in the U.S. Position with a proven brand name(1) Top 10 customers are majors and large independents recurring and stable Diversified Strong operating…
  17. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 17
    Technology Innovation Drives Efficiency and Safety Research and Technology Initiatives Improve Reliability and Safety and Reduce Operating Costs R&T and Operations Collaborate to Improve Equipment Reliability NPT tracking drives Root…
  18. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 18
    Growing Perf and Plug Operations Drive Higher Margins Research and Technology Innovation Drives Leadership in Plug and Perf Operation Significant Savings YTD Lowest cost of consumables in the industry for guns and switches 2018…
  19. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 19
    Continued Focus on Reducing Cash Costs SG&A Expense D&A Expense ( in MM) ( in MM) 61 63 68 66 54 60 46 50 50 40 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 4Q18 Highlights 1Q19 Cost Guidance SG&A expense…
  20. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 20
    Strong Capital Structure and Reasonable Growth Plan No Leverage and Ample Liquidity 2019 Capital Budget & Highlights ( in MM) 466 Corporate, Facilities, 414 393 R&T and Other 371 13% 356 326 235 17% Growth 317 110 136 70%…
  21. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 21
    Thoughts on the Forward Outlook 1Q19 Outlook 2019 Thoughts Expecting consolidated revenue and Adjusted EBITDA to be Remain focused on dedicating frac fleets with long- flat to slightly down sequentially standing, efficient customers…
  22. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 22
    C&J Tenants: The Differentiated U.S. Oilfield Services Company Leading Diversified Modern, High-Quality 1 Service Provider in most 2 Asset Base Enhanced with U.S. Land Basins Proprietary Technology Established and Growing…
  23. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 23
    APPENDIX: Additional Information & Non-GAAP Reconciliation
  24. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 24
    Historical Financial Summary Select Historical Financial Information MM; unless otherwise stated Full Year Full Year Full Year 2016 1Q'17 2Q'17 3Q'17 4Q'17 2017 1Q'18 2Q'18 3Q'18 4Q'18 2018 Revenue Completion Services 524 192…
  25. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 25
    Non-GAAP Reconciliation Adjusted EBITDA Reconciliation* MM Full Year Full Year Full Year 2016 1Q'17 2Q'17 3Q'17 4Q'17 2017 1Q'18 2Q'18 3Q'18 4Q'18 2018 Net income (loss) (944) (32) (13) 10 57 22 21 28 10 (190) (130) Interest…
  26. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 26
    Non-GAAP Reconciliation (continued) C&J ENERGY SERVICES INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) (In thousands, except per share data) (Unaudited) Three Months Ended December 31,…
  27. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 27
    APPENDIX: Additional Information on Social Responsibility at C&J
  28. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 28
    cjenergy.com Our Core Values Empowering Our Employees Doing the Right Thing Demonstrating Resilience Delivering Every Time Sustainability Goals Provide a safe work environment that supports the overall well-being of our…
  29. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 29
    OUR GREATEST STRENGTH EXCEPTIONAL EMPLOYEES At C&J, were driven by core values that give us a foundation to perform at our very best every day. Were committed to excellence in everything we do, and that includes being a good corporate…
  30. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 30
    OUR TOP PRIORITY SAFE WORK ENVIRONMENT We continuously strive to reinforce a culture where employees are empowered to always put safety first. Technology Investments Safety Initiatives Safety Performance Personal Well-Being RigLock…
  31. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 31
    ESSENTIAL COMMITMENTS Safety is only one piece of our social responsibility commitments. Fostering Transparency and Inclusivity Acting with Integrity Giving Back Board commitment to ensuring Robust corporate governance Priority…
  32. Scotia Howard Weil Energy Conference – CJ Energy Services Inc. – slide 32
    PROTECTING OUR PLANET It makes business sense to move toward environmental responsibility. Prioritize Environmentally Conservation and Friendly Technology Recycling Hibernate Warm-Start System turns off frac Curbing waste…

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