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1Q 2019 Earnings Presentation – Basic Energy Services Inc.

Basic Energy Services Inc. · May 10, 2019 · 11 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. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 1
    1Q 2019 Earnings Call
  2. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 2
    Table of Contents ? 1Q19 Financial Recap ? 1Q19 Operational Highlights ? Operational Update ? CapEx and Liquidity ? Well Services ? Water Logistics ? Completion & Remedial Services ? 2Q19 Outlook ? Non-GAAP Reconciliation
  3. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 3
    1Q 2019 Financial Recap (in millions, except per share data) Three Months Ended 3/31/19 12/31/18 3/31/18 Revenue Well Servicing $60.5 $58.8 $57.0 Water Logistics 55.6 55.6 56.5 Other Services 4.3 7.1 3.6 Completion & Remedial 76.8…
  4. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 4
    1Q 2019 Operational Highlights • As anticipated for Q1, completion activity slowed, which contributed to the build-up of drilled but uncompleted wells. • Well Servicing and Water Logistics posted combined direct margins of $31.6…
  5. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 5
    66 1Q19 4Q18 3Q18 Well servicing rig hours 165,000 159,600 180,300 Well servicing utilization rate (average) 74% 72% 82% Number of well servicing rigs (end of period) 310 310 310 Revenue per rig hour (excluding manufacturing) $367…
  6. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 6
    CapEx and Liquidity • Capital expenditures (including capital leases) for 1Q19 totaled $24 million • Maintenance/sustaining expenditures and other were $16.3 million • Expansion projects totaled $7.7 million • Currently anticipate…
  7. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 7
    Well Services Segment Operational Highlights Revenue Breakdown • Rigs working with 24-hour packages averaged 21 in 1Q, down slightly from Q4 due to lower completion activity • Rig hours up 3% with strong utilization at 74% • Rig…
  8. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 8
    Water Logistics Segment Operational Highlights Revenue Breakdown • Q1 margins improved to 33%, as the shift of volumes of water disposal via pipeline continues • Approximately 32% of SWD volumes were fed by pipeline during the…
  9. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 9
    Completion and Remedial Services Operational Highlights Segment Revenue Breakdown • Margin declined to 17% at 1Q19 compared to 21% at 4Q18 on lower revenue, largely from lower frac activity, weather and holidays, as well as lower…
  10. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 10
    2Q19 Outlook • We expect the second quarter total revenue to be up sequentially, in the low- to mid-single digit range from first quarter • Well Services and Water Logistics should see a sequential increase in revenue of low- to…
  11. 1Q 2019 Earnings Presentation – Basic Energy Services Inc. – slide 11
    Non-GAAP Reconciliation (in millions) Three Months Ended 3/31/19 12/31/18 3/31/18 Net Loss ($27.5) ($46.7) ($30.5) Adjustments Income Tax Provision (Benefit) (1.9) 0.0 (0.1) Loss on Extinguishment of Debt 0.0 26.4 0.0 Interest…

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