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Keane Group and CJ Energy Services Merger of Equals – Keane Group

Keane Group · Jun 7, 2019 · 18 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. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 1
    Merger of Equals Establishing an Industry-Leading, Diversified Oilfield Services Provider June 17, 2019 Company Presentation March 2019 0
  2. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 2
    Transformative Merger of Equals Highly strategic combination of complementary oilfield service companies Combined Profile Merger Overview Keane and C&J have entered into a definitive Increased Scale with High- agreement to combine in…
  3. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 3
    Merger Summary All-stock merger of equals 1.6149 shares of Keane common stock issued per outstanding share of C&J common stock Transaction Share exchange expected to be tax-free Structure Agreement permits cash dividend of 1.00 per…
  4. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 4
    Transaction Rationale Combination results in enhanced scale, value and financial position Scale & Diversity Across Services & Geographies: Creates large, diversified 1 well completions and production services company, with strong…
  5. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 5
    Enhanced Service Offering 1 Market leader across our completions & production services offering Our Leadership Position1 3 Hydraulic 1 Wireline & 2 High-Spec2 4 Cementing Fracturing Pumpdown Coiled Tubing Services Diversified…
  6. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 6
    Significant Scale in the U.S. 1 Creating a leading provider of multi-basin completions & production services in the U.S. Ability to serve Improved efficiencies Ability to leverage customers with via increased basin existing technology…
  7. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 7
    Broader Basin Reach & Service Diversity 1 Greater scale and scope with meaningful position in the most active U.S. basins Revenue by Basin1 % of total revenue 4.2 billion Adjusted EBITDA1,2 636 million 43% 6% 8% 21% 86%…
  8. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 8
    Significant Value from Synergies 2 Driving value creation via 100mm of non-market dependent cost synergies SG&A Efficiency in support structure Overhead consolidation Economies of scale Supply SG&AChain 100mm Proppant, chemicals…
  9. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 9
    Significant Expansion of Financial Scale 2 Unrivaled scale enhances financial and operational flexibility 4,226 Revenue1 (LTM, mm) 1.9x larger than the next peer 2,195 2,180 2,115 2,046 1,866 1,619 1,298 Pro-Forma Pro-Forma…
  10. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 10
    Strong Financial Position 3 Delivers stability and enhanced flexibility to invest in business innovation Cash1 As of March 31, 2019 106mm Data in million Keane C&J Pro-Forma Cash1 84 89 106 Net Debt1 255mm Senior Secured Term…
  11. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 11
    Complementary Cultures & Platforms 4 Like-minded approach to strategy, customers and shareholder value Customer Centric Culture Safety Employees Asset Quality We share an unwavering We recognize that our We rigorously maintain…
  12. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 12
    High-Quality Portfolio of Frac Assets 4 Shared approach to maintenance; perpetual cycle to keep assets fresh Safe and Reliable Leading Operational Strong Focus on Reducing Operations Execution Non-Productive Time Highly-utilized…
  13. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 13
    Portfolio of Blue-Chip Customers 4 Highly complementary customer base with limited overlap Partnerships with high-quality customers Focused on delivering top-tier safety, efficiency and execution Combined scale enables…
  14. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 14
    Combined History of Successful M&A 4 Shared track record of M&A selection, execution and integration Focused on Proven Ability to Committed to Disciplined Capital Expansion, Successfully Shareholder Value Allocation Approach…
  15. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 15
    Shared Commitment to R&D 5 Rich portfolio of proprietary technology spanning surface, downhole and digital Examples of Our Combined Technologies o AirRide Bouyancy Additive o DustProof Air Quality Enhancer o GameChanger Gun System…
  16. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 16
    Poised for Continued Innovation & Returns 5 Leading, high-quality asset base 2.3mm HHP + Full suite of non-frac services Constant evaluation of Technology Generating attractive product line performance investment drives cash…
  17. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 17
    Merger of Equals: C&J and Keane 1 Scale & Diversity Across Services & Geographies 2 Significant Synergies & Value Creation + 3 Strong Financial Position 4 Complementary Cultures & Operating Philosophy 5 Positioned for…
  18. Keane Group and CJ Energy Services Merger of Equals – Keane Group – slide 18
    Keane Investor Contacts C&J Investor Contacts Greg Powell Marc Silverberg Jan Kees JK van Gaalen Daniel Jenkins President & CFO Managing Director (ICR) Chief Financial Officer VP Investor Relations investorskeanegrp.com…

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