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Wells Fargo West Coast Energy Conference – CJ Energy Services Inc.

CJ Energy Services Inc. · Jun 11, 2019 · 41 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. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 1
  2. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 2
  3. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 3
  4. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 4
  5. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 5
    Unwavering Focus on Quality 1Q19 Revenue: 511MM Committed to Safety and Quality Management and Safety Record Fluids Management New Well Specialized Completions, Well 7% Focused Services Rig Services Construction & Intervention…
  6. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 6
    Operating Footprint 1Q19 Revenue by Basin 6% 13% 42% 12% 9% 18% West Texas South Texas / East Texas Purposely focused on U.S. onshore market and well positioned for future activity growth Rockies / Bakken…
  7. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 7
    Objectives Strategies Results Safe, high-quality and reliable service that focuses on Price Structure reducing customer total well cost Competitive Reflects Value We Provide Built-for-purpose, well-maintained quality equipment…
  8. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 8
    Operating segments compete for capital based on returns Balanced Capital Capital deployed with clear visibility on revenue generation Expenditures Flexibility to divert or suspend in changing markets Continuous drive to improve our…
  9. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 9
    Why Customers Choose C&J Diverse Customer Base No Individual Exposure Greater than 10% of 2018 Revenues Reputation for Safety and Service Quality High Quality Assets and Execution Service Line and Geographic Diversity…
  10. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 10
  11. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 11
  12. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 12
    1Q19 Market Conditions Consolidated Revenue Revenue decreased y-o-y but increased 4% sequentially; Adj. ( in MM) EBITDA decreased both y-o-y and sequentially 611 Results negatively affected by inclement weather and lower 568…
  13. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 13
    ( in MM) Segment revenue decreased 13% year-over-year, 413 but increased 12% sequentially to 327MM 374 373 Segment Adjusted EBITDA decreased 33% year- over-year, but increased 23% sequentially to 54MM 327 293 Fracturing revenue…
  14. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 14
    ( in MM) Focused on efficient, committed customers who appreciate the value we provide 289 269 252 236 Best-in-class execution and technology-enhanced efficiencies attract blue-chip customers 193 Expecting a 30% reduction of…
  15. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 15
    Leading The 1 service provider and market leader(1) Position Introduced advance pressure control and greaseless cable systems Scalable Established in most U.S. basins Footprint Large and diversified group of customers, provided…
  16. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 16
    ( in MM) Segment revenue and Adjusted EBITDA decreased both year-over-year and sequentially Cementing revenue decreased 12% year-over-year 99 96 94 and 15% sequentially 87 Cementing business was negatively affected by: 79 o…
  17. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 17
    Market 4th largest provider of cementing services in Position U.S. land with purchase of O-Tex(1) A market leader in high spec coiled tubing(1) Scalable 2nd largest cementer in the Permian Basin(1) Footprint Added two newbuild 2 coil…
  18. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 18
    Segment revenue increased 14% year-over-year to ( in MM) 105MM and was essentially flat sequentially Segment Adjusted EBITDA increased 25% year-over- 99 104 105 year, but decreased 47% sequentially to 7MM 99 91 Segment…
  19. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 19
    Market A top 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 presence in California, Footprint & Rockies,…
  20. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 20
    R&T and Operations Collaborate to Improve Equipment While Increasing Safety and Reducing the Reliability and Reduce Operating Costs Environmental Impact of Our Operations NPT tracking drives Root Cause Analysis by Operations and…
  21. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 21
    Research and Technology Innovation Drives Leadership in Plug and Perf Operation Significant Savings Delivered in 2018 Lowest cost of consumables in the industry for guns and switches Advanced pressure control increases efficiency and…
  22. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 22
    SG&A Expense D&A Expense ( in MM) ( in MM) 61 63 60 66 54 60 46 50 54 50 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q19 Highlights 2Q19 Cost Guidance SG&A expense decreased 19% year-over-year but…
  23. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 23
    No Leverage and Ample Liquidity 2019 Capital Budget & Highlights ( in MM) Cash ABL Availability Corporate, Facilities, R&T and Other 466 13% 393 371 364 17% Growth 356 317 235 275 70% Maintenance 110 136 76 89 6/30/2018…
  24. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 24
    2Q19 Outlook 2019 Thoughts Expecting consolidated revenue to increase mid to high Current 2019 budget calls for 695,000 HHP deployed single digits sequentially and profitability to improve mostly throughout the year at improving…
  25. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 25
  26. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 26
  27. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 27
    MM; unless otherwise stated Full Year 1Q'18 2Q'18 3Q'18 4Q'18 2018 1Q'19 Revenue Completion Services 374 413 373 293 1,454 327 Well Construction & Intervention Services 88 99 96 94 376 79 Well Support Services 91 99 99 104 393 105…
  28. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 28
    C&J ENERGY SERVICES INC. AND SUBSIDIARIES RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME (LOSS) TO ADJUSTED EBITDA (In thousands, except share data) (Unaudited) Three Months Ended March 31, 2019 December 31, 2018…
  29. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 29
    C&J ENERGY SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF NET DECREASE IN CASH AND CASH EQUIVALENTS TO FREE CASH FLOW USAGE (In thousands) (Unaudited) Three Months Ended March 31, 2019 Net decrease in cash and cash equivalents…
  30. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 30
    C&J ENERGY SERVICES, INC. AND SUBSIDIARIES RECONCILIATION OF FRACTURING NET INCOME (LOSS) TO FRACTURING ADJUSTED EBITDA (In thousands, except average active fleet data) (Unaudited) Three Months Ended March 31, 2019 December 31,…
  31. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 31
    Fracturing Stages Wireline Runs 16,203 15,849 4,823 4,872 5,100 14,704 4,652 4,197 13,132 12,628 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 Coiled Tubing Jobs Cementing Jobs 810 843 721 2,503 721 2,357…
  32. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 32
    U.S. Rig Hours U.S. Truck Hours 336,261 337,306 96,208 95,149 310,445 93,911 307,002 305,546 92,428 92,956 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19
  33. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 33
  34. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 34
  35. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 35
  36. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 36
    RigLock Wellhead Lone Monitor Program. Acts Taking care of our people like an observer for our people OSHA Voluntary Protection Connections(1). Enables our Program (VPP). Five of the and supporting their health when working alone and…
  37. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 37
    Board commitment to ensuring Robust corporate governance Priority veteran recruitment director and work force diversity practices Community Impact Program Employee engagement and Speak-Up and Core Values enables community/charitable…
  38. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 38
    Hibernate Warm-Start System turns off frac Curbing waste generation and working to pump engines between stages, resulting in reduce, re-use and recycle reduced fuel consumption, improved air quality and less noise which leads to…
  39. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 39
  40. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 40
  41. Wells Fargo West Coast Energy Conference – CJ Energy Services Inc. – slide 41

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