CSI Compressco Overview CSI Compressco LP (NASDAQ: CCLP) 40+ years supporting the oil and gas industry 1.2M HP in service fleet operating at 90.1% utilization (at 9/30/19) TETRA Technologies, Inc. (NYSE: TTI) Owns 1.4% GP interest,…
Q3 2019 Highlights On November 6, 2019, re-affirmed 2019 adjusted EBITDA(1) guidance of 125M-130M Continued improvements in Compression Services revenues and margins Highest high gross margins of 53.2% since the acquisition of…
U.S. Gas Macro Gathering and Lift 30% growth in shale gas production expected by 2023(1) Dry Natural Gas Production By Type Electricity Generation From Selected Fuels trillion cubic feet billion kilowatt-hours 2018 60 6,000 2018…
Unique Industry Business Model Largest vertically integrated compression services company 2019-Q3 TTM Revenue Compression Services 2019-Q3 TTM Revenue of 253M 15% 350 bps YTD Utilization Improvement 491M 52% 33% Equipment…
Growth from all Phases Gas Lift replacing ESPs Gas Gathering Centralized Gas Lift Late Life Lift for Unconventionals 50% of low HP Demand directed to unconventionals 40% of high HP Demand 60% of high HP Demand 2019 CSI…
Compression Services Increased Growth Up to 2,500HP size, supporting all compression needs 90% of operating fleet HP is reciprocating and rotary screw compression 53% of operating fleet is large HP category (1,000HP) 11% of…
Focused on Most Prolific Producing Basins in USA Focused on key shale oil plays with customers with strong balance sheets Bakken Niobrara Utica Marcellus Woodford SCOOP/Stack Monterey San Juan Barnett…
Served Markets - Growth Current HP Deployed By Size 72% Utilization 97% Utilization 11% 1,000 HP 101-1,000 HP 0-100 HP 53% 36% 87% Utilization 0-100 HP 101-1000 HP 1,000 HP Deployed HP & Utilization Trends 1,100 1,050…
Equipment Is Being Added To Existing Clusters New HP being added to existing clusters as customers bring more production online Clusters are more efficient to service and maintain Customers dont traditionally mix suppliers in a…
Move to Large HP and ERP System Yielding Higher Margins in Compression Services 2015-Q1 2019-Q3 Compression Services Margins 55.0% 50.0% 38% 45.0% 62% 51% 49% 40.0% 35.0% 30.0% 1,000…
Single and Multi-Well Gas Lift Compression Demand is Increasing Displacing ESPs As Best Artificial Lift Method in Shale Reliability in Shale Formations Sand, Solids and Associated Gas Volumes Costly Electric Infrastructure…
Low Horsepower GasJack Unit Applications Evolving to Unconventional liquids lift Fastest growing application is liquids gas lift for thousands of aging unconventional wells thorugh Gas Assisted Plunger Lift (GAPL) GasJack Business…
New Unit and After Market Service Offerings Largest compression fabrication facility in the Permian Basin Integrated business model is highly capital efficient generating positive working capital with no new capital required for…
Connected Enterprise Business Strategy Model SALES OPPORTUNITY Maximize efficiencies by REPORTING AND CONFIGURE, PRICE INVOICING AND QUOTE focusing on customers and regions that have higher HP concentrations Leveraging the…
Environmental, Social, Governance (ESG) Environmental Social Natural gas focused, which is Stable workforce expected to play role in reducing CO2 Robust and regular training programs emissions(1) Actively participate with customers…
Financial Overview 2019 CSI Compressco LP 18
Annual Trends Well Revenue positioned toadjusted and capitalizeEBITDA on the growing compression improving on strongermarket market environment Revenue (M) Guidance (M)(4) 600 458 483 500 439 400 Low End High End 311 296…
Quarterly Trends Well positioned Compressionto capitalize and relatedonservices the growing compression continues market each quarter to get stronger Revenue (M) Adjusted EBITDA(1) (M) 150 138 136 40 115 114 34 120 103 35 33…
Capital Allocation Strategy Mid-Point Guidance Millions Generating significant distributable cash flow to invest, reduce debt or return to unitholders (1,3) Adjusted EBITDA 128 Targeting 50% of distributable cash flow for debt…
Balance Sheet Debt Maturity No near-term maturities In Millions 350M, 7.5% secured notes 400 S&P Rating B+, 296M, 7.25% unsecured notes Moodys Rating B1 No maintenance 350 S&P Rating CCC+ covenants on the bonds Moodys Rating…
Appendix Reconciliation and Other Financial Data Tables 2019 CSI Compressco LP 23
GasJack Applications Focused on Liquids Production GAPL Diagram GAPL Case Study BAIS Diagram BAIS Case Study GAPL was applied to a GasJack set of four wells targeting GasJack A GasJack unit was Compressor the Codell formation in…
Non-GAAP Reconciliation CSI Compressco - Adjusted EBITDA Reconciliation (In Millions) 2015 2016 2017 2018 TTI NetConsolidated Loss (146.6) (138.1) (40.5) (37.0) Interest expense, net 35.0 38.1 43.1 52.6 Provision of income taxes…
Non-GAAP Reconciliation CSI Compressco - Adjusted EBITDA & Distributable Cash Flow Reconciliation (In Millions) 2019-Q3 Net Loss (3.6) Interest expense, net 13.5 Provision of income taxes (0.4) Depreciation & amortization 18.5…
Non-GAAP Reconciliation 2019 Guidance CSI Compressco - Adjusted EBITDA & Distributable Cash Flow Reconciliation (In Millions) 2019(Mid- 2019 (Low ) 2019(High) Point) Net Loss (21.5) (19.5) (20.5) Interest expense, net 52.0 53.0…
Market Capitalization (thousands, except per unit amounts) Market Capitalization: CCLP Market price per unit on 11/26/2019 2.48 Units outstanding as of 11/05/2019 47,079 Market Capitalization 116,755 Enterprise Value: CCLP…
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