Our Commitment to Sustainability At Oil States, we endeavor to conduct ourselves with the highest ethical standards and integrity. We aim to protect the health and safety of our employees, while minimizing any negative impact to…
Technology-Focused, Energy Services Company Offshore/Manufactured Products designs, manufactures and sells capital equipment utilized on floating production systems, subsea pipelines, offshore drilling rigs and vessels, and for…
Cost Mitigation Activities Taken in Response to Market Dislocations Caused by COVID-19 Pandemic COVID-19 pandemic-driven market disruptions and demand destruction led to a collapse in crude oil prices in 2Q20, with WTI averaging 28/barrel…
Financial Position 2Q20 net interest expense of 4 million Debt Maturity Profile at 6/30/20 o Cash interest totaled 2 million (U.S. dollars in millions) o Non-cash debt discount and deferred financing costs of 2 million…
Amended Revolving Credit Facility Amended credit agreement effective June 17, 2020: o Lender commitments reduced from 350 million to 200 million, no change in maturity date (January 30, 2022). o Suspension of financial covenants…
Strong History of Generating Free Cash Flow Long history of generating free cash flow through cycles (nearly 600 million generated from continuing operations 2014 2Q20); free cash flow generated in each and every year since activity…
Global Footprint with Blue-Chip Customer Base Oil States global footprint supports deepwater/international and U.S. shale driven activity o Provides diversification and growth potential o Products and services provided to a blue-chip…
Offshore/Manufactured Products 10
Product and Service Offering Drivers Through our 25+ global manufacturing and service locations, we provide and support: Offshore Field Developments Engineered Equipment for Production Platforms Subsea Pipeline Equipment Primarily…
Historical Backlog Deepwater production infrastructure and large development projects are generally longer-term in nature, based on through-cycle economics, and less sensitive to commodity price volatility Major project bidding and…
Bookings Trends & Revenue Components Backlog totaled 235 million at June 30, 2020 creating revenue visibility o Historically 75%+ of backlog turns into revenues in forward twelve months Short-cycle products comprised of: o Elastomer…
Major Project Award Opportunities Offer Long-Cycle Growth Attractive opportunity to Global Floating Platform Installations FPS participate in the early stages of the improving 18 offshore production system installation outlook…
Offshore Wind Long-Term Targets By 2030, global installed capacity is expected to reach 118GW, albeit varying in development progress. UK currently has the worlds largest 2030 offshore wind target of 40GW, with Leasing Round 4…
Deepsea Mining Riser Award Cosmos Shoji Co Ltd, Japan have awarded Oil States a contract to supply a Deepsea Mining Riser System. The system is based upon Oil States proprietary, industry-leading Merlin Connector technology.…
Well Site Services 17
Well Site Services Drilling Completion Services Wireline/ Frac/Pressure Extended Drilling Coiled Tubing Pumping Reach Flowback Support Support Thru Tubing Nine rigs serving Strategy: customers in the Rocky Mountains region o…
Broad North American Coverage of U.S. Rig Region Locations Count (1) S. Texas, 7 136 Permian Northeast 5 31 Mid- Continent 7 40 Gulf Coast 4 13 (2) Rockies 4 14 Manufacturing/ 1 OKC Corporate/ 2 20 Other…
Oil States Completion Services Offerings Completion Services offers differentiated proprietary technology, expertise and know-how, including wireline support, frac stacks, isolation tools, Tempress Tools (extended reach technology),…
Oil States Completion Services Offerings Flowback Combination Test Units Test Separators Flare Stacks Line Heaters Flow Iron Dual Plug Catchers Under Balanced Drilling Sand Separators Flowback Manifolds Tempress Thru…
Downhole Technologies 22
Downhole Technologies Overview (wholly owned subsidiary) was founded in 2004 as a researcher, developer and manufacturer of consumable engineered products primarily used in completion applications Provider of proprietary consumable…
Downhole Technologies Product Offerings Engineered Perforation Solutions Completion Products Legacy Oil Tools Unconventional andCompletion Technology SolutionsBroad range of consumable Pioneered advancements in perforation…
Growing Completion Intensity in the U.S. Customer adoption of advanced completions technology is driving demand for consumable completion products (driven by longer lateral lengths, increased frac stages and more perforation clusters…
Recent Product Developments and Market Initiatives Recently commercialized: premium integrated gun system, STRATX (amongst an initial group of customers), open-architecture VaporGun integrated gun system, and EPIC addressable switch o…
Conclusion 27
Outlook for Oil States Improved major offshore project FID outlook over the long-term will benefit our Offshore/Manufactured Products segment Long history of generating free cash flow through cycles Capital allocation hierarchy…
Appendix 29
Summary Financial Position (USD in millions, except percentages and ratios) 6/30/2020 Net Working Capital (excludes cash, current operating lease liabilities 304 and current portion of long-term debt) Current Portion of Long-Term…
Non-GAAP EBITDA Reconciliation Six Months (USD in millions) For the Year Ending December 31, Ending 2014 2015 2016 2017 2018 2019 6/30/20 Well Site Services Operating Income (Loss) 178 (44) (108) (59) (17) (55) (168) Other Income 3…
Non-GAAP EBITDA Reconciliation (Continued) The terms EBITDA and Segment EBITDA consist of operating income (loss) plus depreciation and amortization expense, other income (loss), and adjustments for certain other items such as non-cash…
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