Bank of America 2020 Leveraged Finance Conference December 1, 2020 2020 CSI Compressco LP 1
CSI Compressco Overview CSI Compressco LP (NASDAQ: CCLP) 40+ years(1) supporting the oil and gas industry 1.2M HP in compression service fleet operating at 80.3% utilization (at 9/30/2020) TETRA Technologies, Inc. (NYSE: TTI) Owns…
Q3 2020 Highlights & Current Events Revenue decreased 1% in Q3-2020 from Q2, excluding new equipment sales Adjusted EBITDA(1) improved 0.7M sequentially Adjusted EBITDA margin (1) improved 700 basis points to 35.1% Compression…
Refining the Business Model Prioritizing core, higher margin services businesses and eliminating volatility from new equipment sales 2020-Q3 TTM Revenue Excl. Equipment Sales Compression & Related Services 23% 2020-Q3 TTM 313M…
Compression Market Despite a 2.9% forecasted dip in 2021 vs 2020, installed compression services HP remains relatively stable long term Centralized Gas Lift is now the largest segment of the compression services market Gas Lift…
Multiple Customer Touch Points 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…
Compression Services Diversified Portfolio Up to 2,500HP size, supporting all compression needs 90% of operating fleet HP is reciprocating and rotary screw compression 57% of operating fleet is large HP category (1,000HP), up…
CCLP is Well Positioned for the Coming Market Cycle Compression Services is a cost effective solution for E&Ps drastically reduce capital budgets producers to increase base production, both liquids and gas, = lower drilling and…
Compression Services Fleet Q3 2020 HP Deployed By Size 62% Utilization 87% Utilization 9% 1,000 HP 101-1,000 HP 0-100 HP 34% 57% 76% Utilization 0-100 HP 101-1000 HP 1,000 HP Deployed HP & Utilization Trends 1,100 95%…
Evolution of Compression Fleet Compression Services Margins % Migrating Towards Larger HP Units Total HP by Category (23)% (9)% +30% Margin improvement strategy based on unit clustering, Focused on Permian Basin and…
Focused on Most Prolific Producing Basins Focused on key shale oil plays with customers with strong balance sheets 75% of horsepower located in Permian, Eagle Ford, and SCOOP/STACK 6% Bakken 6% 42% Niobrara Utica 19%…
HelixTM - Digitally enhanced compression telemetry system A leading-edge digital platform providing customers with unparalleled compressor performance, mechanical availability and user experience with Helix - Digitally Enhanced…
Environmental, Social, Governance (ESG) Environmental Social Natural gas focused, which is Stable workforce expected to play role in reducing Robust and regular training programs CO2 emissions(1) Actively participate with customers…
Financial Overview 2020 CSI Compressco LP 15
Financial Overview Well Short-term positioned to capitalize outlook on thehas for compression growing compression weakened market but long-term fundamentals are intact Revenue (M) Adjusted EBITDA(1) (M) 150 138 136 124 40 115…
Balance Sheet Debt Maturity 600 400M, 7.5% secured notes No maintenance 500 S&P Rating B+, covenants Moodys Rating B3 400 Recent 81M, 7.25% refinancing of In Millions 300 unsecured notes 156M, 10% 2ndlien 10% cash…
Bank of America 2020 Leveraged Finance Conference December 1, 2020 2020 CSI Compressco LP 18
Appendix Reconciliation & Other Financial Data Tables 2020 CSI Compressco LP 19
Market Capitalization (thousands, except per unit amounts) Market Capitalization: CCLP Market price per unit on 11/24/2020 0.90 Units outstanding as of 10/30/2020 47,352 Market Capitalization 42,617 Enterprise Value: CCLP…
Loading...
