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Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc.

Basic Energy Services Inc. · Mar 4, 2014 · 24 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. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 1
    TM OUR LIFES WORK IS THE LIFE OF THE WELL Raymond James 35th Annual Institutional Investors Conference Orlando, FL March 4, 2014 NYSE: BAS
  2. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 2
    Overview of Basic Energy Services Completion & Fluid Services Well Servicing Contract Drilling Remedial Services LTM revenue = 499mm LTM revenue = 338mm LTM revenue = 364mm LTM revenue = 56mm 297k HHP pumping 1,003 trucks 425 rigs…
  3. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 3
    Extensive Footprint in Prolific Basins Portfolio approach expanding suite of services within several active geographic regions Significant exposure to major oil and gas markets 70% revenue exposure to oil and liquids activity Core…
  4. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 4
    Significant Presence in the Permian Basin Basics presence in the Permian Basin dates Leading Permian Presence to its founding in 1992 NEW MEXICO Levelland New Mexico Shelf Provides a significant market for the full - Abo range of…
  5. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 5
    Diversified Customer Base Top Ten Customers for 2013 Represented 35% of Revenues Apache EOG Resources Anadarko Petroleum Whiting Petroleum ExxonMobil Concho Resources Chesapeake Energy BP America Pioneer Natural Resources…
  6. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 6
    Current Investment Strategy 2014 Capital Plan of 215 million Other Other 4% 7% Completion 39% Expansion 40% 53% & Remedial 57% Services Fluid Services Maintenance Capital spending plans can be adjusted quickly +/- depending on…
  7. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 7
    Most Recent Commentary and Guidance 2014 Comments and Outlook For 2014, we expect that our customers activity and spending to be up in the mid-single digit percentages from 2013. We are seeing our customers executing their 2014 capital…
  8. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 8
    Summary Financials in millions, except per share data 2008 2009 2010 2011 2012 2013 Revenues 1,005 527 728 1,243 1,375 1,263 Segment profit 392 137 221 477 472 395 % of revenue 39% 26% 30% 38% 34% 31% Adjusted EBITDA 1 277 34 114…
  9. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 9
    Enhanced Balance Sheet and Liquidity Capitalization as of December 31, 2013 in millions Cash and cash equivalents 112 7.75% Senior Notes due 2022 B2/B+ 300 No required principal 7.75% Senior Notes due 2019 B2/B+ 476 payments until…
  10. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 10
    Quarterly Financial Performance millions EBITDA Margin 400 35% 350 30% 300 25% 250 20% 200 15% 150 10% 100 50 5% - 0% 1Q09 1Q10 1Q11 1Q12 1Q13 Adjusted EBITDA Revenue EBITDA % of rev 10
  11. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 11
    Quarterly Segment Data Completion & Remedial Services Revenues Segment Profit 200 80 60% 70 50% 150 60 40% millions 50 millions 100 40 30% 30 20% 50 20 10 10% 0 0 0% 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12…
  12. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 12
    Quarterly Segment Data Well Servicing Revenues Segment Profit 120 50 50% 100 40 40% 80 millions millions 30 30% 60 20 20% 40 20 10 10% 0 0 0% 1Q04 1Q05 1Q06 1Q07 1Q08 1Q09 1Q10 1Q11 1Q12 1Q13 1Q04 1Q05 1Q06 1Q07…
  13. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 13
    Supplemental Information
  14. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 14
    Specialized Completion & Remedial Services Provides support to drilling, workover and production processes Pumping services for cementing, acidizing, squeeze-cementing (workover), fracturing and re-fracturing Fishing tools and rental…
  15. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 15
    BAS Quarterly Pumping Services Jobs and Revenue Revenue Number of Jobs millions 2,500 120 2,250 100 2,000 1,750 80 1,500 1,250 60 1,000 40 750 500 20 250 - 0 1Q08 1Q09 1Q10 1Q11 1Q12 1Q13 of jobs : Cement Acid &…
  16. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 16
    Basic Provides a Full Range of Fluid Handling 1,003 Trucks by Market Area Mid-Continent Rocky Mtns 7% 14% Transportation and disposal of salt water Permian produced as a by-product of oil and gas Gulf Coast 15% 46% Basin…
  17. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 17
    Fluid Service Truck Hours Truck Hours Avg Number of Trucks 215,000 1,025 205,000 1,000 975 195,000 950 185,000 925 175,000 900 875 165,000 850 155,000 825 145,000 800 775 135,000 750 125,000 725 115,000 700 Jan09 Jul Jan10 Jul…
  18. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 18
    Fluid Service Revenue per Truck Trends Revenue Per Fluid Service Truck Recent Revenue per Truck Trend 000s 000s 391 380 353 305 89 89 267 88 88 86 2009 2010 2011 2012 2013 4Q 1Q13 2Q 3Q 4Q SWD expansion allows us to…
  19. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 19
    Well Servicing Rigs Facilitate Down Hole Activity 425 Rigs by Market Area Stacked 2% Marcellus Ark-La-Tex 8% 9% Permian Mid-Continent 11% 45% Basin 12% Gulf Coast 13% Service Work - routine maintenance of Rocky Mtns. down-hole…
  20. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 20
    Well Servicing Rig Utilization Rates Rig Hours Utilization Rate 85,000 90% 75,000 80% 65,000 70% 55,000 60% 45,000 50% 35,000 40% 25,000 30% Jan09 Jul Jan10 Jul Jan11 Jul Jan12 Jul Jan13 Jul Jan14 Rig Hours Utilization Rate…
  21. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 21
    Well Servicing Revenue per Rig Hour Trends Revenue Per Well Servicing Rig Hour Recent Revenue per Rig Hour Trend 397 404 393 399 408 404 404 380 331 319 2009 2010 2011 2012 2013 4Q 1Q13 2Q 3Q 4Q Revenue per rig hour has…
  22. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 22
    Contract Drilling Diversifies Service Offering Fleet of 12 drilling rigs in the Permian Basin Market Area Permian Basin Two 1,200HP SCR rigs (to 16,000 feet and horizontal) Typical drilling locations Three 1,000HP rigs (8,000 to…
  23. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 23
    Basic Investment Highlights Diversified Service 4 business segments, balanced across the life cycle of the well Offerings Geographic and business line diversity Located in basins with high liquid yields and attractive economics…
  24. Raymond James 35th Annual Institutional Investors Conference – Basic Energy Services Inc. – slide 24
    Explanatory Information Adjusted EBITDA means earnings before interest, taxes, depreciation, amortization., gain or loss of disposal of assets and any non-recurring items. Adjusted EBITDA is used as an supplemental financial measure by…

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