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Cowen and Company 4th Annual Conference – Rpc Inc.

Rpc Inc. · Dec 3, 2014 · 21 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. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 1
    Clint Walker Executive VP and General Manager, Cudd Energy Services Jim Landers Vice President of Corporate Finance
  2. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 2
    Corporate Profile NYSE: RES. Publiclytraded since 1984 Recent Share Price (November 25, 2014) 15.84 Annual Dividend Yield 2.7% Market Capitalization 3.4 billion Average Daily Volume (YTD 2014) 1,069,000 Large Insider…
  3. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 3
    Position within Evolving Oilfield Services Market Primarily U.S., LandBased, Serving Large Independents in the Drilling and Completion Markets RPCs Largest Service Lines serve the Predominantly Unconventional Completion Markets…
  4. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 4
    Position within Evolving Oilfield Services Market (cont.) Focused on Return on Invested Capital Standard of Measurement for Strategic Decisions Conservative Capital Structure Consistently Lower Leverage than Peer Average Continuity of…
  5. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 5
    RPCs Evolution Throughout the Oilfield Cycles Pre 1973 1970s 1984 1980s 1990s Patterson Services founded as a Cudd Pressure Control founded. RPC purchased Chaparral Boats in rental tool, mud service, and Cudd acquired by Rollins.…
  6. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 6
    RPCs Domestic Facilities Corporate Bakken Shale CUDD Pressure Control Patterson ThruTubing Solutions Well Control Marcellus Shale Utica Shale Significant Markets for Woodford RPC, Inc. Fayetteville West Texas (Permian)…
  7. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 7
    Top Service Lines Service Line Revenue as a Percentage of Consolidated Revenues 12 Months Ended December 31, 2013 Pressure Pumping T hru T ubing Solutions 55% (Downhole T ools) Coiled T ubing 16% Rental T ools Snubbing -…
  8. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 8
    Pressure Pumping Wellmaintained, high quality fleet concentrated in serviceintensive oilfield basins Demonstrated ability to operate efficiently and effectively. Positioned to benefit from increasing activity levels. 8 in US…
  9. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 9
    RPCs Pressure Pumping Fleet Distribution Mirrors Current New Wells Drilled and Presence in ServiceIntensive Shale Plays 60% 50% RPC Pressure Pumping Distribution 40% Well Count, Q3 2014 * 30% 20% 10% 0% Permian…
  10. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 10
    ThruTubing Solutions ThruTubing Solutions (Downhole tools and motors) provides services used in unconventional completion operations Specializes in accomplishing multi stage completions in unconventional wells. Significant…
  11. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 11
    Coiled Tubing 53 units used to enter new and existing wells to perform a variety of services. Approximately 44 are 2 in diameter. Growing utilization with unconventional plays and larger diameter coiled tubing strings Q4 2013…
  12. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 12
    Patterson Rental Tools Rents a variety of tools and products required during drilling or reentering a well 4% of 2013 RPC revenues 2% market share Currently Leveraged to Liquids and Oil Related Plays in Bakken and Eagle Ford…
  13. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 13
    Other Workover Services Nitrogen Used in a variety of oilfield applications and several nonoilfield industrial uses 81 nitrogen units, 4% of 2013 revenues Snubbing / Hydraulic Workover Allows workover work to be performed on live…
  14. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 14
    Third Quarter 2014 Financial Highlights ( millions) Record Revenues: 620.7; Operating Profit: 106.7; Net Inc. 64.9; EBITDA: 163.4 Q3 2014 Compared to Q3 2013 26.4% Revenue increased due to higher activity and proppant volumes.…
  15. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 15
    RPC Third Quarter 2014 Update Completion Service Intensity Continues to Grow: Greater Rig Efficiency, More Frac Stages, More Proppant per Stage 105.0 U.S. Land Rig Count and Well Count (Q1 2012 = 100) 103.0 (Source: Baker Hughes,…
  16. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 16
    Debt to Total Book Capital 35% Debt as a percentage of total capital 30% 25% 20% 15% 10% 5% 0% 07 07 08 09 10 10 11 12 13 13 14 1 4 3 2 1 4 3 2 1 4 3 Q Q Q Q Q Q Q Q Q Q Q RPC continues to be conservatively…
  17. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 17
    Historical Dividends RPC, Inc. Dividends Per Share through 2014 (* Excludes 4th Quarter 2012 Special Dividend of 0.20 per share) 0.12 Quarterly Dividend ( per share) 0.10 0.08 0.06 0.04 0.02 Dec2012 *…
  18. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 18
    Sources and Uses of Cash RPC Summarized Cash Flows 2006 through Q3 2014 ( 000's) 2,200 1,700 1,200 700 200 Beginning Cash Operating Cash Net Borrowings on Other Financing Net Capex Dividends Paid Net Repurchase of…
  19. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 19
    Return on Invested Capital * 50% 45% RPC Peers ** 40% 35% 30% 25% 20% 15% 10% 5% 0% 01 02 03 04 05 06 07 08 09 10 11 12 13 20 20 20 20 20 20 20 20 20 20 20 20 20 * Calculated…
  20. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 20
    Contact Us Corporate Headquarters: RPC, Inc. 2801 Buford Highway, Suite 520 Atlanta, GA 30329 Phone: 4043212140 Fax: 4043215483 Email: irdeptrpc.net Investor website: www.rpc.net Above: Operational Headquarters, The…
  21. Cowen and Company 4th Annual Conference – Rpc Inc. – slide 21
    Appendix A EBITDA Reconciliation (000s) Periods ended, (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, (in thousands except per share data) June 30, 2014 2014 2013 2014 2013 Reconciliation of Net…

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