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Investor Update – Secure Energy Services

Secure Energy Services · May 1, 2014 · 30 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. Investor Update – Secure Energy Services – slide 1
    INVESTOR UPDATE www.secure-energy.com May 2014 TSX: SES 1
  2. Investor Update – Secure Energy Services – slide 2
    SECURE ENERGY SERVICES (all dollar values are in Canadian dollars) TSX Symbol SES Market Capitalization (in millions)* 2,309 Basic Shares Outstanding (in millions)* 117 Enterprise Value (in millions)* 2,473 52-Week Price Range* 12.83 -…
  3. Investor Update – Secure Energy Services – slide 3
    OIL AND GAS INTEGRATED SERVICES 3 Divisions Providing Fluids and Solids Solutions PRD Processing, Recovery and Disposal OS OnSite Services DS Drilling Services 3
  4. Investor Update – Secure Energy Services – slide 4
    VALUE CHAIN DRIVING NEW SERVICES DRILLING Drilling fluid close loop systems Horizontal fluid storage tanks Invert blending and storage at FSTs Recycling of hydrocarbon drilling mud Barite processing plant COMPLETIONS Completion…
  5. Investor Update – Secure Energy Services – slide 5
    LONG TERM GROWTH DRIVERS Drilling activity focused on high impact resource plays Longer and technically more challenging wells Well density, producing wells and water volumes are increasing Increasingly stringent environmental and…
  6. Investor Update – Secure Energy Services – slide 6
    BUSINESS DRIVERS DRILLING ACTIVITY Western Canada Drilling Activity 30,000 2.5 25,000 Greater volumes 2.0 of drilling waste and completion fluid 20,000 waste per well (000s metres per well) 1.5 (000s metres)…
  7. Investor Update – Secure Energy Services – slide 7
    BUSINESS DRIVERS WELL COUNT WCSB Oil & Gas Well Count and Associate Water Production 3,000,000 300,000 Maturing Oil and Gas 2,500,000 250,000 Reservoirs with mounting water-cuts (5-6% growth / year) Produced Water Volume…
  8. Investor Update – Secure Energy Services – slide 8
    PRD DIVISION Crude Oil Emulsion Class Ib Waste Water Drilling Fluids Recycling Treating Disposal Tank and Equipment Solids Processing Class II Produced Water Washing Crude Oil Disposal Rail Transloading Terminalling Frac Fluids…
  9. Investor Update – Secure Energy Services – slide 9
    PRD FULL SERVICE TERMINAL (FST) 1 Produced Water & Crude Oil Unloading 3 Crude Oil Treater 5 Treated Solids Pad 2 Disposal Well 4 Waste Receiving 6 Invert Mud Blending Plant 6 3 2 5 4 1 9 Drayton Valley FST
  10. Investor Update – Secure Energy Services – slide 10
    PRD FULL SERVICE RAIL (FSR) FSR Full Service Rail: Shipping raw crude vs. diluted FSR Treating and disposal water services Storage/buffer capabilities Close to the well head Ability to switch pipelines and/or rail Crude oil…
  11. Investor Update – Secure Energy Services – slide 11
    PRD CLASS II OILFIELD LANDFILL Engineered oilfield landfill cells have a high-quality, multi-layer liner, liner protections system and environmental monitoring programs. Types of Non-Hazardous Waste: Treated FST Solids Drill Cuttings…
  12. Investor Update – Secure Energy Services – slide 12
    PRD CANADIAN & US FOOTPRINT 2013: 26 facilities 2014 additions: Edson FST Keene FST 1 FST 1 FSR (Rycroft) 2 SWDs 1 LF Brazeau expansion FULL SERVICE STAND ALONE WATER LANDFILLS (7) TERMINAL (13) DISPOSAL FACILITIES…
  13. Investor Update – Secure Energy Services – slide 13
    PRD MARKET SHARE Producers continue to outsource their water and waste handling needs 5% 13% 4% 12% 46% 20% 19% 58% 6% 2009 2014 (est.) 17% Producers Secure Tervita Newalta Other Source: Internal estimates 13
  14. Investor Update – Secure Energy Services – slide 14
    OS DIVISION Environmental Container Services Integrated Water Services NORMS Management Solutions Civil Earthworks Consulting Remediation and Demolition and Reclamation Pipeline Services Abandonment 14
  15. Investor Update – Secure Energy Services – slide 15
    ENVIRONMENTAL PROJECT MANAGEMENT Full cycle pipeline integrity services Extensive water course crossing services to inspect or repair pipelines Full cycle remediation and reclamation services Technical and environmentally…
  16. Investor Update – Secure Energy Services – slide 16
    OS INTEGRATED WATER SOLUTIONS Engineered Water Recycling Facility Provide source and engineered fluids Pumping and heating Complete in field water management Infield Water Management Recycling fluids and reducing disposal…
  17. Investor Update – Secure Energy Services – slide 17
    DS DIVISION Drilling & Completion Fluids Patented SAGD Mud Solids Control & Rentals Lab Services Oil & Water Based Mud Invert Blending and Reconditioning 17
  18. Investor Update – Secure Energy Services – slide 18
    DS DRILLING DRILLING FLUIDS Innovative, versatile and effective fluid systems and solutions for technically challenging wellbores Water Based Oil Based SAGD / Heavy Oil Proprietary & Patented Systems Barite processing plant in…
  19. Investor Update – Secure Energy Services – slide 19
    DS SOLIDS CONTROL & RENTAL EQUIPMENT MANAGING THE BACK END OF THE RIG: 80 Centrifuges Drying Shakers Hydraulic Stands Premix Tanks Floc Tanks Dewatering Packages Bead Recovery Units Barite Recovery Units 360 Target Tanks -…
  20. Investor Update – Secure Energy Services – slide 20
    DS RECYCLING OIL-BASED MUD (OBM) SYNERGIES OBM Used to Drill Well Recycle Oil from OBM OBM Waste Generated Reduce Transportation Costs Integrated Solutions to Manage Fluids and Solids OBM Waste Delivered to FST OBM…
  21. Investor Update – Secure Energy Services – slide 21
    DS FOOTPRINT LETHBRIDGE 1 BARITE DRILLING FLUIDS INVERT DRILLING FLUIDS HUB (1) PROCESSING PLANT STOCK POINTS (17) BLENDING & RECONDITIONING FACILITIES (4) 21
  22. Investor Update – Secure Energy Services – slide 22
    CORPORATE HISTORICAL GROWTH 2009-2013 EBITDA CAGR: 111% 2013 EBITDA 138MM 2011 2009 EBITDA 60MM OS EBITDA 7 MM DS DS PRD PRD PRD 59 Employees 504 Employees 1,000 Employees 10 Facilities 14 Facilities 26 Facilities PRD…
  23. Investor Update – Secure Energy Services – slide 23
    PRD FINANCIAL PERFORMANCE QoQ YoY Q1 2014 Q1 2013 2013 2012 (in 000s) change change Revenue1 63,302 44,354 43% 179,343 125,833 43% Operating Margin (%) 63% 67% (4%) 62% 61% 1% G&A 6,767 4,959 36% 23,247 12,392 88% EBITDA2 34,006 25,220…
  24. Investor Update – Secure Energy Services – slide 24
    OS FINANCIAL PERFORMANCE QoQ YoY Q1 2014 Q1 2013 2013 2012 (in 000s) change change Revenue 23,647 9,514 149% 54,444 23,547 131% Operating Margin (%) 28% 21% 7% 19% 33% (14%) G&A 1,763 1,105 60% 5,784 3,857 50% EBITDA1 4,372 898…
  25. Investor Update – Secure Energy Services – slide 25
    DS FINANCIAL PERFORMANCE QoQ YoY Q1 2014 Q1 2013 2013 2012 (in 000s) change change Revenue 118,683 93,254 27% 308,160 242,812 27% Operating Margin (%) 26% 24% 2% 25% 24% 1% G&A 7,854 6,150 28% 23,549 23,011 2% EBITDA1 23,245…
  26. Investor Update – Secure Energy Services – slide 26
    CORPORATE FINANCIAL RESULTS (in 000s except share and per share data) Three Months Ended Mar 31st Year Ended Dec 31st Comparison Q1 2014 Q1 2013 % Change 2013 2012 % Change Corporate Results Total Revenue* 205,632 147,122 40% 541,947…
  27. Investor Update – Secure Energy Services – slide 27
    CORPORATE CAPITAL SPENDING BY YEAR EBITDA Contribution 300 250 46 63 200 CAPEX (MMs) 188 36 150 225 100 195 171 12 50 97 52 0 2010 2011 2012 2013 2014f Organic Acquisitions 12-18 month lag from Organic…
  28. Investor Update – Secure Energy Services – slide 28
    CORPORATE 2014 CAPITAL FORECAST PRD DIVISION: 2013 Carry-Over Capital: 20 MM 15% Growth Capital: 155 MM Expansion Capital: 45 MM Sustaining Capital: 5 MM 9% 205 MM DS DIVISION: Growth Capital 14 MM Acquisitions 12 MM 76% OS…
  29. Investor Update – Secure Energy Services – slide 29
    CORPORATE BALANCE SHEET STRENGTH March 31, 2014 (MMs except ratios) Long Term Debt 219 Cash & Available Debt* 172 Annual Dividend Commitment ** 20 Capital Budget 271 R12 EBITDA 154 Consolidated Debt to EBITDA Ratio 1.5x Long Term…
  30. Investor Update – Secure Energy Services – slide 30
    SECURE ENERGY SERVICES SUMMARY Organic growth in key underserviced and capacity constrained markets Continue to encourage oil and gas producers to outsource Expand complementary and recycling services at Facilities…

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