Independence Contract Drilling 4D Global Energy Investor Day October 10, 2014
Independence Contract Drilling Overview U.S. Land-Based Contract Driller Providing Premium Services Independence Contract Drilling (ICD) Overview ICDs ShaleDrillerTM Rig ICD assembles, owns and operates a premium rig fleet comprised…
Historical Timeline 2016 2015 Nine Rig Planned Build 2014 Schedule Seven Rig Planned Build 2013 Schedule JANUARY 2012 Seventh Rig Operational ICD TODAY (First Fully Modular Rig) JANUARY FEBRUARY Well-Capitalized…
Major Secular Shift in Unconventional Development is Underway Moving from Delineation Drilling to Manufacturing Resource Development The shift to development over the past four years has U.S. Land Rig Count been substantial: Rapid…
Large Operators are Leading Unconventional Resource Capture Long-Term Investment Horizons; Capable of Drilling Through the Cycles The North American shale revolution has driven massive U.S. Unconventional Asset Deals Since 2008 by…
Ongoing Resource Play Development Driving a Rig Replacement Cycle Operator Demand has Defined the Preferred Rig for Resource Exploitation = Pad Optimal Variable frequency drive allows for precise computer ICDs Standardized Fleet is Fit…
Pad Optimal AC Drilling Rigs are in Short Supply Producer Demand Driving a U.S. Rig Replacement Cycle Rig Replacement Cycle Majority of the existing U.S. rig fleet is made Tremendous Increase in AC Rig Use since 2008 up of legacy…
Continue to be a Low Cost Rig Provider for the E&P Sector Vertically integrated business model provides a In-House Rig Construction Process is a Key Differentiator compounding capital advantage vs. purchasers of third party rigs -…
ICDs Compelling Value Proposition to E&P Customers Solution to Producers Most Economically Impactful and Technically Complex Investments Core Producer ICDs Value Proposition Requirements Allows customers to drill faster and…
ICD is Poised to Deliver Substantial Value to Investors Large Operators are Leading Unconventional Resource Capture ShaleDrillerTM Offers a Major Secular Shift in Compelling Value Unconventional Proposition to E&P Development…
Financial Strategy and Capitalization Financial Flexibility with a Large Financial Strategy Cash Balance and Undrawn Revolver post IPO millions Maintain conservative balance sheet - Target a normalized Debt/EBITDA ratio of less…
Second Quarter 2014
Second Quarter Summary Three Months Ended June 30, Six Months Ended June 30, 2014 2013 2014 2013 Revenues 14,661 9,784 28,210 18,041 Costs and expenses Operating costs 9,283 6,787 18,060 12,724 Selling, general and administrative…
Second Quarter Summary Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2014 2013 2014 2013 Net income (loss) 1,556 (669) (2,149) (2,365) Add back: Income tax provision (benefit) 667 (432) (1,218)…
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