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AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp.

Western Energy Services Corp. · Jan 1, 2015 · 23 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. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 1
    AltaCorp Capital Institutional Investor Conference WRG January 2015
  2. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 2
    Westerns Strategic Growth Market Capitalization 447 Million January 8, 2015 3
  3. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 3
    Western Today (plus 1 rig under construction) (plus 3 rigs under construction) 4
  4. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 4
    Geographic Diversity Drives Strong Customer Base 5
  5. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 5
    High Quality Customer Base CANADIAN NATURAL RESOURCES 14% PROGRESS 7% ARC Other 6% 45% 150 Customers BONAVISTA 5% PENGROWTH 5% DEVON 5% ADVANTAGE BAYTEX OIL & GAS 4% 3% HUSKY ENERGY 3% CRESCENT POINT 3%…
  6. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 6
    Westerns Drilling Rig Fleet Western's Drilling Rigs* Western's Fleet by Depth…
  7. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 7
    Westerns Competitive Advantage Modern efficient fleet Small footprint and efficient moves Rig-up and drill efficiently Average age 7 years Automated pipe handling and hydraulic BOP handling Two 5,000 m ELR telescopic doubles under…
  8. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 8
    Premium Drilling Utilization and Day Rates Westerns premium drilling rig fleet has consistently realized above average utilization and industry leading day rates in Canada Canadian Drilling Day Rates (2) (3) Canadian Drilling…
  9. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 9
    Westerns Well Servicing Fleet One of the newest fleets in Canada Average age of the fleet 5 years 7th largest well servicing fleet in Mobile Canada Slants, 8* 12% Constructing 8th Slant Rig for Q1 Mobile Singles, 2015 32 Mobile…
  10. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 10
    Premium Service Rig Utilization Quality equipment and strong employee base drives higher utilization Eagle hourly rates are competitive but moderately lower than industry due to geographic rig mix Canadian Well Servicing Rig…
  11. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 11
    Quality Oilfield Rental Equipment Broad range of surface rental equipment for: Frac Services Well Completion Coil Tubing Services Drilling Larger customer base that includes Exploration & Production and oilfield service companies…
  12. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 12
    Operating Highlights Third Quarter Year to Date September 30 Operating Highlights 2014 2013 % Change 2014 2013 % Change Contract drilling Canadian Operations Rig fleet (end of period) 49 46 7% 49 46 7% Operating Revenue per revenue…
  13. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 13
    Corporate Overview Common shares Basic 75 Million Diluted 80 Million Current share price (as at January 8, 2015) 5.59 52 Week Range 4.91 11.70 Market capitalization (f.d.) (as at January 8, 2015) 447 Million Net debt 224 Million…
  14. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 14
    Financial Highlights Third Quarter Nine Months Ended September 30 Year Ended December 31 Financial Highlights (Thousands CDN) 2014 2013 % Change 2014 2013 % Change 2013 2012 2011 2010 Operating Revenue 117,960 95,597 23% 344,939…
  15. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 15
    Balance Sheet Overview Consolidated Balance Sheet ('000s) September 30, 2014 Cash and other current assets 133,224 Property and equipment 816,825 Goodwill and other 90,924 Total assets 1,040,973 Current liabilities 61,312 Long term…
  16. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 16
    2014 Capital Expenditures 120 Million Consolidated Capital Spending - Expansion vs. Maintenance & Consolidated Capital Spending Critical Spares By Entity Rotational Equipment 9% (11 million) Stoneham 18% Maintenance 20%…
  17. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 17
    2015 Budgeted Capital Expenditures 64 Million Consolidated Capital Spending Expansion vs. Maintenance & Rotational Consolidated Capital Spending by Equipment Entity Aero 12% Expansion 43% Eagle 13% Maintenance (28 million)…
  18. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 18
    Strategic Initiatives Stay financially flexible with a well structured balance sheet Remain focused on cost control Continue to offer a quarterly dividend Respond to strategic initiatives across all divisions Ensure safe and…
  19. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 19
    Appendix 20
  20. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 20
    Canadian Wells Operating Days (1) Well Licenses by Objective (2) 180,000 3,500 158,427 160,000 145,272 133,250 134,835 3,000 140,000 121,023 119,300 124,613 120,221 119,578 Number of Well Licenses 2,500 120,000 2,000 100,000…
  21. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 21
    Westerns Drilling Rig Depth Capacity WCSB Depth (m) % of Fleet WESC** % of Fleet of Rigs* < 760 22 3% - - 760 to 1,524 84 10% - - 1525 to 2,279 65 8% 2 4% 2,280 to 3,049 137 17% - - 308 38% 2 4% 3,050 to 3,799 263 33% 23 40% 3,800…
  22. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 22
    Leading Deep Driller in Canada 100% 4% 9% 13% 90% 20% 19% 13% 28% 80% 8% 22% 70% 20% 11% 60% 50% 96% 40% 78% 72% 65% 30% 61% 61% 20% 10% 0% Western Nabors Trinidad Precision Ensign Savanna Greater than 2,999m Between…
  23. AltaCorp Capital Institutional Investor Conferenc – Western Energy Services Corp. – slide 23
    Alex R.N. MacAusland Jeffrey K. Bowers President & CEO Senior Vice President, Finance & CFO Email: amacauslandwesc.ca Email: jbowerswesc.ca Office: 403.984.5932 Office: 403.984.5933 Cell: 403.819.9844 Cell: 403.875.8082

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