Barclays 2014 CEO Energy-Power Conference September 2-3, 2014
Patterson-UTI Energy is a leading provider of contract drilling and pressure pumping services 3 Contract Drilling High quality fleet of land drilling rigs including 137 APEX rigs Leader in walking rig technology for pad…
Pressure Pumping High quality fleet of modern pressure pumping equipment A leader in natural gas bi-fuel technology Strong reputation for regional knowledge and efficient operations Components of Revenue Pressure Pumping…
Investing in Our Drilling Rig Fleet Contract Drilling Capital Expenditures and Acquisitions ( in millions) 785 775 745 656 531 540 505 395 361 2006 2007 2008 2009 2010 2011 2012 2013 2014E More than 4.5 billion invested…
Large Geographic Footprint PTENs Active U.S. Land Drilling Rigs as of September 2014 Rockies 33 Rigs Mid-Continent Appalachia 26 Rigs & Midwest 36 Rigs Permian Basin North Texas 55 Rigs 7 Rigs South Texas East…
Increasing APEX Drilling Activity Active APEX Rig Count 140 120 100 80 60 40 20 0 11 PTEN Relative Rig Count by Rig Class APEX Other Electric Mechanical 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%…
Greater Stability of Utilization APEX Rig Utilization 120% 100% 80% 60% 40% 20% 0% 13 Improving Average Revenue Per Day Patterson-UTI Total Average Revenue Per Day 26,000 24,000 22,000 20,000 18,000…
EBITDA Contribution from High Specification Rigs APEX & Other Electric Mechanical 2010 2011 2012 2013 2014 Preferred rigs account for approximately 89% of Contract Drilling EBITDA 15 Excludes early-termination revenues during…
Continued Demand for APEX Rigs U.S. Rig Count % by Drilling Type 80% 70% 60% 50% 40% 30% 20% 10% 0% % Horizontal % Vertical 17 Source: Baker Hughes North America Rotary Rig Count Continued Demand for APEX Rigs Total…
Consolidated Segment of Industry High-Specification Rigs by Owner Type Others Next 5 Largest Big 3 Public U.S. Drillers Land Drillers Big 3 U.S. land drillers have almost 70% of the high specification rigs in the U.S.…
APEX WALKING Rigs Capable of walking with drill pipe and collars racked in derrick Full multi-directional walking capability Walking times average 45 minutes for 10 15 well spacing 21 21…
APEX-XK Rig Walking on Pad Video of APEX-XK Rig http://patenergy.com/drilling/technology/apexwalk/ 23 23 The APEX-XK Enhanced mobility including more efficient rig up and rig down Greater clearance under rig floor for…
Enhancing our Position in Pad Drilling Walking Systems Can be Added to Any Rig in Our Fleet Allowing for True Multi-Directional Pad Drilling Capabilities 25 25 Enhancing our Position in Pad Drilling…
Early Adopter of Natural Gas Engines http://patenergy.com/drilling/technology 27 27 Using Natural Gas as a Fuel Source First contract driller to use GEs Waukesha natural gas engines on a modern land rig 43 rigs currently…
Pressure Pumping Investing in Pressure Pumping Pressure Pumping Capital Expenditures and Acquisitions ( in millions) 289 285 198 194 123 61 41 48 43 2006 2007 2008 2009 2010 2011 2012 2013 2014E Approximately 1…
Growing Pressure Pumping Business Investments in Pressure Pumping Have Increased Fleet Size and Quality Pressure Pumping Horsepower (000s) 945 1000 800 600 400 65 200 0 2006 2007 2008 2009 2010* 2011 2012 2013 2014E…
A Leader in Bi-Fuel Technology Engines can burn a fuel mix comprised of up to 70% natural gas Comparable torque and horsepower as an all diesel engine Reduces operating costs by lowering fuel costs Good for environmental…
A Leader in Bi-Fuel Technology One of the largest bi-fuel frac fleets in the Marcellus Approximately 1,000 stages completed using natural gas as a fuel source Replaced more than 547,000 gallons of diesel with cleaner burning…
Financial Flexibility Investing in Our Company Capital Expenditures and Acquisitions ( in millions) 1,100 976 1,012 974 637 662 598 445 453 2006 2007 2008 2009 2010 2011 2012 2013 2014E 38 19
Strong Financial Position History of returning capital to investors Cash Dividend Initiated cash dividend in 2004 Recently announced doubling of quarterly cash dividend to 0.10 per share Stock Buyback Total of 856 million…
Strong Financial Position Net Debt to Capital Ratio 50% 40% 30% 18% 17% 20% 15% 13% 14% 6% 10% 2% 0% -4% -2% -10% 2006 2007 2008 2009 2010 2011 2012 2013 2Q14 Year End 600 million of debt not due until at least 2020…
Why Invest in Patterson-UTI Energy Continuing Transformation Committed to high-spec land rigs where demand remains strong Creating value through focus on well site execution Technology leader Leader in walking rigs for pad…
Additional References Active in Unconventional Plays PTENs Active Rigs in Unconventional Areas as of September 2014 Bakken 20 Rigs Marcellus 20 Rigs Pinedale Utica 4 Rigs 16 Rigs Piceance Woodford 2 Rigs 2 Rigs…
Term Contract Coverage Based on term contracts in place as of July 24, 2014 An average of 149 rigs expected under term contract in the third quarter of 2014 An average of 138 rigs expected under term contract during the second half…
Non-GAAP Financial Measures PATTERSON-UTI ENERGY, INC. Non-GAAP Financial Measures (Unaudited) Three Months Ended Six Months Ended (dollars in thousands) June 30, June 30, 2014 2013 2014 2013 Earnings Before Interest, Taxes,…
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