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Peters & Co Limited Energy Conference – Western Energy Services Corp.

Western Energy Services Corp. · Sep 1, 2014 · 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. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 1
    Peters & Co. Limited Energy Conference WRG September 2014
  2. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 2
    Westerns Strategic Growth Market Capitalization 852 million September 3, 2014 3
  3. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 3
    Western Today (plus 1 rig under construction) (plus 5 rigs under construction) 4
  4. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 4
    Geographic Diversity Drives Strong Customer Base 5
  5. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 5
    High Quality Customer Base CANADIAN NATURAL RESOURCES 14% ARC 7% Other 44% PROGRESS 6% 150 Customers DEVON 6% PENGROWTH 6% BONAVISTA CRESCENT POINT 5% 3% HUSKY BAYTEX 4% 5% Consolidated year-to-date revenue as…
  6. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 6
    Westerns Drilling Rig Fleet Westerns Fleet by Depth…
  7. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 7
    Westerns Competitive Advantage Modern efficient fleet Small footprint and efficient moves Rig-up and drill efficiently Average age 6 years Automated pipe handling and hydraulic BOP handling Three 5,000 m ELR telescopic doubles…
  8. Peters & Co Limited Energy Conference – 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. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 9
    Westerns Well Servicing Fleet One of the newest fleets in Canada Average age of the fleet 4 years 7th largest well servicing fleet in Mobile Canada Slants, 8* 12% Constructing 8th Slant Rig for Q1 Mobile Singles, 2015 32 Mobile…
  10. Peters & Co Limited Energy Conference – 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. Peters & Co Limited Energy Conference – 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. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 12
    Corporate Overview Common shares Basic 75 Million Diluted 78 Million Current share price (as at September 3, 2014) 10.92 52 Week Range 6.92 11.70 Market capitalization (f.d.) (as at September 3, 2014) 852 Million Net debt 195…
  13. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 13
    Operating Highlights Second Quarter Year to Date June 30 Operating Highlights 2014 2013 % Change 2014 2013 % Change Contract drilling Canadian Operations Rig fleet (end of period) 49 45 9% 49 45 9% Operating revenue per revenue day…
  14. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 14
    Financial Highlights Second Quarter Six Months Ended June 30 Year Ended December 31 Financial Highlights (Thousands CDN) 2014 2013 % Change 2014 2013 % Change 2013 2012 2011 2010 Operating Revenue 77,352 47,616 62% 226,979 137,696 65%…
  15. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 15
    Balance Sheet Overview Consolidated Balance Sheet ('000s) June 30, 2014 December 31, 2013 Cash 69,488 17,389 Current assets 58,671 96,095 Property and equipment 796,997 783,225 Other long term assets 90,956 90,083 Total assets…
  16. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 16
    2014 Capital Expenditures 170 Million Consolidated Capital Spending - Expansion vs. Maintenance & Consolidated Capital Spending By Critical Spares Entity Critical Spares 7% (12 million) Maintenance 16% (28 million)…
  17. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 17
    Continued Strategic Growth Westerns key initiatives: Stay financially flexible with a well structured balance sheet Continue to offer a quarterly dividend Focus on capital discipline while maintaining the ability to respond to…
  18. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 18
    Appendix 19
  19. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 19
    Canadian Wells Operating Days (1) Well Licenses by Objective (2) 180,000 3,500 158,426 160,000 145,118 132,899 3,000 134,833 140,000 Number of Well Licenses 124,595 2,500 119,950 119,303 119,809 120,000 2,000 100,000 78,006…
  20. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 20
    Westerns Drilling Rig Depth Capacity WCSB Depth (m) % of Fleet WESC** % of Fleet of Rigs* 760 to 1524 93 12% - - 1525 to 2279 66 8% 3 5% 2280 to 3049 156 20% - - 315 40% 3 5% 3050 to 3799 257 33% 23 39% 3800 to 4569 153 20% 21 36%…
  21. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 21
    Leading Deep Driller in Canada 100% 6% 9% 13% 90% 20% 19% 13% 28% 80% 8% 22% 70% 20% 13% 60% 50% 94% 40% 78% 72% 65% 30% 59% 61% 20% 10% 0% Western Nabors Trinidad Precision Savanna Ensign Greater than 2,999m Between…
  22. Peters & Co Limited Energy Conference – Western Energy Services Corp. – slide 22
    Notes 23
  23. Peters & Co Limited Energy Conference – 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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