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Conference Edition 2013 – Howard Weil Incorporated

Howard Weil Incorporated · Apr 13, 2013 · 62 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. Conference Edition 2013 – Howard Weil Incorporated – slide 1
    Conference Edition 2013 An Overview of Select Oilfield Service Companies Analyst Contacts: Jonathan Donnel K. Blake Hancock Blake Hutchinson Bill Sanchez Dave Wilson (713) 393-4503 (713) 393-4502 (713) 393-4507 (713) 393-4505…
  2. Conference Edition 2013 – Howard Weil Incorporated – slide 2
    Introduction The following pages provide an overview of the Howard Weil Oilfield Service universe. The purpose of this fact book is to provide investors with a better understanding of select oilfield service companies and to highlight…
  3. Conference Edition 2013 – Howard Weil Incorporated – slide 3
    Table of Contents Alphabetical by Company Atwood Oceanics (ATW) ............................................... 39 Patterson-UTI Energy (PTEN) ....................................... 54 Baker Hughes Incorporated (BHI)…
  4. Conference Edition 2013 – Howard Weil Incorporated – slide 4
    Basic Definitions* Acidizing - A technique for increasing the flow of oil and/or gas into a well. Hydrochloric acid is pumped into Subsurface bit location is generally determined by MWD (real-time measurements of location and orientation…
  5. Conference Edition 2013 – Howard Weil Incorporated – slide 5
    Basic Definitions* (cont) Horizontal Drilling essentially directional drilling when the wellbore is at least 80% from vertical Riser - Flexible or rigid pipe used to connect the wellbore of offshore wells to drilling or production…
  6. Conference Edition 2013 – Howard Weil Incorporated – slide 6
    Company Profile: Baker Hughes provides drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry. Baker Hughes operates in over 80 countries worldwide providing products and…
  7. Conference Edition 2013 – Howard Weil Incorporated – slide 7
    Company Profile: Halliburton is one of the world's largest providers of products and services to the oil and gas industries with operations in approximately 80 countries. The Company operates under two main segments: Completion and…
  8. Conference Edition 2013 – Howard Weil Incorporated – slide 8
    Company Profile: Schlumberger Ltd. operates in each of the major oilfield service markets covering the entire life cycle of the reservoir, managing its business through three major Groups: Reservoir Characterization Group: Consists of…
  9. Conference Edition 2013 – Howard Weil Incorporated – slide 9
    Company Profile: Weatherford International Ltd. provides equipment and services used for the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company provides the following products and…
  10. Conference Edition 2013 – Howard Weil Incorporated – slide 10
    Company Profile: Cameron International Corporation manufactures oil and gas pressure control and separation equipment, including valves, wellheads, controls, chokes, blowout preventers and assembled systems for oil and gas drilling,…
  11. Conference Edition 2013 – Howard Weil Incorporated – slide 11
    Company Profile: FMC Technologies, Inc. provides technology solutions for the energy industry. The Company manufactures systems and products including subsea production and processing systems, surface wellhead production systems, high…
  12. Conference Edition 2013 – Howard Weil Incorporated – slide 12
    Company Profile: National Oilwell Varco, Inc. is a worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and…
  13. Conference Edition 2013 – Howard Weil Incorporated – slide 13
    Company Profile: Tenaris S.A. is the worldwide leader in the manufacturing of oil country tubular goods (OCTG) and related products. OCTG products consist of production casing, surface casing, production tubing, and drill pipe. TS also…
  14. Conference Edition 2013 – Howard Weil Incorporated – slide 14
    Company Profile: Basic Energy Services provides a wide range of well site services to oil and gas drilling and producing companies, including, completion and remedial services, fluid services, well servicing and contract drilling. The…
  15. Conference Edition 2013 – Howard Weil Incorporated – slide 15
    Company Profile: Carbo Ceramics is the world's largest supplier of ceramic proppant and provides fracture simulation software and fracture design and consulting services. The Company also provides technologies for spill prevention and…
  16. Conference Edition 2013 – Howard Weil Incorporated – slide 16
    Company Profile: Core Laboratories is one of the leading providers of proprietary and patented reservoir description, production enhancement, and reservoir management services to the oil and gas industry. Reservoir Description - the…
  17. Conference Edition 2013 – Howard Weil Incorporated – slide 17
    Company Profile: Key Energy Services, Inc. is the largest well service rig provider in the United States and provides a range of services to oil and natural gas production companies including: rig-based well maintenance and workover…
  18. Conference Edition 2013 – Howard Weil Incorporated – slide 18
    Company Profile: Superior Energy Services, Inc. is a diversified provider of oilfield services and equipment focusing on serving the needs of oil and gas companies primarily through well intervention, rental tools and marine…
  19. Conference Edition 2013 – Howard Weil Incorporated – slide 19
    Company Profile: TETRA Technologies, Inc. is composed of three divisions Fluids, Offshore (Offshore Services and Maritech), and Production Enhancement. Fluids Division - manufactures and markets clear brine fluids (CBFs), additives…
  20. Conference Edition 2013 – Howard Weil Incorporated – slide 20
    Company Profile: U.S. Silica is the second largest domestic provider of commercial silica, and has been around for 112 years. The Company operates 15 facilities across the United States and controls 307 million tons of reserves. It…
  21. Conference Edition 2013 – Howard Weil Incorporated – slide 21
    Company Profile: Dresser-Rand is a global supplier of rotating equipment solutions, designing, manufacturing and servicing a wide range of technologically advanced centrifugal and reciprocating compressors, steam and gas turbines,…
  22. Conference Edition 2013 – Howard Weil Incorporated – slide 22
    Company Profile: Dril-Quip designs, manufactures, sells and services offshore drilling and production equipment including subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors…
  23. Conference Edition 2013 – Howard Weil Incorporated – slide 23
    Company Profile: Exterran Holdings, Inc. is a market leader in the full service natural gas compression business and a premier provider of operations, maintenance, service and equipment of oil and natural gas production, processing and…
  24. Conference Edition 2013 – Howard Weil Incorporated – slide 24
    Company Profile: Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and process sectors of the oil and gas industry. The Company designs and manufactures products and…
  25. Conference Edition 2013 – Howard Weil Incorporated – slide 25
    Company Profile: Gulf Island Fabrication, Inc., fabricates offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production…
  26. Conference Edition 2013 – Howard Weil Incorporated – slide 26
    Company Profile: Lufkin Industries, Inc. manufactures and services artificial lift products including reciprocating rod lift (pumping units), gas lift, and plunger lift equipment and related products through its Oil Field Division. The…
  27. Conference Edition 2013 – Howard Weil Incorporated – slide 27
    Company Profile: McDermott International is a leading engineering, procurement, construction and installation (EPCI) company focused on designing and executing complex offshore oil and gas projects. The Company has capabilities in both…
  28. Conference Edition 2013 – Howard Weil Incorporated – slide 28
    Company Profile: Oceaneering International, Inc. service offerings include remotely operated vehicles (ROVs), built-to-order specialty hardware, engineering and project management, subsea intervention systems, non-destructive testing…
  29. Conference Edition 2013 – Howard Weil Incorporated – slide 29
    Company Profile: Oil States International, Inc. provides a broad range of products and services to the oil and natural gas industry through its Accommodation, Well Site Services, Offshore Products, and Tubular Services segments.…
  30. Conference Edition 2013 – Howard Weil Incorporated – slide 30
    Overview and Market Summary Of Worldwide Mobile Offshore Drilling Units (MODU) Worldwide Mobile Offshore Drilling Units (MODU) - as of March 2013 Composition of Estimated Worldwide MODU Market W. Africa/ Middle SE Asia/ C/S GOM Med.…
  31. Conference Edition 2013 – Howard Weil Incorporated – slide 31
    Offshore Rig Definitions and Descriptions Drillships Typically used in deepwater applications, drillships are generally self-propelled, shaped like conventional ships and are the most mobile of the major rig types. Drillships can be…
  32. Conference Edition 2013 – Howard Weil Incorporated – slide 32
    Offshore Rig Definitions and Descriptions (cont.) Jackups Jackup rigs are mobile self-elevating drilling platforms equipped with legs that can be lowered to the ocean floor until a foundation is established to support the drilling…
  33. Conference Edition 2013 – Howard Weil Incorporated – slide 33
    Offshore Rig Definitions and Descriptions (cont.) Platform Rig Consists of drilling equipment arranged in modular packages which are transported to and installed on fixed offshore platforms that provide the foundation upon which the rig…
  34. Conference Edition 2013 – Howard Weil Incorporated – slide 34
    Market Share Leaders by Geography and Asset Class Premium Jackups GOM - 17 Middle East - 103 ESV DO HERO Other 10% 12% 3% 12% NE RDC 12% 23% Other RDC HERO ESV SDRL 11% 47% 58% 6% 6% Mexico - 39 West Africa/Med - 41…
  35. Conference Edition 2013 – Howard Weil Incorporated – slide 35
    Market Share Leaders by Geography and Asset Class Commodity Jackups GOM - 44 Middle East - 29 HERO ESV 7% NE Other 4% 25% 7% RDC 7% HERO Other 64% 86% Mexico - 2 West Africa/Med - 3 SE Asia - 26 HERO 8% NE 33%…
  36. Conference Edition 2013 – Howard Weil Incorporated – slide 36
    Market Share Leaders by Geography and Asset Class Midwater Semis GOM - 7 SE Asia - 31 DO Other 10% ESV 15% DO 3% RIG 57% 14% RIG 23% NE Other 14% 64% West Africa/Med - 10 South America - 22 ATW 10% DO 27% Other Other…
  37. Conference Edition 2013 – Howard Weil Incorporated – slide 37
    Market Share Leaders by Geography and Asset Class Deepwater Floaters H O W A R D W E I L 2013 Energy Conference 37
  38. Conference Edition 2013 – Howard Weil Incorporated – slide 38
    Market Share Leaders by Geography and Asset Class Ultra-deepwater Floaters GOM - 32 Middle East - 1 Other ATW SDRL 3% ESV 9% 6% 25% RIG NE PACD RIG 38% 16% 100% 3% Mexico - 4 West Africa/Med - 23 SE Asia - 17 DO ESV…
  39. Conference Edition 2013 – Howard Weil Incorporated – slide 39
    Company Profile: Atwood Oceanics is one of the smaller offshore contract drilling companies in the Howard Weil coverage universe, having 10 active offshore rigs in its fleet with four rigs under construction. With regards to its rigs…
  40. Conference Edition 2013 – Howard Weil Incorporated – slide 40
    Company Profile: Diamond Offshore is one of the larger offshore drillers in the Howard Weil coverage universe. It's fleet consists of 32 semisubmersibles, seven jackups, and five drillship (four under construction). While having a…
  41. Conference Edition 2013 – Howard Weil Incorporated – slide 41
    Company Profile: Ensco plc is the one of the largest offshore driller in the world in terms of fleet size and maintains one of the youngest fleets in the industry. ESV operates in every major offshore market around the world. The…
  42. Conference Edition 2013 – Howard Weil Incorporated – slide 42
    Company Profile: Hercules Offshore was formed in July 2004 to provide offshore drilling and liftboat services, primarily in the GOM. HERO's offshore drilling fleet consists primarily of commodity class jackups. HERO also operates the…
  43. Conference Edition 2013 – Howard Weil Incorporated – slide 43
    Company Profile: Noble Corp. is the third largest provider of mobile offshore drilling units worldwide. NE operates 43 jackups, 23 floating rigs and two submersibles. NE is in the process of adding several additional rigs to its fleet…
  44. Conference Edition 2013 – Howard Weil Incorporated – slide 44
    Company Profile: Pacific Drilling is one of the smallest publicly traded offshore contract drilling company in the Howard Weil coverage universe, completely leveraged to the ultra-deepwater market with four ultra-deepwater drilling…
  45. Conference Edition 2013 – Howard Weil Incorporated – slide 45
    Company Profile: Rowan Companies is the largest provider of high specification jackups in the world and is the third largest provider of premium jackup rigs in the GOM. During 2011, the Company sold its ancillary businesses (land rigs…
  46. Conference Edition 2013 – Howard Weil Incorporated – slide 46
    Company Profile: Transocean is the largest publicly traded offshore drilling contractor in the world. The Company owns the largest fleet of deepwater assets, is the leading provider of midwater floaters in the North Sea, and operates…
  47. Conference Edition 2013 – Howard Weil Incorporated – slide 47
    Company Profile: Seadrill is a leading offshore drilling contractor that operates 45 rigs including semi-submersibles, drillships, jackups, and tender assist rigs. The Company has an additional 24 drilling rigs currently under…
  48. Conference Edition 2013 – Howard Weil Incorporated – slide 48
    Jackup Newbuilds Owner Rig Name Water Depth (ft) Ordered Location Cost est. MM Delivery Contract/Comments Petrobras Netherlands BVP-60 350 3Q08 Bahia 1Q13 Current Contracted Contractor TBC Master Driller II 300 2Q08 Yantai 1Q13 Not…
  49. Conference Edition 2013 – Howard Weil Incorporated – slide 49
    Floater Newbuilds Owner Rig Name Water Depth (ft) Ordered Location Cost est. MM Delivery Contract/Comments Newbuild Drillships Seadrill Ltd West Auriga 10,000 4Q10 Geoje 595 1Q13 Future Contracted Seadrill Ltd West Vela 10,000 4Q10…
  50. Conference Edition 2013 – Howard Weil Incorporated – slide 50
    U.S. Land Drilling Summary Total Fleet Mkt'd Units Active Units Mkt'd Util. HP 296 250 206 82% PTEN 293 203 178 88% NBR 298 181 144 80% PDS 128 94 70 74% Nomac 97 80 62 78% Ensign USA 119 78 60 77% Unit 127 67 55 82% Trinidad 67…
  51. Conference Edition 2013 – Howard Weil Incorporated – slide 51
    U.S. Unconventional Drilling Market Share Barnett- 28 Fayetteville - 15 Bakken - 160 HP Latshaw 25% 7% Other Other NBR 36% HP 38% 29% 13% PTEN Desoto 18% 60% HP Sidewinder 16% 20% PDS NBR PTEN Felderhoff 8% 11% 9% 10%…
  52. Conference Edition 2013 – Howard Weil Incorporated – slide 52
    Company Profile: Helmerich & Payne is a leading provider of North American land contract drilling services with core geographic regions located in South Texas, Ark- La-Tex, Midcontinent, Rockies and the Gulf Coast. HP also operates…
  53. Conference Edition 2013 – Howard Weil Incorporated – slide 53
    Company Profile: Nabors is the largest land drilling contractor in the world. Currently, the Company is actively marketing 474 land drilling rigs and 548 land workover and well- servicing rigs. Nabors is also actively marketing 36…
  54. Conference Edition 2013 – Howard Weil Incorporated – slide 54
    Company Profile: Patterson-UTI Energy is a leading provider of North American land contract drilling services with core geographic regions located in West Texas, South Texas, Ark-La-Tex, Rockies, Mid-Continent and Western Canada. The…
  55. Conference Edition 2013 – Howard Weil Incorporated – slide 55
    Company Profile: Pioneer Energy Services provides drilling services and production services to a diverse group of independent and large oil and gas exploration and production companies, operating in both the United State and Colombia.…
  56. Conference Edition 2013 – Howard Weil Incorporated – slide 56
    Company Profile: Precision Drilling Corporation is the second largest land-based contract driller in North America. As of December 31, 2012 the Company's Contract Drilling Services segment was comprised of 186 land drilling rigs in…
  57. Conference Edition 2013 – Howard Weil Incorporated – slide 57
    Company Profile: Bristow Group, Inc. is a leading provider of helicopter transportation services to the worldwide offshore oil and gas industry with major operations in the United States, the North Sea, Australia, Brazil, Mexico,…
  58. Conference Edition 2013 – Howard Weil Incorporated – slide 58
    Company Profile: Hornbeck Offshore is a leading provider of marine services to exploration and production, oilfield service, offshore construction and military customers. Hornbeck has one of the largest and youngest fleets of OSV's…
  59. Conference Edition 2013 – Howard Weil Incorporated – slide 59
    Company Profile: Tidewater Inc. provides offshore supply vessels and marine support services, with approximately 329 vessels. Operations include towing and anchor handling of mobile drilling rigs and equipment; transporting supplies…
  60. Conference Edition 2013 – Howard Weil Incorporated – slide 60
    Valuation Summary (as of 3/13/13) H O W A R D W E I L 2013 Energy Conference 60
  61. Conference Edition 2013 – Howard Weil Incorporated – slide 61
    Valuation Summary (as of 3/13/13) H O W A R D W E I L 2013 Energy Conference 61
  62. Conference Edition 2013 – Howard Weil Incorporated – slide 62
    Paul E. Pursley Head of Howard Weil (504) 582-2459 Mary Alice Allen Energy Conference Coordinator (504) 582-2545 Larry Benedetto Howard Weil is a division of Scotia Capital (USA) Inc. - a member of FINRA, NYSE and SIPC. The Howard Weil…

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