Presentation for the TPH 2014 Hotter N Hell Conference June 18, 2014
Spin-Off of Civeo Completed Credit facilities for both Oil States and Civeo closed on May 28, 2014 Distribution of all of Civeo shares to Oil States shareholders occurred on May 30, 2014 Regular-way trading for Oil States and Civeo…
Company Overview Pure-play oilfield services company o Creating long-term shareholder value through strategic growth and returns on invested capital Two business segments o Offshore Products o Well Site Services Two primary…
Oil States Post Spin Consists of Offshore Products and Well Site Services Focused on delivering technology and solutions to the growing deepwater capital equipment and North American shale play markets Becomes a pure play energy…
Update on Strategic Focus Areas and Outlook Offshore Products segment o Strong backlog level at March 31, 2014 (578 million) o Market demand favors our proprietary products for deepwater production platforms (FPSOs and TLPs) and…
Offshore Products Segment
Driven by Worldwide Deepwater Capital Spending Floating Production Facilities (FPSOs, TLPs and Spars) o Steel catenary riser connectors and receptacles o TLP tendon connectors o Riser tensioning equipment o Welding technology,…
Global Breadth of Operations Arlington, TX USA Bathgate, Scotland Lampasas, TX USA Barrow, England Houston, TX USA OKC, OK USA Baku, Azerbaijan Tulsa, OK USA Livingston, Scotland Marseille, France Houma, LA USA Houston, TX USA Las…
Potential Content Opportunities Floating Production System (FPS) spending for 2013 to 2017 forecasted to grow to 72 billion, an increase of 88% compared to preceding five year period Asia, Australia and Latin America are forecasted to…
FPSO and Subsea Tieback Content Steel Catenary Riser (SCR) Free Standing Hybrid Riser (FSHR) Deck Equipment Subsea FlexJoints Upper Riser Assembly Cranes Spread Mooring Systems Receptacles Bend Stiffeners Mooring Winches…
Offshore Products Select Major Backlog Awards (3Q 10 1Q 14) Customer/ Project Market Product Line Products Technip Australia SCR/TLP/Other Products Merlin Joints BP Baku Connector Products Merlin Joints Undisclosed Pipeline Project…
Well Site Services
Well Site Services Drilling Completion Services Wireline Pressure Well Drilling Coiled tubing Pumping Flowback Testing Own and operate 34 Wireline, coiled tubing and gravel pack support Well testing and land drilling rigs in…
Broad North American Coverage In addition, operating in over 20 other countries worldwide Canada Calgary, Grande Prairie Medicine Hat, Red Deer Rockies Williston, Dickinson, Casper, Rock Springs, Vernal, Berthoud, Kent…
Complex Completions Driving U.S. Spending and Activity Complex shale well completions, drilling rig efficiency and pad drilling are decoupling U.S. rig count from completion activity With our market presence in all major U.S. shale…
Completion Services Margin Performance With a broad market presence across all major U.S. shale plays coupled with a focus on high-end proprietary technology, our completion services business is performing well compared to other North…
U.S. Drilling and Completions Outlook Number of new wells expected to be drilled between 2013 and 2015 projected to increase by 3% over the two year period Footage drilled is estimated to increase 11% over the next two years (2015E…
Conclusions
Key Drivers of Profitability Offshore Products o Strong backlog levels at March 31, 2014 (578 million) o Robust outlook for deepwater capital equipment bookings o Continued focus on international expansion o Bolt-on acquisition,…
Oil States Post-Spin Transforming into a technology-focused, pure-play oil services company o Offshore Products: deepwater capital equipment o Well Site Services: complex shale play development Strong growth potential with continued…
Strong Financial Position (USD in millions) 3/31/2014 Pro-Forma 1 Working Capital 545.4 Current Debt 0.5 Bank Credit Facilities 2 182.4 6.5% Senior Notes due 2019 3 - 3 5.125% Senior Notes due 2023 - Other Debt 6.6 Total Debt…
Non-GAAP Reconciliation (US dollars in millions) FYE December 31, LTM 2005 2006 2007 2008 2009 2010 2011 2012 2013 3/31/14 Well Site Services Net Income 37 90 83 53 (97) 23 80 94 80 83 Income Tax Provision 25 44 39 44 (23) 17 52…
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