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Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc.

Patterson-Uti Energy Inc. · Mar 3, 2015 · 24 slides

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Slides

  1. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 1
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  2. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 2
    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 149 APEX rigs Leader in walking rig technology for pad…
  3. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 3
    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 Contract…
  4. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 4
    Improved Performance U.S. Rig Count Downturn 120% 100% Total Baker Hughes U.S. Land Rig Count: -23% 80% 60% 40% 20% 2008 - 2009 Total PTEN U.S. Rig Count: -46% 0% 120% 100% Total PTEN U.S. Rig Count: -28% 80% 60%…
  5. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 5
    APEX Rig Fleet APEX Rigs as of March 3, 2015 and Expected as of December 31, 2015 Class 3/3/2015 12/31/2015 APEX-XK 1500 41 53 APEX-XK 1000 4 4 APEX WALKING 49 49 APEX 1500 44 44 APEX 1000 11 11 Total APEX Rigs 149 161 A…
  6. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 6
    Patterson-UTI Energy the impact of APEX rigs has been transformative Increasing APEX Drilling Activity Active APEX Rig Count 160 140 120 100 80 60 40 20 0 12 6
  7. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 7
    PTEN Relative Active Rig Count by Rig Class APEX Other Electric Mechanical 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 13 Greater Stability of Utilization APEX Rig Utilization 120% 100% 80% 60% 40% 20%…
  8. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 8
    Improving Average Rig Revenue Per Day Patterson-UTI Total Average Rig Revenue Per Day 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 15 Excludes early-termination revenues during the third and fourth…
  9. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 9
    Patterson-UTI Energy the APEX rig outlook remains strong Continued Demand for APEX Rigs U.S. Rig Count % by Drilling Type 80% 70% 60% 50% 40% 30% 20% 10% 0% % Horizontal % Vertical 18 Source: Baker Hughes North…
  10. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 10
    Continued Demand for APEX Rigs Total U.S. Horizontal Rig Count by Power Type Mechanical SCR AC AC-powered rigs have increased as a percentage of the horizontal rig count 19 Analysis from Patterson-UTI Energy based on data…
  11. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 11
    APEX WALKING Rigs Capable of walking with drill pipe and collars racked in the mast Full multi-directional walking capability Walking times average 45 minutes for 10 15 well spacing 21 21…
  12. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 12
    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…
  13. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 13
    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…
  14. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 14
    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 54 rigs currently…
  15. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 15
    Pressure Pumping Growing Pressure Pumping Business Investments in Pressure Pumping Have Increased Fleet Size and Quality Pressure Pumping Horsepower (000s) 1,100 1200 1000 800 600 400 65 200 0 2006 2007 2008 2009…
  16. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 16
    Pressure Pumping Areas A Significant Player in Regional Markets Fracturing Horsepower 32% 68% Northeast Region: Fracturing horsepower: 303,800 Southwest Region: Other horsepower: 54,700 Fracturing horsepower: 638,800 Other…
  17. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 17
    A Leader in Bi-Fuel Technology http://patenergy.com/pressurepumping/services 33 33 A Leader in Bi-Fuel Technology One of the largest bi-fuel frac fleets in the Marcellus Approximately 1,800 stages completed using natural…
  18. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 18
    Comprehensive Lab Services 35 http://patenergy.com/pressurepumping/services Financial Flexibility 18
  19. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 19
    Investing in Our Company Capital Expenditures and Acquisitions ( in millions) 1,229 976 1,012 974 750 637 662 598 445 453 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E 37 2015 Capital expenditure forecast as of…
  20. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 20
    Strong Financial Position Total Liquidity ( in millions) Line of Credit Availability Cash 2006 2007 2008 2009 2010 2011 2012 2013 2014 Pro Forma 2014* Year End Liquidity defined as end of period cash plus availability under…
  21. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 21
    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…
  22. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 22
    Investing in Our Drilling Rig Fleet Contract Drilling Capital Expenditures and Acquisitions ( in millions) 785 772 745 656 531 540 525 505 395 361 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E More than 5 billion…
  23. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 23
    Term Contract Coverage Based on term contracts in place as of February 5, 2015 An average of 138 rigs expected under term contract in the first quarter of 2015 An average of 104 rigs expected under term contract during 2015…
  24. Raymond James 36th Annual Institutional Investors Conference – Patterson-Uti Energy Inc. – slide 24
    Non-GAAP Financial Measures PATTERSON-UTI ENERGY, INC. Non-GAAP Financial Measures (Unaudited) Three Months Ended Twelve Months Ended (dollars in thousands) December 31, December 31, 2014 2013 2014 2013 Adjusted Earnings Before…

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