Presentation for the Raymond James Institutional Investors Conference March 3, 2015
Company Overview Technology focused, pure-play energy services company o Strong balance sheet position o Creating long-term shareholder value through strategic growth and returns on invested capital Two business segments o…
Oil States Today 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 Segment Contributions For Full…
Update on Strategic Focus Areas and Outlook Offshore Products segment o Backlog level at December 31, 2014 (490 million) o Market demand favors our proprietary products for production development infrastructure tied to deepwater…
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 Aberdeen, Scotland Arlington, TX USA Lampasas, TX USA Bathgate, Scotland Houston, TX USA Barrow, England OKC, OK USA Baku, Azerbaijan Tulsa, OK USA Marseille, France Houma, LA USA Houston, TX USA Vietnam…
Outlook- Potential Content Opportunities Floating Production System (FPS) spending for 2015 to 2018 forecasted to total 56 billion (down 13% compared to prior June 2014 forecast) as project economics being reassessed due to weaker…
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 (Jan 13 Dec 14) Major backlog awards over the past 24 months that are over 10 million: Customer/ Project Market Product Line Products Heerema Angola SCR/TLP/Other Products Receptacles &…
Offshore Products 2015 Outlook Current backlog and exposure to deepwater production infrastructure development projects is expected to mitigate some of the near-term commodity price headwinds as these deepwater projects are generally…
Well Site Services
Well Site Services Drilling Completion Services Wireline/ Frac/Pressure Well Drilling Coiled Tubing Pumping Flowback Testing Support Support Own and operate 34 Wireline, coiled tubing and gravel pack support Well testing and land…
Broad North American Coverage = OSES Location Region Locations Northeast 5 Mid-Con 8 TexLa 7 S. Texas, Permian 10 Gulf Coast 7 Rockies 6 Manufacturing 3 Corporate 1 Total 47 18
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 The precipitous drop in oil prices has resulted in lower expectations for drilling and completions activity in 2015 Total wells drilled are anticipated to be down 46% year-over-year, while new…
U.S. Drilling and Completions Outlook Total footage to be drilled in 2015 is expected to be down 39% year-over-year, while non-vertical footage drilled is estimated to be down 33% year-over-year Service intensity has not diminished in…
Conclusions
Key Drivers of Profitability Offshore Products o Backlog at December 31, 2014 totaled 490 million o Selective deepwater developments moving forward, but project delays are likely o Continuing with our manufacturing capacity…
Oil States Today Transformed into a technology-focused, pure-play oilfield services company o Offshore Products: deepwater capital equipment o Well Site Services: complex shale play development Strong balance sheet position and strong…
Appendix
Strong Financial Position (USD in millions, except percentages and ratios) 12/31/2014 Actual Working Capital 555.3 Current Debt 0.5 Revolving Credit Facility (Matures May 2019) 140.7 Other Debt 6.2 Total Debt 147.4 Shareholders'…
Non-GAAP Reconciliation (USD in millions) For The Year Ending December 31, For the Three Months Ending, LTM 2009 2010 2011 2012 2013 3/31/14 6/30/14 9/30/14 12/31/14 12/31/14 Well Site Services Net Income (Loss) (97) 23 80 94 80 24 26…
Non-GAAP Reconciliation USD in millions For the Three Months Ending, LTM 3/31/14 6/30/14 9/30/14 12/31/14 12/31/14 Oil States International, Inc. Net Income (Loss) 35 (24) 58 58 127 Income Tax Provision (Benefit) 18 (14) 32 33 69…
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