Pioneer Energy Services — Jefferies Energy Conference 2018
22 slides from Pioneer Energy Services's conference presentation, Nov 27, 2018
Slide 1: Jefferies Energy Conference November 27th, 2018
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Jefferies Energy Conference November 27th, 2018
Slide 2: Forward-looking Statements
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Forward‐looking Statements This presentation contains various forward‐looking statements and information that are based on management’s current expectations and assumptions about future events. Forwar
Slide 3: Pioneer Energy Services – Diversified Services
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Pioneer Energy Services – Diversified Services COMPANY OVERVIEW % of TTM REVENUE TTM REVENUE1: $575 MILLION Coiled Tubing 9% MARKET CAPITALIZATION2: $204 MILLION Well Drilling ‐ Servicing Domestic 25%
Slide 4: Recent Updates
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Recent Updates THIRD QUARTER UPDATES • Executed contracts for two rigs in Colombia, both of which are currently mobilizing and are expected to begin operations in December. With these executed contrac
Slide 5: Premium Shale-Oriented Assets
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Premium Shale‐Oriented Assets US DRILLING SERVICES PRODUCTION SERVICES • 100% pad‐capable AC rigs • Premium shale‐capable equipment • Framework of a super‐spec rig: • 7,500psi mud systems • High horse
Slide 6: Balanced Revenue Mix Between Completion and Remedial Services
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Balanced Revenue Mix Between Completion and Remedial Services WIRELINE COILED TUBING WELL SERVICING Completion Remedial 16% Remedial 29% Completion 36% Completion 64% 71% Remedial 84% PRODUCTION SERVI
Slide 7: Established Customer Base with Premier Customers
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Established Customer Base with Premier Customers • Long-standing, high quality client relationships with a diverse group of large independent oil and gas exploration and production companies KEY CUSTO
Slide 8: Industry-Leading Safety
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Industry‐Leading Safety • For many years, Pioneer has been a leader in safety. Our commitment to industry‐leading safety helps us retain high‐quality employees, broaden our client base, and reduce ope
Slide 9: Production Services
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx PRODUCTION SERVICES 9
Slide 10: Well Servicing
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Well Servicing SERVICE OVERVIEW OPERATING LOCATIONS – 125 RIGS • Of the top‐tier well servicing providers, Pioneer has the: • Highest average hourly rate • Highest average horsepower fleet with all 12
Slide 11: Wireline
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Wireline SERVICE OVERVIEW OPERATING LOCATIONS – 104 UNITS • One of the most active U.S. wireline companies and estimated to be the 6th largest wireline company in the world.¹ • Majority of revenue der
Slide 12: Coiled Tubing
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Coiled Tubing SERVICE OVERVIEW OPERATING LOCATIONS • Fleet currently provides an array of services with coil capabilities ranging from 1 1/4” to 2 5/8” coiled tubing. • Established in the Eagle Ford a
Slide 13: Drilling Services
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx DRILLING SERVICES 13
Slide 14: Drilling Services: U.S. Average Drilling Margin per Day
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Drilling Services U.S. AVERAGE DRILLING MARGIN PER DAY OPERATING LOCATIONS $11,000 $10,000 $9,000 $8,000 $7,000 TOTAL RIG FLEET UTILIZATION1 $6,000 $5,000 7 7 6 2 $4,000 1 PES HP NBR PTEN ICD PDS 3Q18
Slide 15: Drilling Services: Top Performer
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Drilling Services TOP PERFORMER • Rig Move Average: • 2 calendar days from release to acceptance • 32 miles average mobilization • Highest average margin per day of public land drillers RIG SPECIFICAT
Slide 16: Drilling Services: Rig Technology
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Drilling Services • NOV Amphion Integrated Control System • Structure/Tool Management System • 4 Channel Auto Driller • Twister • Modular Scalable System • MD Totco RigSense Ready – Expanded Data Acqu
Slide 17: ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx 17
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx 17
Slide 18: Balance Sheet and Cash Flow Management
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Balance Sheet and Cash Flow Management • Completed $175 million senior secured term loan and $75 million asset‐based lending facility in November 2017. Proceeds were used, among other things, to retir
Slide 19: Historical Financial Results
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Historical Financial Results REVENUE / ADJUSTED EBITDA ($ millions) CAPEX SPEND ($ millions) $1,200 $200 $1,055 $175 $1,000 $160 $150 $800 $600 $575 $541 $100 $446 $400 $63 $49 $277 $277 $50 $32 $200
Slide 20: Liquidity and Capital Structure
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Liquidity and Capital Structure September 30th, 2018 ($ millions) Actual Cash and cash equivalents $ 51.5 Restricted Cash 2.0 $75mm Asset‐Based Lending Facility due 2022 ‐‐ Senior Secured Term Loan du
Slide 21: Reconciliation of Net Income to Adjusted EBITDA
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx Reconciliation of Net Income to Adjusted EBITDA Adjusted EBITDA represents income (loss) before interest expense, income tax (expense) benefit, depreciation and amortization, loss on extinguishment of
Slide 22: ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx
ibdroot\Projects\IBD-NY\thaw2016\595552_1\06. Road Show\PES Company Presentation GS EQUITY v02.pptx
Pioneer Energy Services — Jefferies Energy Conference 2018 on 6ix