Patterson-uti Energy, Inc. · NASDAQ:PTEN
Patterson-uti Energy — Bank of America Merrill Lynch 2017 Global Energy Conference
25 slides from Patterson-uti Energy's conference presentation, Nov 16, 2017
Slide 1: Bank of America Merrill Lynch 2017 Global Energy Conference
Bank of America Merrill Lynch November 16 – 17, 2017 2017 Global Energy Conference
Slide 2: Forward-Looking Statements
Forward-Looking Statements This material and any oral statements made in connection with this material include "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Statements made which provide the Company’s or management’s intentions
Slide 3: Who We Are: An Oilfield Services Leader
Who We Are: An Oilfield Services Leader Patterson-UTI projected revenue for the three months ended December 31, 2017. Projected revenues for Directional Drilling include 81 days of contribution following the acquisition of MS Energy on October 11, 2017. DRILLING PRESSURE PUMPING High quality fleet o
Slide 4: Comprehensive Oilfield Services and Solutions
Comprehensive Oilfield Services and Solutions Contract Drilling Hydraulic Fracturing Directional Drilling Cementing Acidizing Nitrogen Service Air Drilling Drilling Motor Rentals Water Transfer Drilling Top Drives Well Surveying Rental Equipment
Slide 5: Broad Footprint in Oilfield Services
Broad Footprint in Oilfield Services patenergy.com WEST TEXAS / 45 APPALACHIA / 28 MID-CONTINENT / 29 SOUTH TEXAS / 18 EAST TEXAS / 18 ROCKIES / 13 NORTH DAKOTA / 8 CANADA / 2 By Region As of November 13, 2017 Active Rig Count 161 TEXAS / 695k HP APPALACHIA / 320k HP MID-CONTINENT / 190k HP Active H
Slide 6: Why Invest in Patterson-UTI Energy?
Efficiency Efficiency improves well economics Patterson-UTI has the scale, processes, people and equipment necessary for efficient operations Technology Technology helps to improve efficiency Patterson-UTI is a technology leader in oilfield services U.S. Oilfield Services Scale Scale helps to improv
Slide 7: Patterson-UTI: A Leader in Oilfield Services
Patterson-UTI: A Leader in Oilfield Services Efficiency Efficiency improves well economics. People Crews receive extensive onboarding and ongoing training to ensure competency and refine operating and safety procedures. Processes Patterson-UTI utilizes industry leading management systems and field a
Slide 8: People: Personnel Development
People: Personnel Development Working incident free is not just a priority to us — it's our way of life. Operational excellence is our minimum standard — excellence is our way of life. Development of our people is a core value — continuous learning is our way of life.
Slide 9: Process: Management System
Process: Management System Management System allows for continuous updates on Policies & Priorities Comprehensive Rig and Frac Fleet audits ensure uptime, preventative maintenance, continuous improvement. Incident Management System allow data for Reporting and tracking to completion of Incidents and
Slide 10: Innovative Rig Designs: APEX-XK
Innovative Rig Designs: APEX-XK® Able to walk x/y with full set-back of pipe in mast Walking system integrated into substructure Blowout Preventer remains upright in substructure while walking Drawworks on rig floor allows more clearance under rig for walking Advanced environmental spill control int
Slide 11: Innovative Rig Designs: APEX-XC
Innovative Rig Designs: APEX-XC™ Standard with higher-torque top drive Enhanced setback capacity for efficiently drilling longer laterals Increased clearance for walking over and around wellheads on a pad HPU, accumulator and walking system integrated in substructure for efficient rig moves and rig
Slide 12: Innovative Rig Upgrades
Innovative Rig Upgrades: Significantly upgrading seven APEX 1000® rigs to APEX-XK® rigs. The first four upgrades have been completed and delivered to the field, and the remaining three are all under contract and are expected to go to work over the next few months. Upgrading two APEX® rigs to APEX-PK
Slide 13: Innovative Rig Technology: Warrior AC Top Drive
Innovative Rig Technology: Warrior 500 Ton AC Top Drive HIGH PERFORMANCE - 50,000 ft-lbs continuous torque rating REDUNDANT POWER DELIVERY - Four independent power pathways from the AC bus to the top drive quill - No single-point sources of failure from generator to drill pipe REVOLUTIONARY POWER TR
Slide 14: Innovative Pressure Pumping Technology: Bi-Fuel
Innovative Pressure Pumping Technology: Bi-Fuel Engines can burn a fuel mix comprised of up to 70% natural gas Comparable torque and horsepower to an all diesel engine Reduces operating costs by lowering fuel costs Good for environmental sustainability
Slide 15: Innovative: Performance Data Analytics
Innovative: Performance Data Analytics Real-time innovative data analysis system collects and analyzes data across region, pad and rigs for performance by formation, section, crew, etc. Ability to analyze equipment and maintenance data across rigs and vendors to benchmark performance and maximize re
Slide 16: Innovative: Centralized Logistics Center
Innovative: Centralized Logistics Center Efficient procurement and logistics of sand and chemicals is important to being successful in hydraulic fracturing. Centralized logistics center includes: central scheduling and tracking software 24/7 dispatch personnel smart phone apps in the field Currently
Slide 17: Innovative: Automation and Remote Operations
Innovative: Automation and Remote Operations REMOTE OPERATIONS Remote operations allow a specialist to execute multiple wells at one time RIG AUTOMATION Consistent, automated processes at the wellsite limit safety risks, reduce well costs, streamline logistics and increase margins DD AUTOMATION Cont
Slide 18: Strong Financial Position
Strong Financial Position Substantial Liquidity $38 million cash as of September 30, 2017 $500 million revolver through March 2019 of which $255 million was available as of October 30, 2017 16.4% Net Debt/Total Capital at September 30, 2017 $300 million term loan matures October 2020 $300 million te
Slide 19: Why Invest in Patterson-UTI Energy?
Efficiency Efficiency improves well economics Patterson-UTI has the scale, processes, people and equipment necessary for efficient operations Technology Technology helps to improve efficiency Patterson-UTI is a technology leader in oilfield services U.S. Oilfield Services Scale Scale helps to improv
Slide 20: Patterson-UTI Energy Inc.
@ PATTERSON-UTI . 4 ENERGY INC.
Slide 21: Additional References
PATTERSON-UTI ENERGY INC. Additional References
Slide 22: APEX Class Rigs
APEX® Class Rigs *Three to be converted to APEX-XK. 198 APEX-XK 1500® APEX 300-Series® APEX 1500® APEX PK™ APEX 1000®* Other AC 61 53 47 28 7 2
Slide 23: Modern Pressure Pumping Equipment
Modern Pressure Pumping Equipment Hydraulic fracturing horsepower location as of October 26, 2017 APPALACHIA 23% 1.5 MM HORSEPOWER TEXAS 62% MID-CONTINENT 15%
Slide 24: Non-U.S. GAAP Financial Measures
Non-U.S. GAAP Financial Measures (1) Adjusted EBITDA is a supplemental financial measure not defined by United States generally accepted accounting principles, or U.S. GAAP. We define Adjusted EBITDA as net income (loss) plus net interest expense, income tax expense (benefit) and depreciation, deple
Slide 25: Patterson-UTI Energy Inc.
@ PATTERSON-UTI . 4 ENERGY INC.
Patterson UTI Energy — Bank of America Merrill Lynch 2017 Global Energy Conference on 6ix