Propetro Holding Corp. · NYSE:PUMP
Propetro — Q3 2022 Earnings Presentation
22 slides from Propetro's earnings presentation, Nov 2, 2022
Slide 1: Q3 2022 Investor Presentation
Q3 2022 Investor Presentation November 1, 2022 Client to confirm use of this image again EXHIBIT 99.2
Slide 2: Forward-Looking Statements
© 2022 ProPetro Holding Corp. All Rights Reserved. 2 Forward-Looking Statements Except for historical information contained herein, the statements and information in this presentation, including the oral statements made in connection herewith, are forward-looking statements that are made pursuant to
Slide 3: Non-GAAP Reconciliations
© 2022 ProPetro Holding Corp. All Rights Reserved. 3 This presentation references “Adjusted EBITDA” and “Free Cash Flow,” which are non-GAAP financial measures. We define EBITDA as our earnings, before (i) interest expense, (ii) income taxes and (iii) depreciation and amortization. We define Adjuste
Slide 4: Our Strategy
© 2022 ProPetro Holding Corp. All Rights Reserved. 4 Pursue a more capital- light asset profile and next generation fleet Pursue opportunistic strategic transactions to accelerate value creation and distribution Optimize operations and industrialize our business Maintain a strong balance sheetDevelo
Slide 5: Company Snapshot
© 2022 ProPetro Holding Corp. All Rights Reserved. 5 CCC Company Snapshot Oilfield services leader in the Permian Basin providing complementary completions services in Hydraulic Fracturing, Cementing, and Wireline to leading upstream oil and gas producers 5 NYSE PUMP Combined 3Q22 Revenue (1) $383 m
Slide 6: Global Hydrocarbon Macro Environment
© 2022 ProPetro Holding Corp. All Rights Reserved. 6 While demand was initially impacted by the COVID-19 pandemic and has since rebounded, structural energy supply issues persist, particularly in crude oil and natural gas Supply is expected to be suppressed long-term due to the COVID-19 pandemic whi
Slide 7: Permian Basin Large Addressable Market Opportunity
© 2022 ProPetro Holding Corp. All Rights Reserved. 7 PERMIAN BASIN Large Addressable Market Opportunity The Permian Basin Market Opportunity Remains Robust for Decades to Come… The Permian Basin consists of mature, legacy, onshore oil and liquids-rich natural gas reservoirs spanning ~86,000 square m
Slide 8: Who We Are and Where We Are Going
© 2022 ProPetro Holding Corp. All Rights Reserved. 8 Customer focused; Team driven Dedicated and efficient customer base harnessing the potential of the resource-rich Permian Basin Transitioning to a young, efficient capital-light fleet that burns natural gas Relied upon by premier customers with pr
Slide 9: Proven Success in the Most Challenging Environment: Unrivaled Completions Services
© 2022 ProPetro Holding Corp. All Rights Reserved. 9© 20 2 ProPetro Holding Corp. All Rights Reserved. 9 Proven Success in the Most Challenging Environment: Unrivaled Completions Services COMPLETION-RELATED SERVICES Consistent with ProPetro’s Hydraulic Fracturing, Cementing, and now, Wireline servic
Slide 10: Innovation Leading to Our #1 Customer Ratings
© 2022 ProPetro Holding Corp. All Rights Reserved. 10 Reduce on-site headcount Improve efficiency Drive best-practices across fleets Increase long-term profitability Enhance safety protocols Increase sustainability of operations Innovation Leading to Our #1 Customer Ratings - A ProPetro Competitive
Slide 11: Commitment to Our People, Our Community, and Our Environment
© 2022 ProPetro Holding Corp. All Rights Reserved. 11 Commitment to Our People, Our Community, and Our Environment OPTIMIZED OPERATIONS & FLEET TRANSITION Innovation • Strategic investments in dual-fuel and electric- powered fleets, remote engineering operations, logistics, and maintenance systems G
Slide 12: Fleet Transition: Executing on The Strategy
© 2022 ProPetro Holding Corp. All Rights Reserved. 1212 • More fuel-efficient fleets to reduce costs, while enhancing competitiveness and free cash flow profile • In August 2022, announced a long-term lease agreement for two electric hydraulic fracturing fleets with expected delivery in 3Q23 • Impro
Slide 13: Recent Events – Acquisition of Silvertip Completion Services
© 2022 ProPetro Holding Corp. All Rights Reserved. 1313 Recent Events – Acquisition of Silvertip Completion Services Headquarters Midland, TX Wireline Services • Owns and operates 23 wireline units, all of which have been recently refurbished Pumpdown Services • Owns and operates 15 pumpdown units ~
Slide 14: Transaction Rationale – Acquisition of Silvertip Completion Services
© 2022 ProPetro Holding Corp. All Rights Reserved. 1414 Transaction Rationale – Acquisition of Silvertip Completion Services Accretive Financial Metrics Expected to be accretive on all metrics based on Adjusted EBITDA multiple, earnings per share (“EPS”), and free cash flow per share (“FCFPS”) Highl
Slide 15: Pro Forma Revenue Mix by Service Line
© 2022 ProPetro Holding Corp. All Rights Reserved. 1515 Pro Forma Revenue Mix by Service Line: Hydraulic Fracturing, Wireline, and Cementing 2022 REVENUE MIX BY SERVICE LINE Hydraulic Fracturing Cementing Wireline Source: 2022 management estimates. EXHIBIT 99.2
Slide 16: Delivering Strong Results
© 2022 ProPetro Holding Corp. All Rights Reserved. 16 Delivering Strong Results Strong sequential improvement and performance that is exceeding consensus estimates, resulting from continued net pricing gains and fleet repositioning efforts 3Q22 ProPetro Standalone Financial Highlights (in millions e
Slide 17: Strong Adjusted EBITDA and Free Cash Flow
© 2022 ProPetro Holding Corp. All Rights Reserved. 17 CCC Strong Adjusted EBITDA and Free Cash Flow Go forward company poised to generate significant cash flow in 2023 and beyond 17 Note: All data is illustrative and should not be relied upon as an indication of future financial performance or the o
Slide 18: Capital Allocation Framework: Strategy Meets Opportunity
© 2022 ProPetro Holding Corp. All Rights Reserved. 18 Capital Allocation Framework: Strategy Meets Opportunity OPTIMIZE OPERATIONS Enhancing operational efficiency by focusing resources on the most relevant technologies, tools, and best practices FLEET TRANSITION With robust industry fundamentals, t
Slide 19: Our Leadership
© 2022 ProPetro Holding Corp. All Rights Reserved. 19 Our Leadership LEADERS COMMITTED TO SHAREHOLDER VALUE CREATION SAM SLEDGE Chief Executive Officer & Director Former ProPetro President. Also served as Chief Strategy and Administration Officer, as well as Vice President of Finance, Corporate Deve
Slide 20: Our Board of Directors
© 2022 ProPetro Holding Corp. All Rights Reserved. 20 Our Board of Directors PHILLIP A. GOBE Chairman of the Board Chairman of board in August of 2021 and previously served as our CEO in 2020 and 2021, and Executive Chairman of ProPetro in October 2019. Serves on the board of Pioneer Natural Resourc
Slide 21: ProPetro: The Oilfield Services Leader Built For The Future
© 2022 ProPetro Holding Corp. All Rights Reserved. 21© 20 2 ProPetro Holding Corp. All Rights Reserved. 21 Efficient operator with a debt-free balance sheet Cutting edge technologies drive leading profitability and customer solutions Disciplined capital allocation and asset deployment strategy The p
Slide 22: Investor Contacts
© 2022 ProPetro Holding Corp. All Rights Reserved. 22 Investor Contacts INVESTOR RELATIONS DAVID SCHORLEMER Chief Financial Officer david.schorlemer@propetroservices.com 432.277.0864 MATT AUGUSTINE Investor Relations matt.augustine@propetroservices.com 432.848.0871 CORPORATE HEADQUARTERS 1706 South