Western Energy Services Corp. · TSX:WRG

Western Energy Services — Shareholder Meeting (May 2013)

16 slides from Western Energy Services's shareholder meeting presentation, May 8, 2013

  1. Slide 1: 2013 Annual General Meeting

    2013 Annual General Meeting WRG May 8, 2013

  2. Slide 2: Disclaimer

    Disclaimer FORWARD-LOOKING INFORMATION This presentation may contain certain statements or disclosures relating to Western Energy Services Corp. (“Western”) that are based on the expectations of its management as well as assumptions made by and information currently available to Western which may co

  3. Slide 3: Corporate Overview

    Corporate Overview IROC Transaction Prior Post (April 22, 2013) Common shares Basic 60 Million 72 Million Diluted 64 Million 76 Million Current share price (as at May 7, 2013) $6.75 52 Week Range $5.32 – $8.51 $5.32 - $8.51 Market capitalization (f.d.) $432 Million $513 Million Net debt $159 Million

  4. Slide 4: Q1 2013 – WRG Consolidated Results

    Q1 2013 – WRG Consolidated Results First Quarter Year to Date Operating Highlights 2013 2012 % Change 2012 2011 2010 Contract drilling Canadian Operations Rig fleet (end of period) 45 40 13% 44 38 22 Drilling revenue per operating day (CDN$) 31,238 34,329 (9%) 32,212 29,885 25,349 Drilling rig utili

  5. Slide 5: Q1 2013 – WRG Consolidated Results (cont’d)

    Q1 2013 – WRG Consolidated Results (cont’d) First Quarter Year to Date Financial Highlights (Thousands CDN$) 2013 2012 % Change 2012 2011 2010 Revenue 98,006 110,887 (12%) 308,617 262,519 56,009 Gross Margin 40,945 50,213 (18%) 131,063 114,837 22,902 EBITDA 34,384 44,242 (22%) 108,931 99,324 16,504

  6. Slide 6: Proven Record of Growth and Profitability

    Proven Record of Growth and Profitability Revenue (millions) EBITDA (millions) EBITDA as % Of Revenue Capital Assets (millions) 111 41% 40% 44 38% 38% 38% 101 98 41 35% 35% 577 34% 558 568 537 83 34 500 81 29% 28% 474 30 31 448 23% 427 70 21% 24 50 19 45 30 188 197 27 9 9 9 (8%) 118 16 5 3 90 91 11

  7. Slide 7: 2013 Expected Capital Expenditures

    2013 Expected Capital Expenditures WRG 7

  8. Slide 8: What has changed since our last AGM?

    What has changed since our last AGM? 2012 2013 40 drilling rigs 45 drilling rigs 5 drilling rigs 5 drilling rigs 5 service rigs 65 service rigs $35M rental assets WRG 8

  9. Slide 9: Canada’s 6th largest drilling contractor

    Canada’s 6th largest drilling contractor WRG 9

  10. Slide 10: Canada’s 7th largest well servicing contractor

    Canada’s 7th largest well servicing contractor WRG 10

  11. Slide 11: Well-positioned for rental business growth

    Well-positioned for rental business growth WRG 11

  12. Slide 12: IROC Acquisition

    IROC Acquisition  Provides critical mass in the well servicing rig business in Canada.  Entrance into oilfield rentals with size and scale.  Improved overall positioning with oil focused producers.  Increases Western’s exposure to the production and maintenance segments of the oilfield services

  13. Slide 13: Major Oilfield Services Provider

    Number of Rigs 100 120 140 160 180 200 20 40 60 80 0 WRG 177 Precision 95 Rockwell 91 Nabors Savanna 86 86 Tervita 68 CWC 65 Eagle 56 Essential Roll'n Oilfield 23 21 Diamond 19 CASA Royal Treeline 15 14 13 Brandette Raider Source: Nickle’s Rig Locator as at May 7, 2013. 12 10 Sun Country Reliance Sa

  14. Slide 14: Operations Focus on the Most Robust Resource Plays

    Operations Focus on the Most Robust Resource Plays Legend Geographic Composition of Drilling and Well Servicing Rig Fleets WRG 14

  15. Slide 15: Utilization and Day Rates

    Utilization and Day Rates  Western’s premium rig fleet has realized above average utilization and industry leading day rates in the WCSB  Western’s US rigs have realized utilization averaging 48% (64% incl. mobilization days) in Q1 2013 WCSB Utilization Rates (1) WCSB Day Rates (2) 85 79 81 $40,00

  16. Slide 16: Western Energy Services Corp.

    Western Energy Services Corp. For further information please contact: Dale E. Tremblay Alex MacAusland Jeffrey K. Bowers Email: dtremblay@wesc.ca Email: amacausland@wesc.ca Email: jbowers@wesc.ca Office: 403-984-5929 Office: 403-984-5932 Office: 403-984-5933 Cell: 403-973-9439 Cell: 403-819-9855 Cel

Western Energy Services — Shareholder Meeting (May 2013) on 6ix