Ranger Energy Services, Inc. · NYSE:RNGR
Ranger Energy Services — Investor Presentation (May 2022)
17 slides from Ranger Energy Services's investor presentation, May 13, 2022
Slide 1: Investor Deck May 2022
Investor Deck May 2022 Ranger Energy Services © 2022
Slide 2: Forward Looking Statements & Disclosure
Forward Looking Statements & Disclosure CAUTIONARY STATEMENTS FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements in
Slide 3: Forward Looking Statements & Disclosure
Forward Looking Statements & Disclosure CAUTIONARY STATEMENTS USE OF PROSPECTIVE FINANCIAL INFORMATION This presentation contains prospective financial information. Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relie
Slide 4: Ranger's Strategic Objective
Ranger's Strategic Objective Our Goal is to Build the Leading Completions and Production Oriented Service Company that Generates Sustainable Cash Flow Through Cycle Create Leading Positions in Select Leading Basins to Promote In-Basin Scale Build Efficient Field Operations and Efficient Back Office
Slide 5: Track Record of Organic Growth and M&A
Track Record of Organic Growth and M&A Revenue by Quarter 2017 to Q1-22 Organic Growth and Customer Base Transformation Inorganic 123 124 Growth (Q2-Q4-21) Combination & IPO 88 84 84 (Q3-17) 82 85 80 81 82 73 63 50 50 41 41 39 29 34 31 35 5
Slide 6: Opportunistic 2021 Acquisitions
Opportunistic 2021 Acquisitions • May-21 Close • July-21 Close • Oct-21 Close Patriot PerfX Basic • Purchase Price $11M • Purchase Price - $20M • Purchase Price - $38M (including 1.3M (1M shares plus $11M (6M shares) shares) seller note) • Expecting proceeds of • ~2X 2019 Adj EBITDA • ~1X trailing 2
Slide 7: Business Overview
ENERGY SERVICES Business Overview
Slide 8: Ranger Companies and Service Lines
Ranger Companies and Service Lines Q1-22 Annualized Revenue / % of High Spec Rigs Company Revenue • High-spec rig services • Completion related drill- $260M / outs 53% • Workovers Wireline Services • “Plug and Perf” completion related services • Pump-down $154M / • Cement and casing 31% evaluation •
Slide 9: Market Leading Scale and Asset Quality
Market Leading Scale and Asset Quality US Service Rig Fleet Count High Spec Conventional Total % total High Spec Conventional Total Ranger 595 126 721 40% 9% 25% Key 250 275 525 17% 19% 18% Axis 104 262 366 7% 18% 13% Clearwell (Pioneer) 123 0 123 8% 0% 4% Brigade 93 97 190 6% 7% 7% Ensign 39 60 99
Slide 10: Leading Position in Select Basins
Leading Position in Select Basins North Dakota Wyoming DJ Basin Oklahoma Permian NE TX Basin Haynes Headquarters South Ranger basins Texas 10
Slide 11: Blue-Chip Customer Base
Blue-Chip Customer Base - a * Chevron ConocoPhillips Oxy xT o —_ Seog resources [HESS] C ontinen tal @ CiviTAs 2 bpx energy TOTAL DIAMONDBACK S M fF RAYS 0 N M | L L Energy _ WY) eee PIONEER devon = Marathonoll [a ois NATURAL RESOURCES Reenneeeat () PDC & aK Ovintiv’ . OYENERGY eemor Gil BIRCH V RES
Slide 12: Financials
ENERGY SERVICES
Slide 13: Historical & 2022/23 Outlook
Historical & 2022/23 Outlook 2019 2020 2021 2022 2023 Company Street Street Q1 Guidance Estimate Estimate Revenue FY FY FY Q1A Annualized (midpoint) (midpoint) (midpoint) High Spec Rigs 132 82 140 65 260 Wireline 136 79 118 39 154 Other Svcs 69 26 35 20 80 Total 337 188 293 124 494 560 560 637 Segme
Slide 14: Debt & Adj. EBITDA Reconciliation
Debt & Adj. EBITDA Reconciliation Revolving and Term Debt (in $mm) Q4-21 Q1-22 April-22 April vs Q1 Revolver Draw 27 45 32 (13) Term Debt 35 31 26 (5) Total Rev/Term 62 76 59 (17) …”by early 2023 we expect Ranger will have term debt of $10 million to $15 million, no revolver draw, and a positive cas
Slide 15: Investment Thesis
Investment Thesis Current Thesis • Pragmatic, efficient, effective organization • Forecasted 2023 cash flow yield >25%* • Strong M&A track record • Low to no balance sheet leverage Near-Term Risk • Limited trading volume • Large holder seller overhang possible Forward Vision • Organic growth on unde
Slide 16: Non-GAAP Measures Definitions
Non-GAAP Measures Definitions Note Regarding Non-GAAP Financial Measure The Company utilizes certain non-GAAP financial measures that management believes to be insightful in understanding the Company’s financial results. These financial measures, which include Adjusted EBITDA and Adjusted Net Debt,
Slide 17: THE WAY
THE WAY
Ranger Energy Services — Investor Presentation (May 2022) on 6ix