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 Cased Wellbore Specialists  Profitable International Operations  Capital For Continued Growth INTEGRATED PRODUCTION SERVICES LTD.

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Presentation on theme: " Cased Wellbore Specialists  Profitable International Operations  Capital For Continued Growth INTEGRATED PRODUCTION SERVICES LTD."— Presentation transcript:

1  Cased Wellbore Specialists  Profitable International Operations  Capital For Continued Growth INTEGRATED PRODUCTION SERVICES LTD.

2 Mission  To be recognized by customers as a premier provider of cased wellbore (production) services & products  To provide shareholders with a profitable, long-term growth investment  To provide employees with rewarding, satisfying and challenging careers

3 Why Cased Wellbores?  Provide services and products from initial completion to final abandonment (5 – 50 years)  Stable revenue base through periods of low drilling activity, participation in high drilling through completions  New technologies and proprietary products and services for growth in all markets

4 Production Facts  There are 200,000 active wellbores in the Canadian basin (producer, injector, suspended, other)  Another 14,000 producing wells will be added in 2000, more in 2001  Continued wellbore growth permits continued service sector expansion  IPS provides essential services for all wellbores in oil and gas fields worldwide

5 New Company, New Name INTEGRATED PRODUCTION SERVICES LTD. “IPL” on TSE OTATCO INC. RELIANCE SERVICES GROUP LTD. 46%54% IPS was created April 5, 2000 through the amalgamation of OTATCO and Reliance

6 Competitive Advantages  Integrated approach to essential wellbore services  Experienced and skilled personnel  Engineering depth  Patents and proprietary technologies  Profitable international operations  Focus on natural gas completions, testing and production optimization

7 Doug Robinson Chief Executive Officer Richard Kines Chief Financial Officer PHOENIX Bob Duval Wireline Manager VIKING Mark Stormoen VP Gas Testing OTATCO Bob Copeland VP Production Svc Barry Lee Executive VP, COO David Yager President BOARD OF DIRECTORS - D oug Robinson – Chairman Rob Withers, David Yager, Walter Dawson Jamie Biluk, Keith Krausert, John Geddes, Ken Mullen Board of Directors, Management PREMIER SEA & LAND Richard Ironside, VP PROJECT MGMT, ENG Al Ronney, VP

8 Management and Board Depth and Experience  Over 335 years of diversified and successful oilfield service experience  Most officers and senior managers have founded and grown one or more successful oilfield service companies  Committed to the IPS business model and production (cased wellbore) focus

9 Wireline Services  A leading Canadian cased hole wireline company  third in Canada with 40 units  New equipment, average fleet age under 3 years  Capable customer interface (service & sales)  Broad market coverage  25 cased hole E-line units  6 combination E-line/slickline  9 slickline PHOENIX WIRELINE

10 Production Products, Services  Comprehensive oil & gas well optimization services  Leading technologies for surface evaluation  Production and reservoir engineering  Asset management, suspended and producing wells  Patented and proprietary oil tool manufacturing  Well automation and diagnostic instrumention

11 Gas Well Testing  AOF (Absolute Open Flow) testing of new and existing wells, 28 operating crews  Frac flowbacks, well cleanups  In-line testing of producing wells  New, portable and innovative equipment fleet that enjoys higher utilization rates  Capable personnel for high volume, high pressure, sour operations

12 International Operations  Asia - oilfield drilling and well servicing equipment procurement, rental, sales and service from operations based in Singapore  Saudi Arabia – production logging and AOF gas well testing, frac flowback, for ARAMCO  Indonesia - optimization services contract for Caltex (Chevron & Texaco) Premier Sea & Land

13 Project Management & Engineering  Project capability – completions, workovers, optimization, abandonments  Vertically integrated business model and business driver from desk engineers to field supervision  Engineering services for internal clients (OTATCO, Viking, Phoenix) and E&P companies I NTEGRA PROJECT MANAGEMENT & ENGINEERING

14 Proprietary Technologies, Patented Products  World leader in surface reservoir pressure measurement (acoustic pressure surveys)  17 commercial oil tool patents (29 patents in total)  Proprietary remote gas well optimization technology  Patented overbalanced tubing conveyed perforating method  Shell Line – combination slickline/e-line  Electric hydraulic pulling tool

15 Canada - All Customers, All Areas Estevan Ft. St. John Zama/Rainbow High Level Grande Prairie Lloydminster Red Deer Brooks Whitecourt Slave Lake Medicine Hat Calgary Edson

16 Project Mgmt & Engineering Artificial Lift Tools & Systems AOF Gas Well Testing Slickline Services Cased Hole Electric Line Oil & Gas Well Optimization Well Automation & Diagnostic Instruments International Markets Production & Reservoir Knowledge Integrated Production Services

17 Gas Well Testing AOF gas well testing equipment (Viking) Reservoir engineering and analysis (INTEGRA) Log & perforate initial completion (Phoenix)

18 Gas Well Optimization Plunger lift system sale and calibration (OTATCO) Slickline unit for installation & service (Phoenix) Engineering and remote control (OTATCO)

19 Perforating Services Electric cased hole wireline (Phoenix) Surface measurement technology (OTATCO) Well inflow production engineering (INTEGRA)

20 Market Information Basic Common Shares24.9 million Fully Diluted 28.3 million Recent Price (Feb 5)$2.61/share Market Cap (Feb 5)$73.9 million 52 Week High$ Week Low$1.40

21 Shareholders All IPS shares will be free trading July 10/01

22 Balance Sheet Summary Sep 30, 2000 ($ millions) w/SCF Funds Current Assets$47.4 Capital Assets$25.2 Patents, Goodwill$6.9 $79.5 Current Liabilities$13.3 Bank Term Debt$7.4 9% Convertible Debentures$5.2 Future Taxes$5.6 Shareholders’ Equity$48.0 $79.5

23 Financial Performance Nine Months to Sep 30, 2000 Revenue ($000)$38,942 EBITDA ($000)$8,258 Per Share $0.57 Cashflow ($000)$6,976 Per Share $0.50 Earnings Before Amort ($000)$3,268 Per Share$0.24 Earnings After Taxes$2,562 Per Share$0.19 -Provision for future taxes only. IPS is not taxable at this time -Based on 14,465,064 average fully diluted common shares

24 SCF Financing  $30 million equity financing in October 2000  Leading international oil service investment bank from Houston  Capital to add capacity in all business divisions to exploit high demand  Strong balance sheet, capital for expansion

25 Share Valuation Comparisons Nine Months to Sep 30 Price 1 EPS 2 P/E 3 Bonus$3.25 $ Delaney$0.70 $ Integrated Production Svc.$2.61 $ NQL Drilling Tools$7.02 $ Peak$3.05 $ Precision$57.80 $ Ryan$1.85 $ Tesco$18.15 $ Trican$13.74 $ ) Trading price on Monday February 5, ) Earnings per share for the 9 months ended Sep 30 3) Price/earnings ratio for the Jan 30 price and the Sep 30 reporting quarter

26 Industry Conditions  Oil and gas producers (IPS clients) enjoying record cashflow and earnings  Industry forecasts 17,5000 (PSAC) to 18,500 wells (CAODC) for 2001  International capital budgets increased  High utilization rates create opportunities to increase prices and margins  Oil prices stable, gas business in North America is real for the foreseeable future

27 The Future  Invest in strategic related businesses and assets maintaining cased wellbore focus  Expand value-added business model  Internation growth in core markets (SE Asia, Middle East)  Maintain and expand experienced field services team  Continue to exploit or develop new products, services & technologies

28 “IPL” on TSE “IPL” on TSE INTEGRATED PRODUCTION SERVICES LTD.


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