Download presentation
Presentation is loading. Please wait.
Published bySemaj Boorman Modified over 9 years ago
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 over 190,000 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 CDNX 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 Successful consolidator - 16 focused acquisitions in five years
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 Richard Ironside VP, Eastern Hemisphere Premier Sea & Land 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 Barry Lee Executive VP & Chief Operating Officer
8
Management and Board Depth and Experience 300 years of diversified and successful oilfield service experience Every officer and senior manager has 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 28 units (34 with Jet) New equipment, average fleet age under 3 years Capable customer interface (service & sales) Broad market coverage 17 cased hole E-line units 4 combination E-line/slickline 7 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 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 Wholly-owned subsidiary serving SE Asia from operations base in Singapore Primary business oilfield equipment procurement, rental, sales and service Marketing vehicle for expansion of other IPS divisions, products and services Currently managing optimization contract for Caltex (Chevron & Texaco) Premier Sea & Land
13
Proprietary Technologies, Patented Products World leader in surface reservoir pressure measurement (acoustic pressure surveys) 15 commercial oil tool patents (27 patents in total) Proprietary remote gas well optimization technology Patented overbalanced tubing conveyed perforating method
14
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
15
Asset Management 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
16
Gas Well Testing AOF gas well testing equipment (Viking) Reservoir engineering and analysis (OTATCO) Log & perforate initial completion (Phoenix)
17
Gas Well Optimization Plunger lift system sale and calibration (OTATCO) Slickline unit for installation & service (Phoenix) Engineering and remote control (OTATCO)
18
Perforating Services Electric cased hole wireline (Phoenix) Surface measurement technology (OTATCO) Well inflow production engineering (OTATCO)
19
Market Information Basic Common Shares23,603,648 Fully Diluted 26,873,761 Recent Price (Oct 24)$2.50/share Market Cap (Sep 24)$67.2 million 52 Week High$3.05 52 Week Low$1.40
20
Shareholders APPROXIMATELY 2.2 MILLION SHARES WILL COME OUT OF ESCROW IN NOV 2000
21
Balance Sheet Summary June 30, 2000 ($ millions) w/SCF Funds Current Assets$39.5 Capital Assets$25 Patents, Goodwill$6.9 $71.5 Current Liabilities$6.8 Bank Term Debt$6.8 9% Convertible Debentures$5.2 Future Taxes$5.2 Shareholders’ Equity$47.5 $71.5
22
Financial Performance Six Months to June 30, 2000 Revenue ($000)$25,393 EBITDA ($000)$5,446 Per Share $0.40 Cashflow ($000)$4,668 Per Share $0.34 Earnings Before Amort ($000)$2,182 Per Share$0.16 Earnings After Taxes$1,716 Per Share$0.13 -Provision for future taxes only. IPS is not taxable at this time -Based on 13,695,856 average fully diluted common shares
23
Share Valuation Comparisons Six Months to June 30 Price 1 EPS 2 P/E 3 Bonus$3.15 $0.13 24 Delaney$0.75 $0.02 38 Integrated Production Svc.$2.48 $0.13 19 NQL Drilling Tools$8.00 $0.20 40 Peak$2.32 $0.06 39 Precision$51.20 $1.04 49 Ryan$2.75 $-.01 N/A Tesco$15.75 $0.04 394 Tetonka$4.60 $0.18 26 Trican$13.75 $0.31 44 1) Closing price on Friday, September 22, 2000 2) Earnings per share for the 6 months ended June 30 3) Price/earnings ratio for the September 22 price and the June 30 reporting quarter
24
SCF Financing $30 million equity financing, 11 million shares at $2.70 per share Leading international oil service investment bank Fully diluted shares 26,873,761 - $1.09/share in cash SCF will own 41% of IPS and hold 2 board seats Capital to add capacity in all business divisions to exploit high demand
25
ACTUAL & FORECAST FINANCIAL PERFORMANCE Q1 99 – Q4 01
26
Industry Conditions Oil and gas producers (IPS clients) enjoying record cashflow and earnings Demand for oilfield equipment and services in Q4 2000 and Q1 2001 will be unprecedented High utilization rates, opportunities to increase prices Oil prices always open for debate, but the gas business in North America is real for the foreseeable future
27
The Future Complete TSE listing Announce targeted expansion opportunities, acquisitions Maintain aggressive growth Raise investor profile Objective to achieve or exceed average industry trading multiples
28
“IPL” on CDNX “IPL” on CDNX INTEGRATED PRODUCTION SERVICES LTD.
Similar presentations
© 2024 SlidePlayer.com Inc.
All rights reserved.