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SEC Filings

KEY ENERGY SERVICES INC filed this Form 8-K on 02/12/2018
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Slide 22

Market Opportunity Overview Multiple growth drivers identified moving forward Conventional Well Services Demand via Commodity Price Recovery Well Service Demand Normalization Deferred Maintenance “Catch-up” Effect Aging Horizontal Oil Wells Completion-driven Rig Demand Source: AESC, DrillingInfo, Wall Street Research, Key Energy Services, Inc. (1) Market growth consistent with methodology described on slides 21 & 23 of this presentation; assumes current Working Rigs as a % of Implied Rig Demand of 68%, incremental rigs at historical average of 94%. (2) Demand normalization defined as a return to historical Working Rigs as a % of Rig Demand of 94%; December 2017 was 66%. (3) Number of deferred maintenance wells utilized from slide 25; assumes work frequency described on slide 23 and assumes historical average Working Rigs as a % of Implied Rig Demand of 94% to determine DeM wells. (4) Calculated using 2019E horizontal well count backlog of ~110k wells in the regular maintenance interval as shown on slide 11. (5) Calculated as the average of 2019E completion rigs forecast shown on slide 29 less the estimated current number of completion rigs working based on a 4:1 drilling rig to completion rig ratio. Assumes full utilization of estimated working rigs.