2012 Louisiana Energy Conference. International Oil Services Panel. June 28 th, 2012 New Orleans

Transcription

1 2012 Louisiana Energy Conference International Oil Services Panel June 28 th, 2012 New Orleans

2 Forward-Looking Statements This presentation contains forward-looking statements. All forward-looking statements speak only as of the date of this presentation or, in the case of any document incorporated by reference, the date of that document. All subsequent written and oral forward-looking statements attributable to the company or any person acting on the company s behalf are qualified by the cautionary statements in this section. The company does not undertake any obligation to update or publicly release any revisions to forwardlooking statements to reflect events, circumstances or changes in expectations after the date of this report. Actual experience may differ and such differences may be material. Backlog consists of written orders and estimates for our services which we believe to be firm. In many instances contracts are cancelable by customers so we may never realize some or all of our backlog, which may lead to lower than expected financial performance. Forward-looking statements are subject to uncertainties and risks which are disclosed in Geokinetics Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 2

3 Geokinetics at a Glance Transition Zone Ocean Bottom Cable Worldwide leader in TZ/shallow water seismic data acquisition Purpose-built vessels (GeoTiger Series I) designed for cost-effective mobilization by air, land or sea Up to 65 in length, ultra shallow draft vessels Launched OBC operations Q First operator of Sercel SeaRay Offshore capabilities to 500 ft. water depth Improving OBC capabilities GeoTiger Series II Marine Fleet and Multi-Client Extensive onshore capabilities, including: Mountain, jungle, desert and arctic terrain Unconventional (Shale) Data Processing Two Processing Centers (Houston, London) Four satellite processing centers (Mexico, Luanda, Rio, Calgary) 3

4 Competitive scape Data Acquisition Company Marine Streamer Intl North America Shallow Water M C Library Data Proc. Equip. CGG Veritas (Sercel) WesternGeco (Schlumberger) PGS BGP Geokinetics Global Geophysical TGS Nopec ION Geophysical Dawson Seitel OYO Geospace Tidelands Mitcham 4

5 Capital Budget Survey Results E&P Spending Budgets ($ in billions) $500 $400 $300 $200 $100 $115.8 $125.7 $38.0 $38.0 $402.2 $450.8 $0 US Canada International 2011A 2012E Global exploration and production (E&P) expenditures are expected to increase by 10.5% in 2012 despite global macroeconomic headwinds North America: U.S. E&P spending estimated to increase by 8.5% and Canada E&P spending estimated to decrease by 0.2% in 2012 International E&P spending estimated to increase by 12.1% in 2012 Source: Barclays Capital The Original E&P Spending Survey, May 18,

6 Geographic Reach Alaska 1 () Canada 3 () USA 8 () Colombia Algeria Tunisia Egypt /TZ Mexico 2 (OBC, ) Peru Libya Cameroon TZ Malaysia /TZ Brunei TZ Bolivia Brazil 2 () Angola /TZ Australia /TZ 6

7 Geographic Reach Canada 1 () Offices Data Processing Centers USA 7 () Mexico 3 (1OBC,2 ) Malaysia 1 (TZ/) Peru 1 () Brazil 2 () Angola 1 () Australia 2 ~18 crews in place (~16 active with 10 generating revenue) as of June 22 nd, 2012 Notes: (1) Crews vary in size and can be increased, decreased, split or combined depending on the job (2) Active crew defined as a crew that is currently generating revenue or currently preparing to work 7

8 Backlog Details Backlog Metrics as of 3/31/12 Geographic Backlog Split 11% 5% 84% Intl. Backlog Split By Customer Type 24% 76% Intl. Backlog Split By Project Type 30% 70% International North America NA Multi-Client NOC Other OBC/TZ Backlog History ($ in millions) $800 $700 $600 $500 $400 $300 $200 $100 $0 $741.1 $760.6 $641.7 $508.7 $548.3 $519.3 $557.6 $636.1 $590.6 $416.3 $427.5 $464.7 $318.3 $259.0 $ Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 Note: PGS Onshore backlog included as of 1Q10 8

9 Diversified Customer Base Solid relationships with National Oil Companies (NOCs), International Oil Companies (IOCs) and independent oil and natural gas producers Pemex and Petrobras combined represent approximately 31% of total revenues in Q

10 Historical Financials Historical Revenue & Adjusted EBITDA Trends $900 $800 $763.7 $700 ($ in millions) $600 $500 $400 $300 $200 $100 $0 $558.1 $511.0 $474.6 $357.7 $225.3 $163.5 $64.9 $84.6 $84.8 $22.6 $34.9 $26.0 $ Q Revenue Adjusted EBITDA Notes: (1) Adjusted EBITDA reclassified to conform to current period financial statement presentation (2) Adjusted EBITDA excludes $1.4 million of one-time, non-recurring costs in 3Q06 related to the Grant Geophysical acquisition (3) Adjusted EBITDA excludes $3.2 million of one-time severance costs in 3Q07 related to CEO departure and restructuring of data processing segment (4) Adjusted EBITDA excludes $1.3 million and $5.2 million of one-time, non-recurring costs in 2009 and 2010, respectively, related to the PGS Onshore acquisition 10

11 Significant International Exposure Geographic Revenue Split 120% 100% 80% 60% 40% 20% 0% 18% 50% 40% 37% 40% 39% 74% 100% 82% 50% 60% 63% 60% 61% 26% E International North America Expect majority of revenues to continue to be generated internationally Shallow water projects comprise ~30% of international backlog as of 3/31/12 Approximately 76% of international backlog is with NOCs as of 3/31/12 11

12 2012 Louisiana Energy Conference International Oil Services Panel June 28 th, 2012 New Orleans