investor presentation

INVESTOR PRESENTATION
OCTOBER 2014
ASSUMPTIONS AND FORWARD-LOOKING STATEMENTS
!
This presentation contains certain statements and information that may constitute “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts that address activities, events or developments that we expect,
believe or anticipate will or may occur in the future are forward-looking statements. The words “anticipate,” “believe,” “ensure,”
“expect,” “if,” “intend,” “plan,” “estimate,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “potential,”
“would,” “may,” “probable,” “likely,” and similar expressions, and the negative thereof, are intended to identify forward-looking
statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically
include statements, estimates and projections regarding our business outlook and plans, future financial position, liquidity and
capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, costs and other guidance regarding
future developments. Forward-looking statements are not assurances of future performance. These forward-looking statements
are based on management’s current expectations and beliefs, forecasts for our existing operations, experience, and perception of
historical trends, current conditions, anticipated future developments and their effect on us, and other factors believed to be
appropriate. Although management believes that the expectations and assumptions reflected in these forward-looking statements
are reasonable as and when made, no assurance can be given that these assumptions are accurate or that any of these
expectations will be achieved (in full or at all). Moreover, our forward-looking statements are subject to significant risks and
uncertainties, many of which are beyond our control, which may cause actual results to differ materially from our historical
experience and our present expectations or projections which are implied or expressed by the forward-looking statements.
Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are
not limited to, risks relating to economic conditions; volatility of crude oil and natural gas commodity prices; delays in or failure of
delivery of current or future orders of specialized equipment; the loss of or interruption in operations of one or more key suppliers
or customers; oil and gas market conditions; the effects of government regulation, permitting and other legal requirements,
including new legislation or regulation of hydraulic fracturing; operating risks; the adequacy of our capital resources and liquidity;
weather; litigation; competition in the oil and natural gas industry; and costs and availability of resources.
!
For additional information regarding known material factors that could cause our actual results to differ from our present
expectations and projected results, please see our filings with the Securities and Exchange Commission, including our Current
Reports on Form 8-K that we file from time to time, Quarterly Reports on Form 10-Q, Annual Report on Form 10-K and the
Information Statement included as Exhibit 99.1 to our Form 10 (Commission File No. 001-36354) filed on June 16, 2014.
!
Readers are cautioned not to place undue reliance on any forward-looking statement which speaks only as of the date on which
such statement is made. We undertake no obligation to correct, revise or update any forward-looking statement after the date
such statement is made, whether as a result of new information, future events or otherwise, except as required by applicable law.
2
COMPANY FACTS
•  Spun off from CHK July 1, 2014.
•  Traded on NYSE under SSE
•  Annual Revenues of $2.0 B
•  Over 5000 employees
3
BUSINESS SEGMENTS AND OUTLOOK
Description
Drilling
q  Provides land drilling and drilling-related services,
including directional drilling and mudlogging
q  Marketed fleet includes 22 Tier 1 rigs, including
12 fit-for-purpose PeakeRigs™, 57 Tier 2 rigs and
3 Tier 3 rigs
Q3 2014
Adjusted
Revenue
200
Q3 2014 Adjusted
Adjusted EBITDA
EBITDA¹ Margin
82
41.1%
Hydraulic Fracturing
q  Provides high-pressure hydraulic fracturing
services
q  9 hydraulic fracturing fleets with an aggregate of
360,000 horsepower
Oilfield Rentals
q  Provides premium rental tools and specialized
services for land-based oil and natural gas drilling,
completion and workover activities
q  Provides water transport and disposal solutions
Oilfield Trucking
q  Provides drilling rig relocation and logistics
services
245
57
23.1%
39
14
35.2%
41
4
9.1%
2014 - 2015 Business
Outlook Drivers
q  4 new contracted rigs by YE
2014
q  10 new contracted rigs by YE
2015
q  1 additional spread by YE
2014 (40,000 additional HP)
q  Flat pricing in 2015
q  Other non CHK expansion
q  Other non CHK expansion
q  Other non CHK expansion
Note: $mm
1 “Adjusted EBITDA” is a non-GAAP financial measure that we define as net income before interest expense, income tax expense, depreciation and amortization, as further adjusted to add back impairments and
gain or loss on sale of property and equipment; Nomac Drilling reflects EBITDA net of rig rental expense of $4mm (EBITDAR); Total SSE reflects sum of segment EBITDA net of Other Segment net loss from G&A
and D&A of $34mm, Interest Expense of $24mm, Other Segment Tax Benefit ($23mm), and Other Non-Cash Comp of $9mm; Total net adjustments are approximately ($24mm). See pages 22-28 of this
presentation for a reconciliation of GAAP measures to comparable financial measures calculated in accordance with GAAP.
4
SSE IS AMONG THE LEADING NORTH AMERICAN SERVICES
COMPANIES
!
SSE has significant scale to effectively compete with its North American peers
!   2013 Revenue (in billions)
6.2
4.6
3.4
2.7
2.2
2.0
2.0
1.9
1.9
1.6
1.5
1.3
1.1
1.0
0.9
0.8
0.3
NBR
Source: Bloomberg SPN
HP
PTEN
SSE
TCW
ESI
PD
RES
KEG
CFW
BAS
CJES
PES
PKD
TDG
FRC
5
CUSTOMER DIVERSIFICATION STRATEGY
!
Replicate Nomac success in winning other non CHK
business with PTL and Great Plains
§ 
!
Selected Customers
Increased Nomac non CHK rigs to 42% today from
9% at beginning of 2012
Build business development team
§ 
Increasing business development staff
§ 
Focusing on significant industry experience
§ 
Building out Great Plains sales team in second half
of 2014; focus on growth without material additional
capital outlay
6
BACKLOG AND SERVICE CONTRACT SUMMARY
As of September 30, 2014, our contractual backlog¹ was
approximately $2.6B, ~10% of which was related to contracts with
operators other than Chesapeake
§ 
!
Backlog expected to provide 50% to 60% of revenue from Sept. 2014 to
Sept. 2015
Backlog includes new services contracts entered into with
Chesapeake in connection with the spin-off under which
Chesapeake committed to use the services described below,
subject to its rights to terminate the contracts in specified
circumstances
§ 
§ 
$2.6B
3 Year Backlog
Nomac rig-specific daywork drilling contracts for a term ranging from three
months to three years as set forth below:
§ 
1 year term – 10 Rigs
§ 
2 year term – 5 rigs
§ 
3 year term – 25 Rigs
§ 
Three month terms plus three month auto renewal option – 11
Rigs
1,210
683
PTL hydraulic fracturing services agreement that provides Chesapeake
will utilize the lesser of (i) the number of crews set forth below:
§ 
Year 1 – 7 Crews
§ 
Year 2 – 5 Crews
§ 
Year 3 – 3 Crews
or (ii) percent (50%) of the total number of all pressure pumping crews
working for Chesapeake in all of its operating regions during the
respective year.
!
Contracted Revenues by Business Segment
$mm
!
Recent non CHK customer contract wins for PTL and Great Plains
854
461
491
194
220
66
5
333
327
Yea r 1
Yea r 2
Nomac – CHK
Nomac – Non CHK
266
Yea r 3
PTL – CHK
¹ We calculate our contract drilling backlog by multiplying the day rate under our contracts by the number of days remaining under the contract. We calculate our hydraulic
fracturing backlog by multiplying the rate per stage by the number of guaranteed stages remaining under the contract. The backlog calculation does not include any reduction in
revenues related to mobilization or demobilization, nor does it include potential reductions in rates for unscheduled standby or during periods in which the rig is moving, on
standby or incurring maintenance and repair time in excess of what is permitted under the drilling contract. In addition, many of our contracts are subject to termination by the
customer on short notice and provide for an early termination payment to us in the event that the contract is terminated by the customer. As a result, revenues could differ
materially from the backlog amounts presented.
7
• 
Industry leading HSE performance
- Five consecutive quarters with TRIR < 1.0
• 
5th largest driller in the US
• 
4400 wells drilled since 2007
• 
World record 24 HR lateral length
• 
87 Operated rigs
• 
• 
All rigs have top drives and over 70% are padcapable, being equipped with skidding or walking
systems
Delivering 14 new PeakeRigs TM ‘14-15
NOMAC DRILLING
!
!
Currently the 4th
largest drilling rig
contractor in the U.S.¹
Utica Shale
(7 - CHK, 11 - Other)
Nomac has 87 active
rigs which operate
across unconventional
plays (50 operating for
CHK; 37 operating for
other parties)²
Marcellus Shale
Powder River and DJ
Basins
(4 - CHK, 0–Other)
(3 - CHK, 2 - Other)
Haynesville Shale
Anadarko Basin
(13 - CHK, 17 - Other)
(7 - CHK, 0 – Other)
Barnett Shale
(0 - CHK, 1 – Other)
Permian Basin
(0 - CHK, 5 - Other)
Eagle Ford Shale
(16 - CHK, 1 - Other)
¹ Based on RigData active rig count as of 9/26/2014
² Rig count from the 9/30/2014 Nomac report: excludes refurbished, stacked, training and under construction rigs
Nomac Operating Areas
(Bubble Size by Nomac Rig Count)
9
EVOLUTION OF OUR FLEET
!
Improving tier mix contributes to higher operating margin, continuing to increase with rig
newbuilds, conversions, and removal of Tier 3 rigs
!
Based on contracted newbuilds, we expect to have 95 rigs by YE 2015 with 38% Tier 1
rigs
13 PeakeRig newbuilds over next 15 months
§ 
Number of Rigs - Year End
Fleet Evolution and Operating Margin
Operating Margin
160
42%
YTD Q3 2014
40%
120
113
8
91
80
12
56
85
88
20
26
98
38%
41
36%
34%
57
40
57
57
49
57
32%
22
0
2011
2012
Tier 1
1 Operating
Margin through YTD Q3 2014; rig count as of year end
Tier 2
8
5
2013
2014E
Tier 3
30%
2015E
Operating Margin1
10
NOMAC RIG FLEET COMPARED TO PEERS
!
Working to convert fleet to meet longterm drilling needs of all customers
!
Currently 91% of our Tier 1 rigs and
63% of our Tier 2 rigs are multi-well
pad-ready and able to meet the robust
demands of E&P customers focused on
unconventional resource development
US Land Rig Fleet Mix
Sep 2014¹
90%
57%
54%
44%
42%
34%
24%
18%
13%
2%
49%
32%
82%
64%
32%
!
!
Placed 3 proprietary PeakeRigs into
service this year, fabricating 3
additional which are expected to be
delivered by the end of the year with an
additional 10 rigs expected to be
delivered in 2015
Total US Land Rig Fleet Mix¹
Tier 1
38%
Tier 2
25%
Tier 3
37%
49%
50%
34%
50%
23%
34%
23%
10%
PEERS
58%
A
¹ Source: RigData Weekly Locations and Operators Report list as of 9/18/2014, internal estimates
2Nomac rig total based on marketed rigs, excludes cold stacked and rigs held for sale
12%
9%
B
7%
C
5%
D
E
Nomac
2015E
Tier 1
F
G
H
Nomac²
Tier 2
Tier 3
11
• 
9 Frac spreads – 360K HHP
• 
10th spread deploying Q4 2014
• 
Average fleet age - ~ 2 years
• 
80 plus stages/month
• 
Company owned sand terminals – Unit
train capable
• 
State of the art process controlled
operation
PERFORMANCE TECHNOLOGIES
Utica Shale
3 spreads operating
Anadarko Basin
1 spreads operating
Barnett Shale
1 spread operating
Eagle Ford Shale
4 spreads operating
PTL Operating Areas
(Bubble Size by Spread Count)
As of 9/30/2014
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HYDRAULIC FRACTURING SUPPLY CHAIN INTEGRATION
!
Storage and Distribution
Facilities
Own and operate two strategically positioned sand storage and trans
load facilities, one in Oklahoma with storage capacity of 140 million
pounds and one in south Texas with 80 million pound capacity
§ 
Transloading Facilities
South Texas facility accepts multi-unit trains which secures more
favorable rail rates and significantly reduces the number of rail
car leases required to manage inventory
!
Executed JV with a dedicated hydraulic fracturing sand carrier to
ensure adequate truck transportation services for hauling hydraulic
fracturing sand from regional distribution points to the well site
!
Long term rail car leases procured for the bulk transportation of
hydraulic fracturing sand by rail from the mine to regional distribution
Rail Cars
hubs
!
Own mineral mining leases totaling approximately 2,000 acres at
multiple sand mining sites in Wisconsin; plan to self source a majority
Sand Reserves
of sand supply by 2016 helping to mitigate future impact of sand price
volatility
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• 
World class equipment, less than 5 years
old
• 
Rental equipment
• 
• 
• 
Drill Pipe, Tubing, Mud Tanks, Matting, Frac
Tanks, Acid Tanks, Light Plants, Blowout
Preventers, Containment
Water Transfer
• 
Engineered water transfer, layflat hose
systems, trailer mounted booster pumps
• 
150 water transport trucks
Air Drilling
• 
Boosters, compressors, and personnel for
various air drilling applications
GREAT PLAINS ASSET BASE AND SERVICES
!
Great Plains provides premium rental tools and
specialized services for land-based oil and
natural gas drilling, completion, and workover
activities
!
Tool Rental
!
§ 
Downhole tubular products including high-torque,
premium-connection drill pipe, drill collars, and
tubing
§ 
Surface rental equipment including blowout
preventers, frac tanks, mud tanks, and
environmental containment
Air Package
Tanks
Services
§ 
Water transfer services offering lay-flat hose and
leveraging Great Plains’ surface rental asset base
§ 
Air drilling services in the Marcellus and Utica
§ 
Flowback and pressure control
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SEVENTY SEVEN TRUCKING ASSETS
Water Hauling Truck
!
Great Plains provides water transport and
disposal service solutions
§ 
!
As of Sept. 30, 2014, we owned a fleet of
148 water transport trucks that haul water
to and from wells in the Anadarko Basin and
the Eagle Ford, Marcellus, and Utica Shales
Truck Fleet
Hodges has provided drilling rig relocation
and logistics services for over 80 years
§ 
As of Sept. 30, 2014, we owned a fleet of
261 rig relocation trucks and 68 cranes and
forklifts
Oilfield Trucking Assets
Transportation Truck
Hodges Crane
Units
Transporta4on Trucks 195 Water Hauling Trucks 148 Crane & ForkliA 68 Rig Up 66 17
• 
Leading HSE performance – TRIR 60%
below competitor average
• 
260 rig relocation trucks
• 
67 rig cranes
• 
Averaged over 100 rig moves/month
• 
Asset base average age – 4 years
• 
Truck pushers average 10 years with
company
MATURITY AND DEBT SERVICE SCHEDULES
Maturity Schedule
$275
$650
$374
$2
2014
$4
2015
$4
2016
$4
2017
$4
2018
$4
2019
$4
2020
3.992%¹
2021
3 .750%³
$500
2022
6 .500% 4
6.625%²
Term L oan
Sr. N otes
ABL Credit Facilty
Interest Schedule5
$76
$76
$76
$76
$76
$59
$33
$33
$8
$15
$15
$15
$14
$14
$14
$7
2014
2015
2016
2017
2018
2019
2020
2021
Term L oan
Sr. N otes
¹ 4.00% base rate; 1.75% letter of credit
² 6.625% Senior Notes due 2019; first call price at 103%.313 on 11/15/2015
³ 3.00% + LIBOR with 75bps LIBOR floor
4 6.500% Senior Notes due 2022; first call price at 104.875% on 7/15/2017
5 Assumes Term Loan interest of 3.75% and no early call on Sr. Notes. / The $500 Senior Notes and Term Loan have issue dates as of 6/26/14 and 6/25/2014 respectively.
$16
2022
19
MANAGEMENT TEAM
Jerry Winchester, CEO
q 
q 
q 
Served for thirteen years as the President and CEO of Boots & Coots International Well Control, Inc. which was acquired by Halliburton in
September 2010
Started his career with Halliburton in 1981 as a fracturing equipment operator and served in positions of increasing responsibility, most
recently as Global Manager over Well Control, Coil Tubing and Special Services
29 years of industry experience
Cary D. Baetz, CFO
q 
q 
q 
q 
Served as Senior Vice President and Chief Financial Officer of Atrium Companies, Inc. From November 2010 to December 2011
Served with Mr. Winchester as Chief Financial Officer of Boots & Coots from August 2008 to September 2010
Served as Vice President of Finance, Treasurer, and Assistant Secretary of Chaparral Steel Company from 2005 to 2008
26 years of industry experience
Karl Blanchard, COO
q 
q 
q 
Joined SSE in June 2014
Previously served as Vice President of Production Enhancement of Halliburton Company
Began his career at Halliburton in 1981, also serving as Vice President of Cementing, Vice President of Testing and Subsea, and President
Director of PT Halliburton Indonesia
Jay Minmier, President - Nomac Drilling
q 
q 
q 
President since June 2011
Previously served as Vice President and General Manager for Precision Drilling Corporation More than 20 years experience with drilling contractors, notably Grey Wolf Inc. and Helmerich & Payne, Inc.
William R. Stanger, President – Performance Technologies (PTL)
q 
q 
q 
President since 2011
Joined Chesapeake Energy in January 2010 as President of Great Plains Oilfield Rentals
A former Vice President of Schlumberger with more than twenty-five years experience in oilfield services
Jerome Loughridge, President – Great Plains Oilfield Rental
q 
q 
q 
President since September 2012
Previously served as President of Black Mesa Energy Services, the oilfield investment arm of private equity firm Ziff Brothers Ventures;
Executive Chairman of completions service provider Legend Energy Services; and Chief Operating Officer of Great White Energy Services
Eight years of oilfield management experience
20
CORPORATE INFORMATION
CORPORATE CONTACTS
SSE HEADQUARTERS
!
77nrg.com
!
777 NW 63rd St.
Oklahoma City, OK 73116
405-608-7777
!
Bob Jarvis
Senior Director – Investor
Relations and Marketing
[email protected]
405-935-2572
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