EX-99.2 3 a19-6812_3ex99d2.htm EX-99.2

Exhibit 99.2

 

 

 

Combined
Pro Forma

 

Combined
Pro forma

 

Combined
Pro Forma

 

Combined
Pro Forma

 

Combined
Pro Forma

 

 

 

Quarter Ended
March 31,

 

Quarter Ended
June 30,

 

Quarter Ended
September 30,

 

Quarter Ended
December 31,

 

Year Ended
December 31,

 

Segment Information

 

2018

 

2018

 

2018

 

2018

 

2018

 

(in thousands, except per unit data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Permian

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

36,688

 

$

43,828

 

$

50,716

 

$

53,349

 

$

184,581

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

108,361

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

84,265

 

Other Operating Data:

 

 

 

 

 

 

 

 

 

 

 

Average daily rate(1)

 

$

79.9

 

$

82.9

 

$

81.9

 

$

85.6

 

$

82.8

 

Average available beds(2)

 

5,477

 

6,018

 

6,996

 

7,092

 

6,402

 

Utilization(3)

 

88

%

93

%

94

%

94

%

92

%

 

 

 

 

 

 

 

 

 

 

 

 

Bakken

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

5,570

 

$

7,061

 

$

7,400

 

$

5,782

 

$

25,813

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

10,554

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

6,375

 

Other Operating Data:

 

 

 

 

 

 

 

 

 

 

 

Average daily rate(1)

 

$

79.2

 

$

78.9

 

$

79.1

 

$

80.1

 

$

79.3

 

Average available beds(2)

 

1,607

 

1,576

 

1,597

 

1,413

 

1,548

 

Utilization(3)

 

40

%

51

%

53

%

44

%

47

%

 

 

 

 

 

 

 

 

 

 

 

 

Government

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

16,521

 

$

16,634

 

$

16,864

 

$

16,657

 

$

66,676

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

47,438

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

5,068

 

Other Operating Data:

 

 

 

 

 

 

 

 

 

 

 

Average daily rate(1)

 

$

74.6

 

$

75.0

 

$

74.7

 

$

74.6

 

$

74.7

 

Average available beds(2)

 

2,492

 

2,461

 

2,403

 

2,400

 

2,439

 

Utilization(3)

 

96

%

98

%

100

%

100

%

98

%

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

892

 

$

1,212

 

$

2,304

 

$

20,364

 

$

24,772

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

5,378

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

1,388

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate costs

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expense

 

$

11,225

 

$

9,308

 

$

13,957

 

$

10,210

 

$

44,700

 

 

 

 

 

Combined
Pro Forma

 

Combined
Pro Forma

 

Combined
Pro Forma

 

Combined
Pro Forma

 

Combined
Pro Forma

 

 

 

Quarter Ended
March 31,

 

Quarter Ended
June 30,

 

Quarter Ended
September 30,

 

Quarter Ended
December 31,

 

Year Ended
December 31,

 

Segment Information

 

2017

 

2017

 

2017

 

2017

 

2017

 

(in thousands, except per unit data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Permian

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

9,205

 

$

16,104

 

$

23,360

 

$

31,507

 

$

80,176

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

39,671

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

60,101

 

Other Operating Data:

 

 

 

 

 

 

 

 

 

 

 

Average daily rate(1)

 

$

82.1

 

$

81.5

 

$

79.9

 

$

80.4

 

$

80.7

 

Average available beds(2)

 

1,653

 

2,272

 

3,251

 

4,427

 

2,909

 

Utilization(3)

 

81

%

87

%

90

%

88

%

87

%

 

 

 

 

 

 

 

 

 

 

 

 

Bakken

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

4,511

 

$

4,994

 

$

5,881

 

$

6,964

 

$

22,350

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

9,333

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

460

 

Other Operating Data:

 

 

 

 

 

 

 

 

 

 

 

Average daily rate(1)

 

$

79.6

 

$

78.8

 

$

75.9

 

$

72.1

 

$

76.2

 

Average available beds(2)

 

1,622

 

1,614

 

1,613

 

1,609

 

1,614

 

Utilization(3)

 

27

%

37

%

44

%

42

%

38

%

 

 

 

 

 

 

 

 

 

 

 

 

Government

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

16,419

 

$

16,731

 

$

16,920

 

$

16,652

 

$

66,722

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

48,613

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

84

 

Other Operating Data:

 

 

 

 

 

 

 

 

 

 

 

Average daily rate(1)

 

$

74.4

 

$

74.3

 

$

75.5

 

$

74.9

 

$

74.8

 

Average available beds(2)

 

2,488

 

2,498

 

2,497

 

2,496

 

2,495

 

Utilization(3)

 

96

%

96

%

96

%

96

%

96

%

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

1,167

 

$

821

 

$

1,401

 

$

335

 

$

3,724

 

Adjusted Gross Profit

 

 

 

 

 

 

 

 

 

1,389

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate costs

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expense

 

$

3,665

 

$

5,547

 

$

5,299

 

$

13,350

 

$

27,861

 

 

(1)         Average daily rate is calculated based on specialty rental income and services income received over the period indicated, excluding TCPL construction revenue included in services income divided by utilized bed nights.

 

(2)         Average available beds is calculated as the sum of the number of available beds over the period indicated divided by the number of days in the period.

 

(3)         Utilization is calculated based on utilized beds divided by average available beds.