International Revenue per Rig

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BJ Services Company
UBS Warburg Global Energy Utilities Conference
February 12, 2002
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Record Revenue
Revenue (millions)
Rigs
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Record Revenue
Revenue (millions)
Revenue per Rig (000s)
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Geographic Revenue Performance
( in millions)
2001
2000 Change
Rigs U.S. / Mexico 1,230.5
743.8 65 39 Canada 238.5 205.9 16
9 Europe / Africa 148.3 121.7 22 19
Middle East 78.3 52.2 50 13 Asia
Pacific 96.9 70.2 38 19 Latin
America 187.9 149.9 25 24 Russia /
China 44.7 28.6 57 n/a Other Services
207.8 182.4 14 n/a
Total 2,233.5 1,555.4 44 27
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EBITDA
( in millions)
Excludes unusual and non-recurring charges
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Earnings per Share
Guidance
Excludes unusual and non-recurring charges
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Return on Investment
(Net Capital Employed)
Excludes unusual and non-recurring charges
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Financial Strength
(Debt / Total Capitalization)
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Stock Performance
(Since BJs IPO - July 1990)
Peer Group BHI, SLB, HAL SII
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Stock Performance
(Since September 30, 2000)
Peer Group BHI, SLB, HAL SII
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Performance Drivers

• Acquisitions and Consolidation
• Product Line Expansion
• Technology Development
• Improvement Initiatives
• Market Recovery

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BJ Acquisitions Since 1990
Company
Year Salvesen 1992 Vestfonn
JV 1992 Norsk Bron Service 1993 SIAT 1993 Eg
ypt JV 1994 Western Company 1995 Nowsco 1996
Brazil JV 1996 Argentina JV 1997 Top Tool
Company 1997 Bolivia JV 1998 Fracmaster 1999 C
hallenge Pipeline Services 1999 Sarku-NOWSCO 2000
Preeminent Energy Services 2001 Search
Equipment Rentals 2001
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BJ Services Products / Services
2001 Revenue - 2.2 billion
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International Revenue vs Rigs
(Excludes Canada)
Revenue ( millions)
Rigs
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Pressure Pumping Market Shareby Service Area2001
Europe 25
Canada 45
Middle East20
U.S. 29
Far East 35
Africa 15
Latin America 29
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Geographic Expansion Focus
Russia
Mexico(200 mm)
Central Asia (100 mm)
West Africa (350 mm)
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Coiled Tubing Revenue
(millions)
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Service Completion Tools Revenue
(in millions)
Estimated Market Size 1.1 Billion
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Eleven Years of Innovation
Research and Engineering Expense(millions)
New Frac Pumps
Sandstone Acid System
Spectra Frac G Fluid System
MudZyme Mud Removal System
Flexsand Fluid Additive
EnZyme G Polymer Clean-up
Super Rheo Gel Fluid
AquaCon
Cyclone Blender for Sand Control
Vistar Frac Fluids
Medallion and Spartan Frac Fluid
Systems
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Equipment Manufacturing
Due to its large size, the equipment pictures are
not available on this webcast
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2001 versus Prior Cycle Peak
(s in millions except per share amounts)
LTM 2001 6/30/98 Change Revenue
2,234 1,590 41 Average Rigs
2,272 2,132 6.6 Gross Margins
714 403 77 Revenue 32.0
25.3 6.7 Operating Income 536
252 175 Revenue 24.0 15.8
8.2 Earnings per Share 2.09
0.95 120 Cash Flow per Share
2.72 1.49 83 Incremental Operating
Income 44
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Share Repurchase Program
(s in millions, except per share amounts)
s Shares 1998 through 2001
397 21.8 Q1 FY 2002 102 4.4
Total 499 26.2 Remaining Authorized
251 Split Adjusted
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Q1 2002 Highlights
(s in millions)
Q101 Q102 Change Revenue 490
510 4 Average Rigs 2,159
2,030 - 6 Gross Margins
142 146 3 of Revenue
29.1 28.6 - 0.5 Operating
Income 101 105 4 of
Revenue 20.6 20.6 0.0
Earnings per Share 0.38 0.42 11
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2002 U.S. Activity Outlook
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2002 Strategy

• North America - Focus on cost control
• Expand in international markets
• Maintain capital spending level of 2001
• Technology
• Share repurchases
• Acquisitions

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BJ Services Company
UBS Warburg Global Energy Utilities Conference
February 12, 2002