Omni Energy Services 8-K Omni to Present at Burkenroad Reports

1

Presentation

Burkenroad

Reports Investment Conference

April 25, 2008

Exhibit 99.2

2

Disclosure

This Company Overview (“Overview”) has been prepared by management of OMNI Energy Services

Corp.  This Overview is intended solely for informational purposes.

Certain

statements

in

this

presentation

contain

forward-looking

statements

within

the

meaning

of

Section

27A

of

the

Securities

Act

of

1933,

and

Section

21E

of

the

Securities

Exchange

Act

of

1934.

All

forward-looking

statements

included

in

this

presentation

are

based

on

information

available

to

us

as

of

the

date

hereof

and

we

assume

no

obligation

to

update

any

forward-looking

statements.

Forward-

looking

statements

involve

known

or

unknown

risks,

uncertainties

and

other

factors,

which

may

cause

our

actual

results,

performance

or

achievements,

or

industry

results

to

be

materially

different

from

any

future

results,

performance

or

achievements

expressed

or

implied

by

such

forward-looking

statements.

Factors

that

could

cause

or

contribute

to

such

differences

include

but

are

not

limited

to

risks

associated

with:

OMNI's

dependence

on

activity

in

the

oil

and

gas

industry,

commodity

prices,

labor

shortages,

international

expansion,

dependence

on

significant

customers,

seasonality

and

weather

risks,

competition,

technological

evolution,

the

ultimate

outcome

of

pending

litigation,

completion

of

strategic

transactions

under

consideration

by

OMNI

and

other

risks

detailed

in

the

Company's

filings

with

the

Securities

and

Exchange

Commission;

and

the

other

factors

including,

but

not

limited

to,

the

items

discussed

under

"Risk

Factors"

contained

in

our

Report

on

Form

10-K

for

the

year

ending

December

31, 2007.

3

James Eckert

President and Chief Executive Officer

Brian Recatto

Chief Operating Officer

Ronald Mogel

Sr. Vice President and Chief Financial

Officer

OMNI Executive Management Team

4

Investment Highlights

Commodity Prices and Sector Fundamentals remain strong

Focused on Attractive Geographic Markets

Leading Position in Seismic Drilling Market

Management Averages 31 Years of Experience

Continued Solid Results

Strong Operational Cash Flows

5

Introduction

OMNI Energy Services Corp. (“OMNI”) is an industry leading, publicly-traded (Nasdaq

GM: OMNI) oilfield services company that specializes in providing a broad range of

integrated services

Headquartered in Carencro, Louisiana

Approximately 800 highly qualified employees

Operations in the Gulf of Mexico, southern United States (including the Barnett Shale

region) and the Rocky Mountains

6

Company Overview

OMNI focuses its operations on:

Maintaining visibility across E&P cycle;

Balancing profitability across businesses;

Retaining flexibility to expand into complementary services; and

Acquiring and retaining management teams that can grow the Company

Seismic Drilling

Services

Equipment

Leasing

Environmental

Services

Fluid and

Transportation

Services

Specialized

Services

7

Dominant seismic drilling provider in both the Transition Zone (primarily Louisiana and Texas) and the

contiguous Highland areas

Approximately 85% of the seismic drilling market share in the Transition Zone

Approximately 65% of the seismic drilling market share in the Highland areas

Leading player in Environmental Services, Equipment Leasing and Fluid and Transportation Services

State-of-the-art, environmentally sensitive marine transportation equipment

The Company’s scale and scope provide significant competitive advantages:

Ability to provide services to a broad customer universe

Size provides the ability to service the major and large independent E&P companies

Product breadth allows OMNI to be the provider of choice

Strong Brand Name and High Quality Asset Base

8

Geographic Footprint

Rock Springs

Vernal

Environmental Operations

Equipment Leasing Operations

Fort Worth Basin/Barnett Shale Region

Rocky Mountain Region

Transition Zone

Seismic Drilling Operations

Alice

Timpson

Teague

Navasota

Broussard / Youngsville

Belle Chasse

Carencro

Cameron

Fourchon

Intracoastal City

Venice

Houston

Jennings

Morgan City

Hattiesburg

Bowie

Headquarters: Carencro, LA

Fluid Services Operations

Giddings

Woodville

Bryan

Wooster

Fort

Worth

9

Business Strategy

Capitalize on increased size

Improve margins and liquidity

Expand the range of services

Maximize Synergies of existing business lines

Increase focus on organic growth

Dominant market presence

Developed customer base

Robust market conditions

Motivated and strategically

located personnel

Asset utilization

Offer bundled service solutions

Expand rental equipment

portfolio

Attractive domestic expansion

opportunities

Strategic acquisitions

Provide full-service dock in

Fourchon, LA

Increase Operating Capabilities

Improved Fiscal Management

Maintain Seismic Drilling

Dominance

Provide Superior Service

Capitalize on Select

Opportunities

10

OMNI Timeline

1997:

Initial Public

Offering

2006:

Acquired Preheat and

Rig Tools

2007:

Acquired Charles

Holston (CHI) and

certain assets of

Cypress Energy

1997 -

2002

2003 -

2004

2005 -

2006

2007-2008

2002:

Purchased

certain assets

of AirJac

2003:

Purchased

American

Helicopters,

Inc. (“AHI”)

2004:

Acquired

Trussco

2005: Sold Aviation

Transportation Segment

(including AHI)

2007:

Acquired certain

assets of Bailey

Operating Inc.

2008:

Acquired

certain assets

of B.E.G.

2009 Forward

•International Expansion

•Organic Growth

•Maximize Synergies

•Marcellus Shale Region

11

Commodity prices remain strong

Capital spending expected to escalate in 2008

First quarter land permit data is strong

Drilling activity expected to improve this summer

Reduced service company capital investment

supporting price stabilization

Market forces in line with demand

Gas market improving

Offshore market stable to improving

70% of our revenue is land drilling and production driven

30% of our revenue is supporting offshore drilling and

production

NOC’s

increasing reliance on service and rental

companies

Positive Market Outlook

12

The Future

Land Operations

Restructure to improve performance predictability

Flatten organization

Promote better asset utilization

Focus internally on organic initiatives with core client base

Enhance our loss control, safety and risk programs

Strengthen local management teams

Focus on price increases due to major spending category inflation

Organize our land-based business around prolific oil and gas plays

Barnett Shale

Rocky Mountains

East Texas

Fayetteville, Arkansas

Expand seismic drilling operations into the Rocky Mountains

Add two new drilling fluid production locations

13

The Future (continued)

Offshore Operations

Focus internally on organic growth initiatives

Blue chip customer base with very little multiple service line penetration

Strengthen local management teams

Increase controls, performance expectations and transparency

Expand technology initiatives

Drilling

and

production

environmental

services

to

become

best

in

class

Currently no market leader exists

14

Diversified Revenue Base

2007 Revenue

$172 million

2008E Revenue

$190 million

41%

27%

32%

Seismic Drilling

Land Service

Offshore Service

46%

18%

36%

2007

2008E

15

OMNI is led by a deep bench of oilfield services veterans averaging 31 years in the industry

Experienced and dedicated staff with the specialized knowledge capable of delivering the highest

level of customer service

100% non-union workforce

Seasoned Management & Experienced Workforce

25 years

VP and Chief Accounting Officer

46

Gregory B. Milton

35 years

Sr. VP and Chief Financial Officer

56

Ronald D. Mogel

31 years

Average:

43 years

Operations Manager –

Land Rental Services

60

Godfrey Brasseaux

23 years

VP of Offshore Services

42

Andy Dufrene

31 years

VP of Seismic Services

49

John Harris

21 years

Chief Operating Officer

43

Brian J. Recatto

58

Age

President and Chief Executive Officer

Position

36 years

James C. Eckert

Relevant Years of Experience

Name

16

Extensive Blue-Chip Customer Base

OMNI has maintained relationships with many of its Blue-Chip customers for over ten

years.

17

OMNI Energy Financial Highlights –

Revenue (Historical and Projected)

Revenue (in thousands)

$31,555

$24,592

$19,839

$39,064

$180,000 - $200,000

$98,998

$43,350

$172,479

$0

$50,000

$100,000

$150,000

$200,000

Actual 2001

Actual 2002

Actual 2003

Actual 2004

Actual 2005

Actual 2006

Actual 2007

Projected

2008

OMNI information excluding aviation division

18

OMNI Energy Financial Highlights –

Adjusted EBITDA (Historical and Projected)

OMNI information excluding aviation division

(1)

See page 22 for reconciliation and definition of Adjusted EBITDA

Adjusted EBITDA (in thousands)

(1)

$36,597

$6,251

$40,000 -

$45,000

$5,145

$4,228

$2,398

$7,339

$26,009

$0

$10,000

$20,000

$30,000

$40,000

$50,000

Actual 2001

Actual 2002

Actual 2003

Actual 2004

Actual 2005

Actual 2006

Actual 2007

Projected

2008

19

OMNI Energy Financial Highlights –

Adjusted EBITDA

(1)

as % of Revenue

(Historical and Projected)

20%

21%

22%

13%

17%

12%

17%

26%

0%

10%

20%

30%

40%

Actual 2001

Actual 2002

Actual 2003

Actual 2004

Actual 2005

Actual 2006

Actual 2007

Projected 2008

OMNI information excluding aviation division

(1)

See page 22 for reconciliation and definition of Adjusted EBITDA

20

OMNI Energy Financial Highlights –

Leverage Ratio

OMNI information excluding aviation division

(1)

See page 22 for reconciliation and definition of Adjusted EBITDA

Leverage Ratio (Net debt / Adjusted EBITDA

(1)

)

1.45

0.68

1.55

3.17

0

1

2

3

4

Actual 2005

Actual 2006

Actual 2007

Projected 2008

21

2008 Guidance

Organic growth only; guidance has assumed no additional acquisitions

Capital expenditures forecasted at maintenance levels only

$

0.63

$

0.50

Earnings per share

$

45,000

$

40,000

Adjusted EBITDA

(1)

$

200,000

$

180,000 

Revenue

High Range

Low Range

Projected

$ in thousands

(1)

See page 22 for reconciliation and definition of Adjusted EBITDA

22

2008 Guidance (Adjusted EBITDA Definition and Reconciliation)

OMNI

calculates

Adjusted

EBITDA

(adjusted

earnings

before

interest,

taxes,

depreciation

and

amortization)

as

net

income

excluding

income

taxes,

net

interest

expense,

depreciation

and

amortization,

and

adjusted

for

loss

on

debt

extinguishment

and

stock-based

compensation.

Adjusted

EBITDA

is

not

calculated

in

accordance

with

Generally

Accepted

Accounting

Principles

(GAAP),

but

is

a

non-GAAP

measure

that

is

derived

from

items

in

OMNI’s

GAAP

financials

and

is

used

as

a

measure

of

operational

performance.

Management

references

this

non-GAAP

financial

measure

frequently

in

its

decision-making

because

it

provides

supplemental

information

that

facilitates

internal

comparisons

to

historical

operating

performance

of

prior

periods

and

external

comparisons

to

competitors’

historical

operating

performance.

OMNI

has

also

aligned

the

disclosure

of

Adjusted

EBITDA

with

the

financial

covenants

in

its

material

credit

agreements

with

various

lenders,

which

include

ratios

requiring

a

determination

of

EBITDA,

as

defined.

Adjusted

EBITDA

is

a

material

component

of

the

financial

covenants

in

OMNI’s

credit

agreements

and

non-compliance

with

the

covenants

could

result

in

the

acceleration

of

indebtedness.

OMNI

believes

that

Adjusted

EBITDA

is

a

commonly

applied

measurement

of

financial

performance

by

investors.

OMNI

believes

Adjusted

EBITDA

is

useful

to

investors

because

it

gives

a

measure

of

the

operational

performance

without

taking

into

account

items

that

OMNI

does

not

believe

related

directly

to

operations

or

that

are

subject

to

variations

shat

are

not

caused

by

operational

performance.

This

non-GAAP

measure

is

not

intended

to

be

a

substitute

for

GAAP

measures,

and

investors

are

advised

to

review

this

non-GAAP

measure

in

conjunction

with

GAAP

information

provided

by

OMNI.

Adjusted

EBITDA

should

not

be

construed

as

a

substitute

for

income

from

operations,

net

income

or

cash

flows

from

operating

activities

(all

determined

in

accordance

with

GAAP)

for

the

purpose

of

analyzing

OMNI’s

operating

performance,

financial

position

and

cash

flows.

OMNI’s

computation

of

Adjusted

EBITDA

may

not

be

comparable

to

similarly

titled

measures

of

utilized

by

other

companies.

A

reconciliation

of

this

non-GAAP

measure

to

OMNI’s

net

income

follows:

$

45,000

$

40,000

$

36,597

Adjusted EBITDA

9,800

7,800

5,504

Income tax expense

1,000

1,000

2,487

Non-cash stock compensation

14,100

14,100

10,761

Depreciation and amortization

—

—

(360)

Other income

—

—

1,100

Loss on debt extinguishment

4,600

4,600

6,936

Interest expense

Plus (minus):

$

15,500

$

12,500 

$

10,169 

Net income

High End

Low End

Actual

Projected                    

2008                       

2007

$ in thousands