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Q1 2015 OVERVIEW – Trinidad Drilling Ltd.

Trinidad Drilling Ltd. · May 7, 2015 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 1
    First Quarter 2015 Overview May 7, 2015 IT'S ABOUT PERFORMANCE
  2. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 2
    Q1 2015 Highlights Revenue - 194 million Down 23% from Q1 14 lower activity levels Down 30% from Q4 14 reduced customer demand Operating income net percentage 39% Down from 41% in Q1 14 higher manufacturing revenue and lower…
  3. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 3
    Q1 2015 Highlights Activity levels decreased Q1 2015, with weak winter drilling in Canada and early termination of 10 US rigs Net earnings of 12 m, down from 26 m in Q1 14 Weakening commodity prices drove lower activity levels…
  4. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 4
    Canadian Operations Q1 2015 Revenue - 60 million Down 42% from Q1 14 dayrates stable, but lower activity levels Down 31% from Q4 14 reduced customer demand Operating margin 42% Down from 48% at Q1 14 lower activity, slowly lowering…
  5. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 5
    Canadian Q1 2015 Review Dayrates Canada Rate Per Operating Day vs Operating Margin Utilization - 46% (1) (CDN) 30,000 50% 25,000 40% Above industry of 35% 20,000 30% 15,000 Down from Q1 14 of 68% 10,000 20% 5,000 10% Down…
  6. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 6
    US and International Operations Q1 2015 Revenue - 91 million Down 20% from Q1 14 lower activity levels Down 29% from Q4 14 reduced customer demand Operating margin 48% Up from 38% in Q1 14 higher early termination and standby…
  7. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 7
    US Q1 2015 Review Utilization - 51% Dayrates (1) (US) US Rate Per Operating Day vs Operating Margin 30,000 50% 25,000 Down from Q1 14 of 66% 20,000 40% 30% 15,000 Down from Q4 14 of 97% 10,000 20% Dayrates - US27,778…
  8. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 8
    Joint Venture Operations Q1 2015 Dayrates (US) JV Rate Per Operating Day vs Operating Margin Utilization 94% 60,000 50% 50,000 40% Dayrates US50,825 per day 40,000 30,000 30% Operating Margin 41% 20% 20,000 10,000…
  9. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 9
    Financial Review Q1 15 capex of 74 million (includes JV capital) US new builds, completion of LGN rig, upgrades, maintenance - 50 million Trinidads portion of JV projects - 24 million 2015 capital guidance - 175 million (includes JV…
  10. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 10
    Financial Position at Quarter-end Credit Revolver Facility of C200 m and US200 m Canadian revolver drawn 65 m, US revolver undrawn Cash on hand of 69 m Senior Notes US450 m Debt to EBITDA at 2.56 times, excluding JV 2.48 times…
  11. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 11
    Outlook 2015 Expect dayrates and activity levels to remain challenged until commodity prices improve Prudent capital program with corporate cost reductions Continuing to review international growth opportunities Over 45% of fleet…
  12. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 12
    First Quarter Financial Highlights Three months ended March 31, ( tho usands except share and per share data) 2015 2014 % Cha nge Revenue 194,396 251,505 (22.7) Revenue, net of thi rd pa rty cos ts 186,079 231,018 (19.5) (1) Opera…
  13. Q1 2015 OVERVIEW – Trinidad Drilling Ltd. – slide 13
    1000, 585 8 Avenue S.W. Calgary, AB, Canada T2P 1G1 T 403.265.6525 Email: investorstrinidaddrilling.com www.trinidaddrilling.com IT'S ABOUT PERFORMANCE

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