ITS ABOUT PERFORMANCE Fourth Quarter 2012 Overview March 6th, 2013
Q4 2012 Highlights Revenue lowered from Q3 12 and Q4 11 as higher dayrates were offset by lower operating days Adjusted EBITDA(1) 63m, down from Q3 12 and Q4 11 largely due to lower operating income Operating income net %(1) in line…
Solid Fourth Quarter Results Dayrates increased, demand solid for high-spec rigs Lower operating days reflect softening market conditions Solid contract base provides more protected EBITDA and margins during industry cycles Adjusted…
Canadian Operations Revenue of 78m, flat from Q3 12 but down 13% from Q4 11 caused by: Higher dayrates due to change in active rig mix, new build additions and crew wage increase Offset by lower operating days as a result of…
Canadian Review TDG Q4 utilization of 51%(1), above industry average by 15 percentage points Activity levels were lower than usual in Q4 Less demand for lower- spec rigs, early shut down by customers at Christmas (1) Based on…
US and International Operations Revenue of 118m, down 5% from both Q3 12 and Q4 11 due to: Dayrates in line with Q3 12; up 11% from Q4 11 due to improved conditions year over year and standby revenue Operating days down 5% from Q3…
US Review US industry active rig count trending lower Slowing demand for lower-spec rigs Competition increasing, customers demanding higher-quality equipment US Active Rig Count (Change from 10/3/08) 60% Customer diversification…
Other Operations Coring Q4 includes preparation and training for winter operations. Sold five coring rigs in Q4 12 Mexico rigs continue to generate stable revenue and margins, growing demand for additional equipment Barge rigs…
Rig Location Summary Canada Play Count Montney 15 Oil Sands 8 Cardium 6 Viking 6 Frobisher 6 Duvernay 5 Kakwa 3 Kaybob 2 AB Bakken 2 Seal LK 1 Seal Bakken 0 Montney Oil Sands Other 7 Total 61 Duvernay Viking Frobisher…
Financial Review Debt levels declined by approx. 71m since YE 2011 Q4 Total Debt/EBITDA at 1.91 times 2012 capital expenditure approx. 163m 2013 capital budget of 70-80m 2012 carry over (two rigs) Upgrade existing equipment (moving…
Debt Reduction Strategy Significant progress made on debt reduction strategy height of 3.6 times in 2008 2.42 times at year-end 2011 1.96 times in Q3 2012 1.91 times in Q4 2012 Long-term goal remains +/- 1.5 times Debt reduction…
Outlook Q1 2013 and beyond Rig performance and efficiency becoming increasingly important Demand remains for high-spec equipment but more difficult to find work for older, mechanical style rigs Increasing competition for work in high…
Outlook - continued Anticipate 2013 to be steady; expect overall results to be comparable to 2012, but will depend on commodity prices going forward Trinidad will outperform the industry due to: High performing fleet (75% with…
Summary of Results FINANCIAL HIGHLIGHTS Three months ended December 31, For the years ended December 31, ( tho usands except share and per share data) 2012 2011 % Cha nge 2012 2011 % Cha nge Revenue 209,557 231,106 (9.3) 859,327…
Forward-Looking Statements The document contains certain forward-looking statements relating to Trinidad's plans, strategies, objectives, expectations and intentions. The use of any of the words expect, anticipate, continue, estimate,…
Non-GAAP Measures This document contains references to certain financial measures and associated per share data that do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other…
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