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CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation

Tesco Corporation · Dec 10, 2010 · 27 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. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 1
    Tesco Corporation Capital One Southcoast 2010 Energy Conference December 2010 1
  2. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 2
    TESCO at a Glance Global leader in design and delivery of technology-based solutions for the drilling industry Three segments: Top Drives Tubular Services CASING DRILLING Seven acquisitions from 2005 to 2007 expand Tubular Services…
  3. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 3
    Strategic Direction 2005-2009 Become the No. 2 Top Drive Company Become a top five player in Tubular Services Commercialize CASING DRILLING Aggressively grow international business. All focused on the commercialization of…
  4. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 4
    Accelerated Strategic Direction 2010-2015 Develop best-in-class service and product quality Become the automation company of choice, starting with top drives Become the largest Tubular Services Company in the industry Accelerate…
  5. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 5
    TESCO Delivers We have delivered growth and earnings Millions USD REVENUE EBITDA* 600 535 120 114 500 462 100 85 386 79 400 356 350 80 300 60 53 42 200 40 100 20 0 0 2006 2007 2008 2009 TTM 2006 2007 2008 2009 TTM…
  6. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 6
    TESCO Delivers We are financially sound Net Debt (Cash) (Mil ) Millions USD 80 58 60 Strong Balance Sheet 40 30 29 (September 30, 2010) 20 0 Cash 42 -20 -40 -31 -42 Debt 0 -60 2006 2007 2008 2009 09/10 Net Cash 42 400 362…
  7. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 7
    Business Segments TOP DRIVES TUBULAR SERVICES Rental Proprietary Casing Running Conventional Casing Running Sales Completions Aftermarket Sales and Service CASING DRILLING Revenue Segment Operating Income CASING CASING DRILLING…
  8. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 8
    Expanded International Focus 9M 2009 9M 2010 Russia 5 Russia EAME EAME 17 35 19 Asia Asia Pacific Pacific U.S. 28 U.S. 33 124 126 Latin Latin America America 50 48 Canada Canada 26 Millions USD 25 Total 271 Total…
  9. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 9
    Top Drives - Global Invented portable Top Drive Created Top Drive rental market Will rent or sell Top Drives Hydraulic Electric Growing Aftermarket Sales and Service business Other Other Canrig NOV TESCO* TESCO Units…
  10. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 10
    TESCO Top Drives A solid foundation for growth 160 400 137 341 140 350 Revenue (Mil ) 122 289 120 300 Units Sold 94 100 90 250 219 225 221 80 200 62 60 150 40 100 20 50 0 0 2006 2007 2008 2009 TTM 2006 2007 2008…
  11. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 11
    Top Drives Revenue Breakdown 9M 2009 9M 2010 Sales Rental Sales Rental 55 62 71 77 AMSS AMSS 38 Millions USD 35 Total 171 Total 167 12
  12. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 12
    Top Drive Market Offshore Rigs Land Rigs Offshore Rigs with Top Drives Land Rigs with 95% Land Rigs Top Drives without 60% Top Drives 40% Offshore Rigs without Top Drives 5% Total Rigs: 700 Total Rigs: 5,000* Further,…
  13. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 13
    Tubular Services Tubular Services Conventional Casing Running, tubing installation and completions services Proprietary Casing Drive System (CDS) technology greatly increases efficiency and safety Proprietary technology associated…
  14. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 14
    Tescos CDS Sets the Standard 118 3,500 120 3,117 Proprietary Jobs 95 Revenue (Mil ) 3,000 100 87 2,500 2,254 1,971 80 66 2,000 1,406 60 1,500 1,134 39 40 1,000 500 20 0 0 2006 2007 2008 2009 TTM 2006 2007 2008…
  15. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 15
    Tubular Services Revenue Breakdown 2009 TTM September 2010 Conventional Conventional 23 20 Proprietary Proprietary 95* 98 Millions USD Total 118 Total 118 * Includes approximately 8M of proprietary product sales. 16
  16. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 16
    Conventional Casing Running 17
  17. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 17
    TESCO Proprietary Casing Running 18
  18. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 18
    Tubular Service Metrics Approximately 2+ billion market TTM Proprietary Revenue = 118 million Less than 5% penetration of Proprietary Services 10,490 jobs run to date with CDS as of September 30, 2010 Proprietary CDS requires a Top…
  19. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 19
    CASING DRILLING CASING DRILLING Proprietary technology allows wells to be simultaneously drilled and cased Retrievable (exclusive to TESCO) - Interval or complete well Non-Retrievable (TESCO, et al) - Interval with drillable shoe…
  20. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 20
    TESCO CASING DRILLING Remaining ready to grow Millions USD 30 27 25 20 15 15 15 13 11 10 5 0 2006* 2007 2008 2009 TTM Revenue 21 * Excludes discontinued contract CASING DRILLING rig revenues of 9M for 2006.
  21. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 21
    CASING DRILLING Technology CONVENTIONAL CASING DRILLING DRILLING PROCESS PROCESS 22
  22. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 22
    CASING DRILLING Plastering Effect 23
  23. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 23
    CASING DRILLING Accomplishments 24
  24. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 24
    CASING DRILLING Accomplishments Created a commercial product Drilled 1,106 well intervals to date Drilled 104 directional well intervals Drilled 23 horizontal or near horizontal intervals Drilled 62 offshore well intervals 25
  25. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 25
    CASING DRILLING Market TESCO believes this potential market is measured in billions Todays market is approximately 50 million On an ongoing onshore project: 1.5 to 2.5 million / rig-year On an ongoing offshore rotary steerable…
  26. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 26
    2010 Objectives Continue to generate free cash from operations Accelerate CDS growth Create CASING DRILLING critical mass Introduce Top Drive/Rig Automation concept Move MCLRS into international arena Complete key strategic…
  27. CAPITAL ONE SOUTHCOAST 2010 ENERGY CONFERENCE – Tesco Corporation – slide 27
    Tesco Corporation Capital One Southcoast 2010 Energy Conference December 2010 28

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