ITS ABOUT PERFORMANCE Fourth Quarter 2013 Overview March 5th, 2013
Q4 2013 Highlights Revenue totaled 225m Up 8% from Q3 13 due to Canadian seasonality Up 7% from Q4 12 due to higher US dayrates Includes US20m in early termination revenue Operating margin(1) at 47% Up from 39% in Q3 13 and 40% in…
Solid Fourth Quarter Results Dayrates stable, demand solid for high-spec rigs Utilization reflects slightly softer demand in Canada, and eight US rigs on standby or early termination Net earnings of 28.7m, up from (12.2m) in Q4 12…
Canadian Operations Revenue of 74m Up 2% from Q3 13 due to higher dayrates, slightly offset by lower activity Down 5% from Q4 12 due to lower dayrates Operating margin of 45% Up from 41% at Q3 13 due to seasonality Up from 39% at…
Canadian Review TDG Q4 13 utilization of Utilization 30,000 Canada Rate Per Operating Day vs Operating Margin 50% 48%(1), five percentage 25,000 40% points above industry 20,000 15,000 30% average 10,000 20% 10% 5,000…
US and International Operations Revenue of 136m Up 8% from Q3 13 and 15% from Q4 12 due to early termination and standby revenue Operating margin of 48% Up from 37% in Q3 13 and 40% in Q4 12 due to standby and early termination…
US Review US industry active rig Dayrates (US) 30,000 US Rate Per Operating Day vs Operating Margin 50% count stable 25,000 20,000 40% Customers demanding 30% 15,000 20% 10,000 high performance 5,000 10% 0 0%…
Other Operations Barge rigs dayrates remain strong, activity levels expected to be stable for full year 2014 Coring sold coring and pre-set rigs during Q2 13 Mexico Pursuing opportunities for three idle rigs currently in Mexico, may…
Trinidad Drilling Intl JV Update Joint venture will move four rigs to Saudi by mid- 2014, three existing US rigs and one new build Also adding four new builds in Mexico in late 2014/early 2015 Future growth opportunities expected…
Rig Location Summary Canada Play Count Montney 14 Frobisher 5 Duvernay 5 Cardium 5 Deep Basin 3 Oil Sands 3 Viking 2 AB Bakken 2 Montney Liard Basin 1 Liard Basin Oil Sands Bakken 0 Other 22 Duvernay Viking Total 62…
Financial Review Total 2014 capital budget of 315 million New builds and JV related(1) - 135 million LNG new build JV related new builds 5 rigs JV related rig upgrades 3 rigs Upgrades to 30 rigs - 140 million Improve marketability…
Debt Reduction Strategy Significant progress made on debt reduction strategy height of 3.6 times in 2008 Total Debt to EBITDA 4.0 2.42 times at year-end 2011 3.5 3.0 2.5 1.91 times at year-end 2012 2.0 1.5 1.0 1.80 times at…
Outlook Q1 2014 and beyond Rig performance and efficiency becoming increasingly important Demand remains strong for high-spec equipment, customers increasingly requesting upgraded rigs Canadian industry conditions firm, LNG demand…
Outlook - continued Trinidad will outperform the industry due to: High performing fleet (80% with advanced drilling controls and high mobility) Significant contract base (45% under long-term, take- or-pay contract, average term…
Summary of Results FINANCIAL HIGHLIGHTS For the years ended December 31, Three months ended December 31, For the yea rs ended December 31, ( tho usands except share and per share data) 2013 2012 % Cha nge 2013 2012 % Cha nge Revenue…
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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