ITS ABOUT PERFORMANCE Third Quarter 2013 Overview November 7th, 2013
Q3 2013 Highlights Revenue totaled 209m Up 26% from Q2 13 due to Canadian seasonality Down 3% from Q3 12 due to lower activity Operating margin(1) at 39% Up from 36% at Q2 13, delayed R+M costs incurred in Q2 Down from 40% in Q3 12…
Solid Third Quarter Results Dayrates stable, demand solid for high-spec rigs Utilization reflects softer demand in Canada, slight improvement in US and international from Q2 13 Net earnings of 9.2m, down from 20.0m in Q3 12 due to…
Canadian Operations Revenue of 72m Up 95% from Q2 13 due to seasonality Down 7% from Q3 12 due to fewer operating days Operating margin of 41% Up from 22% at Q2 13 due to seasonality Down from 44% at Q3 12 due to lower revenue and…
Canadian Review Canada Rate Per Operating Day vs Operating Margin TDG Q3 13 utilization of Utilization 30,000 50% 50%(1), above industry 25,000 20,000 40% average by 13 15,000 30% 20% 10,000 percentage points 5,000…
US and International Operations Revenue of 126m Up 5% from Q2 13 due to slightly higher activity and dayrates Up 1% from Q3 12 due to higher dayrates, partially offset by lower operating days Operating margin of 37% Down from 40%…
US Review US industry active rig Dayrates (US) 30,000 US Rate Per Operating Day vs Operating Margin 50% count stabilized 25,000 20,000 40% Lower demand for less 30% 15,000 20% 10,000 modern rigs 5,000 10% 0 0%…
Other Operations Barge rigs dayrates remain strong, activity levels stable Coring sold coring and pre-set rigs during Q2 13 Mexico contracts not extended on rigs but future demand anticipated for early 2014 HAL joint venture will…
Rig Location Summary Canada Play Count Montney 13 Frobisher 5 Duvernay 5 Deep Basin 3 Cardium 3 AB Bakken 2 Viking 2 Oil Sands 1 Montney Liard Basin 1 Liard Basin Oil Sands Bakken 0 Other 30 Duvernay Viking Total 62…
Financial Review Q3 Total Debt/EBITDA at 1.92 times 4m drawn on Canadian revolver, US nil 2013 capital budget of approx. 130m Announced new build for Liard Basin New build and rig upgrades for joint venture 2012 carry over (two…
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 1.92 times in…
Outlook Q4 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 Competition strong for work in high…
Outlook - continued Trinidad will outperform the industry due to: High performing fleet (75% with advanced drilling controls and high mobility) Significant contract base (more than 45% under long- term, take-or-pay contract, average…
Summary of Results FINANCIAL HIGHLIGHTS Three months ended September 30, Ni ne months ended September 30, ( tho usands except share and per share data) 2013 2012 % Cha nge 2013 2012 % Cha nge Revenue 208,692 215,103 (3.0) 621,325…
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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