ITS ABOUT PERFORMANCE First Quarter 2013 Overview May 8th, 2013
Q1 2013 Highlights Revenue totaled 247m Up 18% from Q4 12 due to winter drilling season Down 5% from Q1 12 due to lower activity, partly offset by higher dayrates Adjusted EBITDA(1) 85m Up 34% from Q4 12 due to winter drilling…
Solid First Quarter Results Dayrates increased, demand solid for high-spec rigs Lower utilization reflects softer market conditions Solid contract base provides more protected EBITDA and margins during industry cycles Net earnings…
Canadian Operations Revenue of 115m, Up 49% from Q4 12 due to winter drilling season In line with Q1 12, increased dayrates offset by weaker coring revenue Operating margin strong at 48% due to new high- spec rigs and lower R&M…
Canadian Review Canada Rate Per Operating Day vs Operating Margin TDG Q1 utilization of Utilization 30,000 50% 73%(1), above industry 25,000 20,000 40% average by 15 15,000 30% 20% 10,000 percentage points 5,000 10%…
US and International Operations Revenue of 112m Down 5% from Q4 12 due to lower activity level Down 10% from Q1 12 due to lower utilization, partly offset by higher dayrates Operating margin of 38% Down from 40% in Q4 12 due to…
US Review US industry active rig Dayrates (US) 30,000 US Rate Per Operating Day vs Operating Margin 50% count stabilizing 25,000 20,000 40% Lower demand for less 30% 15,000 20% 10,000 modern rigs 5,000 10% 0 0%…
Other Operations Coring lower Q1 13 revenue than Q1 12 Uncertain commodity prices led to lower activity levels Mexico stable revenue and margins, growing demand for additional equipment Barge rigs dayrates remain strong, activity…
Rig Location Summary Canada Play Count Montney 12 Frobisher 5 Duvernay 5 Cardium 4 Kaybob 4 Viking 3 Kakwa 3 AB Bakken 2 Oil Sands 1 Seal LK 0 Seal Bakken 0 Montney Oil Sands Other 22 Total 61 Duvernay Viking…
Financial Review Q1 Total Debt/EBITDA at 1.92 times Debt repayment of 18m offset by FX changes 2013 capital budget of 70-80m 2012 carry over (two rigs) Upgrade existing equipment (moving systems, automation, increased pumping…
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 Q2 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 Anticipate steady 2013; expect overall results to be comparable to 2012, commodity prices dependent Trinidad will outperform the industry due to: High performing fleet (75% with advanced drilling controls and high…
Summary of Results FINANCIAL HIGHLIGHTS Three months ended March 31, Q1 Q1 Q4 ( tho usands except share and per share data) 2013 2012 % Cha nge 2012 % Cha nge Revenue 247,186 260,394 (5.1) 209,557 18.0 Opera ting i ncome 98,359…
Forward-Looking Statements This 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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