ITS ABOUT PERFORMANCE Second Quarter 2014 Overview August 7th, 2014
Q2 2014 Highlights Revenue totaled 169m Down 33% from Q1 14 due to break up in Canada Up 2% from Q2 13 due to higher manufacturing revenue Operating margin(1) at 28% Down from 41% in Q1 14 due to seasonality Down from 36% in Q2 13…
Second Quarter Results Utilization reflects stronger demand in the US, growing demand in Canada as break up ends. Net earnings (loss) of (24.8m), down from 0.3m in Q2 13 due to: Lower operating income Higher G&A Impairment on…
Canadian Operations Revenue of 38m Down 64% from Q1 14 due to seasonal slow down during break up Up 3% from Q2 13 due to improved dayrates Operating margin of 25% Down from 48% at Q1 14 due break up Up from 23% in Q2 13 due to…
Canadian Review Canada Rate Per Operating Day vs Operating Margin TDG Q2 14 utilization of Utilization 30,000 50% 24%(1) 25,000 20,000 40% 30% Q2 14 activity flat with 15,000 10,000 20% the previous years 5,000 10% 0…
US and International Operations Revenue of 110m Down 4% from Q1 14 due to lower dayrates Down 7% from Q2 13 due to lower dayrates, lower barge rig activity levels and three rigs idle in Mexico Operating margin of 32% Down from 38%…
US Review US industry active rig Dayrates (US) 30,000 US Rate Per Operating Day vs Operating Margin 50% count increasing 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, lower activity levels in Q2 14 due to drilling programs being delayed to later periods Coring sold coring and pre-set rigs during Q2 13 Mexico three moved to Canada, expected to…
Trinidad Drilling Intl JV Update Two rigs began drilling operations in Q2-14, third expected to begin drilling in 2H 2014 Saudi new build rig delivered in Q2-14, expected to begin operation in 2H 2014 Constructing four new builds for…
Rig Location Summary Canada Play Count Montney 13 Duvernay 6 Frobisher 5 Cardium 4 Lloyd Heavy Oil 3 AB Bakken 3 Viking 1 Oil Sands 1 Montney Liard Basin 1 Liard Basin Oil Sands Deep Basin 1 Other 22 Duvernay Viking Total…
Financial Review Total 2014 capital budget of 315 million New builds and JV related(1) - 135 million Upgrades to 30 rigs - 140 million Maintenance and infrastructure capital - 40 million Q2 14 capex of 118 million (before proceeds)…
Debt Reduction Strategy Significant progress made on debt reduction strategy 1.93 times at Q2 2014 0.88 times at Q2 2014 (incl.264m cash on hand) Long-term goal remains +/- 1.5 times Debt reduction achieved through combination of…
Outlook Q3 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, demand…
Summary of Results FINANCIAL HIGHLIGHTS Three months ended June 30, Six months ended June 30, ( tho usands except share and per share data) 2014 2013 % Cha nge 2014 2013 % Cha nge Revenue 168,945 165,447 2.1 420,450 412,633 1.9…
www.trinidaddrilling.com 2500, 700 9 Avenue S.W. Calgary, Alberta, Canada T2P 3V4 T 403.265.6525 F 403.265.4168 E infotrinidaddrilling.com
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