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HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation

Tesco Corporation · Mar 1, 2011 · 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 1
    Tesco Corporation Howard Weils 39th Annual Energy Conference March 2011 1
  2. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 3
    Strategic Direction 2005-2010 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 4
    Accelerated Strategic Direction 2011-2015 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 5
    TESCO Delivers We have delivered growth and earnings Millions USD REVENUE EBITDA* 600 535 120 114 500 462 386 100 85 379 79 400 356 80 300 57 60 42 200 40 100 20 0 0 2006 2007 2008 2009 2010 2006 2007 2008 2009…
  6. HOWARD WEILS 39TH ANNUAL 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 (December 31, 2010) 20 0 -20 Cash 61 -40 -31 -60 -61 Debt 0 -80 2006 2007 2008 2009 2010 400 362 376 Net…
  7. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 8
    Expanded International Focus 2009 2010 Russia 8 Russia EAME EAME 27 45 23 Asia Asia Pacific U.S. Pacific U.S. 31 131 44 159 Latin America Latin 68 America 68 Canada Canada 99 33 Millions USD Total 357 Total 379…
  9. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL 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 94 244 100 90 250 219 225 80 69 200 60 150 40 100 20 50 0 0 2006 2007 2008 2009 2010 2006 2007 2008…
  11. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 11
    Top Drives Revenue Breakdown 2009 2010 Rental Sales Rental Sales 84 91 109 86 AMSS AMSS 50 49 Millions USD Total 225 Total 244 12
  12. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 14
    Tescos CDS Sets the Standard 3,500 3,173 120 101 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 2010 2006 2007 2008…
  15. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 15
    Tubular Services Revenue Breakdown 2009 2010 Conventional Conventional 23 21 Proprietary Proprietary 95* 101 Millions USD Total 118 Total 122 * Includes approximately 8M of proprietary product sales. 16
  16. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 16
    Conventional Casing Running 17
  17. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 17
    TESCO Proprietary Casing Running 18
  18. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 18
    Tubular Service Metrics Approximately 2+ billion market 2010 Revenue = 122 million Less than 5% penetration of Proprietary Services 11,313 jobs run to date with CDS as of December 31, 2010 Proprietary CDS requires a Top Drive (any…
  19. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 20
    TESCO CASING DRILLING Remaining ready to grow Millions USD 30 27 25 20 15 15 15 13 13 10 5 0 2006* 2007 2008 2009 2010 Revenue 21 * Excludes discontinued contract CASING DRILLING rig revenues of 9M for 2006.
  21. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 21
    CASING DRILLING Technology CONVENTIONAL CASING DRILLING DRILLING PROCESS PROCESS 22
  22. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 22
    CASING DRILLING Plastering Effect 23
  23. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 23
    CASING DRILLING Accomplishments 24
  24. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 24
    CASING DRILLING Accomplishments Created a commercial product Drilled 1,152 well intervals to date Drilled 110 directional well intervals Drilled 25 horizontal or near horizontal intervals Drilled 66 offshore well intervals 25
  25. HOWARD WEILS 39TH ANNUAL 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. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 26
    2011 Objectives Improve profitability in all segments Accelerate CDS growth Commercialize 500 ton ESI top drive Commercialize Liner Drilling offering Continue to generate free cash from operations Complete key strategic…
  27. HOWARD WEILS 39TH ANNUAL ENERGY CONFERENCE – Tesco Corporation – slide 27
    Tesco Corporation Howard Weils 39th Annual Energy Conference March 2011 28

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