ITS ABOUT PERFORMANCE Second Quarter 2013 Overview August 8th, 2013
Q2 2013 Highlights Revenue totaled 165m Down 33% from Q1 13 due to Canadian seasonality Down 5% from Q2 12 due to lower US and international activity, partly offset by higher dayrates Adjusted EBITDA(1) 40m Down 53% from Q1 13 due…
Solid Second Quarter Results Dayrates stable, demand solid for high-spec rigs Utilization reflects seasonality in Canada, slight improvement in US and international from Q1 13 Solid contract base provides more protected EBITDA and…
Canadian Operations Revenue of 37m Down 68% from Q1 13 due to spring break up Up 9% from Q2 12 due to five additional rigs in fleet Operating margin of 22%, due to delayed R&M costs from Q1 13 and seasonality Down from 48% at Q1 13…
Canadian Review Canada Rate Per Operating Day vs Operating Margin TDG Q2 13 utilization of Utilization 30,000 50% 24%(1), above industry 25,000 20,000 40% average by six 15,000 30% 20% 10,000 percentage points 5,000…
US and International Operations Revenue of 119m Up 6% from Q1 13 due to slightly higher activity and dayrates Down 10% from Q2 12 due to lower utilization Operating margin of 40% Up from 38% in Q1 13 due to higher revenue…
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 sold coring and pre-set rigs during Q2 13 Mexico stable revenue and margins, contracts not extended on rigs but future demand anticipated for late 2013, early 2014 Barge rigs dayrates remain strong, activity…
Rig Location Summary Canada Play Count Montney 21 Frobisher 5 Duvernay 5 Viking 2 AB Bakken 2 Cardium 2 Oil Sands 1 Liard Basin 1 Montney Bakken 0 Liard Basin Oil Sands Other 23 Total 62 Duvernay Viking Frobisher US &…
Financial Review Q2 Total Debt/EBITDA at 1.89 times Revolver balances completely repaid at June 30th, 2013 2013 capital budget of 140m Announced new build for Liard Basin 2012 carry over (two Duvernay rigs) Upgrade existing…
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 1.89 times in…
Outlook Q3 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 June 30, Si x months ended June 30, ( tho usands except share and per share data) 2013 2012 % Cha nge 2013 2012 % Cha nge Revenue 165,447 174,273 (5.1) 412,633 434,667 (5.1)…
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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