Trinidad Drilling & Trinidad Contact: Brent Conway CanElson Contact: W. Randy Hawkings CanElson Drilling President 403.265.6525 President & CEO 403.266.3922 June 2015 bconwaytrinidaddrilling.com…
Leading Drilling Contractor Positioned for Growth Combination of Trinidad and CanElson provides: Increased size and scale to better capitalize on future growth opportunities Broader, highly marketable rig fleet to better meet customer…
Compelling Transaction for CanElson Shareholders Premium of 23.5% to the 20 day average price ending on June 10, 2015 Increased annual dividend from 0.12 to 0.20 per share(1) Ability to participate in Trinidads significant growth…
Proposed Transaction Summary Consideration 1.0631 shares of Trinidad or 4.90 per CanElson share in cash to a maximum of 50 million in cash Board / Management Three board representatives of CanElson will join the Trinidad board of…
Improving Scale to Accelerate Growth Drilling Rig Summary - Canada Trinidad will be the second most Drilling Contractor Total Rigs(1) Active Rigs(3) active and third largest drilling Precision Drilling Trinidad & CanElson…
Pro Forma Operations Liard CANADA Montney Duvernay Oil sands Cardium Lloyd Heavy Oil AB Bakken Bakken Niobrara MIDDLE EAST Mississippi Lime US Barnett Woodford Canada US Int'l Total Permian Haynesville Trinidad Rigs…
Rig Fleet Summary Drilling Rig Summary Horse Power Hookload Rigs with Canada U.S.A. Int'l Total Low High Low High Top Drive Trinidad HP HP (daN) (daN) < 3,000m 10 3 0 13 325 600 80,000 125,000 9 3,000m - 4,000m 34 1 0 35 460 1,000…
Right Rigs for Right Markets Tele-doubles with deep capacity remain most active rigs in Canada 88% of combined Canadian fleet is 3,000 m or deeper, the deepest fleet in Canada Combined Canadian Fleet by Depth Canadian Industry 2014…
Highly Marketable Fleets Combined Canadian fleet is made up of deep rigs with high horsepower, high hook loads, top drives and other key features Each companys fleet is in demand and outperforms industry utilization each year…
US Fleet Increases Market Share Combination of Trinidad and CanElsons US operations: Increases market share Improves efficiency with combined operations Adds new customers and expands customer base CanElsons strong footage drilling…
Expanded Customer Base New customers added in both Canada and the US Increased market share with some existing customers Customer base made up of larger E&P companies Take or pay contracts cover 35 - 40% of combined fleet, average…
Material Synergies to be Realized Estimated synergies of 10 million (annualized) Overlap in operational areas lowers yard and facilities costs Larger fleet allows improved efficiencies with inventory management, safety processes,…
Shareholders Benefits from Combined Company Size and scale and improved market positioning Highly marketable fleet for increased market presence Ability to capitalize on, or accelerate growth Strong balance sheet and liquidity…
Trinidad Drilling & Trinidad Contact: Brent Conway CanElson Contact: W. Randy Hawkings CanElson Drilling President 403.265.6525 President & CEO 403.266.3922 June 2015 bconwaytrinidaddrilling.com…
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