Unconventional drilling driving opportunities and rig building 8 contracted new builds announced in October 2011 Total of 47 contracted new builds since the beginning of 2010 New Super Triple 1200 introduction has been well received…
Oil targets continue to lead drilling activity Unconventional drilling techniques applied to oil has driven significant shift in core business drivers _________________________________________________________…
Horizontal rig count makes up 57% of total U.S. rig count today Horizontal drilling intensity is expected to continue to grow in application and potential __________________________________________________________…
Level of oil activity is fairly new Similar unconventional oil drilling trends in Canada 64% of drilling activity in Canada is now oil directed __________________________________________________________…
Canadian rig count is at seasonal 5 year high __________________________________________________________ __________________________________________________________ __________________________________________________________…
Oil targets leading both U.S. and Canada drilling activity Despite oil prices in 2011 averaging below the 2008 level, oil directed rig counts have more than doubled Abundance of new economic plays…
Together, the U.S. and Canada consume over 20 million barrels of oil per day, compared to approximately 13 million barrels per day supply for the two countries U.S. and Canada production of 13.4 million barrels of oil per day remains…
2011 average natural gas prices are down approximately 40% from the 2008 average The number of rigs drilling in key shale basins has increased by 43% Precision continues to be part of the process of reducing costs and risks for…
Listed on TSX under ticker PD and NYSE under PDS Incorporated in 1985 with subsidiary founded in 1951 Headquartered in Calgary, Alberta with regional bases in Houston, Weatherford, Grand Junction, Alice, Williamsport, Calgary, Red…
Uniquely positioned to support long-term drilling programs As drilling program size increases, reduction of risks has become more important Industry has demanded higher performance Precision has the assets, systems and scale to…
The greatest challenge facing the oilfield service industry today is securing a reliable, qualified, and dedicated workforce Precisions ability to recruit and retain excellent people provides a competitive advantage Increased from 20…
Systems developed through history of operating through seasonal and structural cycles Rostel Industries, Tech Center, Columbia Supply and Grey Wolf Supply All businesses manage operations with one software package Real time reporting…
Precisions knowledge and infrastructure positioned the company to create a truly successful rig design Precisions engineering team works with operations to optimize rig designs for drilling performance and mobility Flexible…
Precisions rig fleet has shallow, medium and deep drilling capabilities: Tier 1 Precision Super series, high performance, rapid mobility, highly automated, advanced drilling controls, high capacity mud pumps, horizontal capable Tier…
Majority of rig manufactured by Precision Industry leading mobility and versatility Broad well application from Barnett shale to heavy oil SAGD Drilling as deep as 21,000 feet unconventional horizontal wells in the Bakken…
First ST-1200 rig has been drilling in the Marcellus for past two months. Customer is pleased and has ordered 2 additional rigs [7] total have been ordered since the rig went on location Capital cost approximately 16.5 million…
Technically advanced rig fleet for complex drilling applications Market leader in advanced drilling applications Led to development of directional drilling initiative __________________________________________________________…
Uniquely positioned as leading horizontal driller across North America __________________________________________________________ __________________________________________________________…
Sector leading positioning in all key gas shale plays and oil plays Operating infrastructure is ideally located Growing Eagle Ford and Bakken presence __________________________________________________________…
Customers recognize value of Precision Super Series and Tier 2 rigs Precision has financial and operational capacity to continue growth New build rigs are expected to be deployed in key unconventional regions in the U.S. and Canada.…
Legacy of operating in cold weather is helping Precision gain market share in key U.S. operating basins Equipment is important, but know-how and capable crews are equally important Institutional knowledge about equipment maintenance,…
Entered directional organically in 2010 to learn Gained critical mass through High Performance acquisitions of Drake and Axis Drive further expansion 70 job capability by year end 2011, plan continued growth…
Develop concentrated footprints in regions where high performance services are valued Middle East is near-term focus Long term contracts, smooth utilization Leverage our systems and assets globally…
Completion and Production is a growth business driven by horizontal completion and oil activity 115 million 2011 capital expenditure plan with about 70% incurred in 2011 and the balance equally over 2012 Significant investments in…
Vertical integration is central to Precisions competitive success. Unique operating model developed over decades Reduces costs and lead times Provides for standardization Supports better customer service Distribution locations in…
Center for rig up, maintenance, repair and training operations in U.S. market Capacity to rig up one rig per month with opportunities to expand Train/develop Precision employees (new hire and experienced) Repair/certify BOPs, repair…
Increased drilling days and dayrate increase have driven base revenue Asset additions and upgrades have provided additional revenue and support __________________________________________________________…
EBITDA increasing since trough in 2009 __________________________________________________________ __________________________________________________________ __________________________________________________________…
Capital Expenditures 2011: 508 million expansion capital complete 18 rigs from 2011 program and 5 rigs from the 2010 program 228 million upgrade and long lead items estimated 20 upgrade rigs 144 million maintenance/infrastructure…
Precision has a strong portfolio of term contracts The number of rigs Precision rigs under term contracts has increased each quarter over the past seven quarters Provides cash flow stability and predictability…
All of Precisions debt is long-dated maturity Net debt to capitalization and total debt to capitalization remains modest 4th Quarter 2010 retired term debt Issued US650 million in unsecured notes due 2020 6 5/8% interest rate Put…
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