Oil targets leading both U.S. and Canada drilling activity __________________________________________________________ __________________________________________________________…
Shale drilling for both oil and natural gas has dramatically increased the demand for Tier I rigs Recent upturn led by oil drilling __________________________________________________________…
Oil prices at 60+ lead to increased unconventional oil drilling activity Unconventional techniques being applied to conventional reservoirs __________________________________________________________…
Summer 2009 recovery did not occur Winter 2010 was strong, driven by new oil opportunities Winter 2011 stronger than winter 2010; drilling season extended because of cold weather Strong demand projected for rigs for second half of…
Physical storage capacity is increasing Gas storage reached all time high in November 2010 Storage level ranges can change dramatically in short time frames LNG imports are at historically low levels Canadian gas imports to US…
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…
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 in the Bakken…
Most active North American driller during 4th and 1st quarters __________________________________________________________ __________________________________________________________…
Unique operating model Reduces costs and lead times Provides for standardization __________________________________________________________ __________________________________________________________…
Sector leading positioning in all key gas shale plays and oil plays Operating infrastructure is ideally located Growing Eagle Ford and Bakken presence __________________________________________________________…
25% of industry rig fleet in Canada 6% of industry rig fleet in U.S. Operating experience in Canada and U.S. dates back five decades __________________________________________________________…
Unique operating model Vertical integration that adds to profit margins and customer services: Diverse service offering Quality enhancement through standardization and dependable equipment Hassle free customer experience Single…
Organic new-build growth in North American drilling 30 Newbuilds announced Strong balance sheet and cash flow generation Opportunities in Directional Drilling Two acquisitions closed International drilling growth Bidding…
Ideal for shale plays and extended horizontal well programs Sector leading mobility and drilling efficiency High performance rigs command high margins throughout the oilfield demand cycle Applicable for Marcellus, Bakken, Eagle…
Opened US Tech Center in July 2011 Company-wide build program capacity increases to 36 rigs per year with new Tech Center _________________________________________________________…
Technically advanced rig fleet for complex drilling applications Market leader in advanced drilling applications Led to development of directional drilling initiative __________________________________________________________…
Technically advanced rig fleet for complex drilling applications Market leader in advanced drilling applications Led to development of directional drilling initiative __________________________________________________________…
Enhanced role for Precision through the rig crew approach Cost savings to customer through: Reduced head count on well location Reduced logistical costs truck / accommodations Low capital investment Acquired Drake Companies…
Precision is pursuing additional international activity Middle East, North Africa, South America Diverse rig fleet in North America to deploy Target markets that reward high performance, high value services…
Precision has a strong portfolio of term contracts About half of future contracted work in Canada; half in the United States Point in time measurement, amounts will be moving higher…
1st Qtr 2011 Refinancing: Paid off senior unsecured Canadian notes 175 million 10% Issued C200 million 6.5% unsecured notes 3rd Qtr 2011 Debt Issuance: US400 million 6.5% Current debt outstanding : C40 million undrawn operating…
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