Second Quarter 2015 Overview August 5, 2015 IT'S ABOUT PERFORMANCE
Q2 2015 Highlights Revenue - 95 million Down 44% from Q2 14 lower activity levels Down 51% from Q1 15 lower activity and early term revenue Operating income net percentage(1) 46% Up from 28% in Q2 14 higher early termination and…
Q2 2015 Highlights Arrangement agreement for strategic business combination with CanElson Drilling Inc. Trinidad to acquire all issued and outstanding shares Activity levels decreased in Q2 2015 due to weak commodity prices Net…
Canadian Operations Q2 2015 Revenue - 12 million Down 68% from Q2 14 lower activity levels, partly offset by higher dayrates due to rig mix Down 80% from Q1 15 reduced customer demand, less operating days Operating income net…
Canadian Q2 2015 Review Canada Rate Per Operating Day vs Utilization - 7% Dayrates (1) (CDN) Operating Income Net Percentage 35,000 50% 30,000 Down from Q2 14 of 24% 25,000 40% 20,000 30% Down from Q1 15 of 46% 15,000 20%…
US and International Operations Q2 2015 Revenue - 73 million Down 34% from Q2 14 lower activity levels Down 20% from Q1 15 reduced customer demand Operating income net percentage(1) 52% Up from 32% in Q2 14 higher early termination…
US Q2 2015 Review US Rate Per Operating Day vs Utilization - 44% (1) Dayrates (US) Operating Income Net Percentage 30,000 60% Down from Q2 14 of 70% 25,000 20,000 50% 40% Down from Q1 15 of 51% 15,000 30% 10,000 20%…
Joint Venture Operations JV Rate Per Operating Day vs Q2 2015 Dayrates (US) 60,000 Operating Income Net Percentage 50% Utilization (1) 95% 50,000 40% 40,000 Dayrates US48,959 per day 30,000 30% 20% Operating income net…
Capital Spending Update Q2 15 capex of 44 million (includes JV capital) US new builds, upgrades, capital inventory - 42 million Trinidads portion of JV projects - 1.8 million YTD capex of 118 million 2015 capital guidance - 175…
Financial Position at Quarter-end Revolving Credit Facility Canadian revolver drawn 70 m, US revolver undrawn Cash on hand of 116 m Facility of C200 m and US200 m Senior Notes US450 m Debt to EBITDA at Q2 of 2.36 times, excluding JV…
Outlook 2015 Dayrates and activity levels still remain challenged Lower cost structure and improved efficiencies help Continuing to review international growth opportunities Over 40% of fleet currently under long-term, take-or- pay…
Benefits of CanElson Combination Greater scale and resources to capitalize on opportunities Larger, more diverse fleet with industry-leading activity and strong profitability Savings through increased scale and operating…
Second Quarter Financial Highlights Three months ended June 30, Six months ended June 30, 2015 2014 % Cha nge 2015 2014 % Cha nge Land Drilling Market (1) Operating days Ca na da 380 1,430 (73.4) 2,723 5,507 (50.6) Uni ted States a…
1000, 585 8 Avenue S.W. Calgary, AB, Canada T2P 1G1 T 403.265.6525 Email: investorstrinidaddrilling.com www.trinidaddrilling.com IT'S ABOUT PERFORMANCE
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