Peters & Co. 2016 Energy Conference September 14, 2016 IT'S ABOUT PERFORMANCE IT'S ABOUT PERFORMANCE 1
Why Invest in Trinidad The right rigs for the rebound Canada Heavy-duty double United States 1,500 HP AC triple Flexible cost structure, lowering debt levels Well-located operations for rig reactivation and future growth…
Update from the Field Customer enquiry level increasing significantly Activity levels increasing Dayrates remain low Contract terms lengthening to 6 months or longer IT'S ABOUT PERFORMANCE 4
Diversified Operations Operations through North America, Middle East and Mexico Canada 72 rigs US Saudi* Diversification provides Mexico* 66 rigs 4 rigs UAE opportunities and 1 rig 6 rigs stability Ability to move…
Trinidad is Active in the Key Plays Main areas of activity Permian Liard Montney Eagle Ford Duvernay Deep Basin Montney Bakken Deep Basin Duvernay Active Fleet Permian 25% 25% Deep Basin Permian Montney Eagle Ford 8% Eagle…
Right Rigs for Canada Canadian customers want heavy-duty doubles Depth 6,500 metres, high hook-load, and large pumps Triples in select locations TDGs Active Canadian Fleet TDGs Total Canadian Fleet 2% 8% 8% 20% 18% Single Other…
Right Rigs for the United States United States customers want 1,500 AC triples Walking systems and 7,500 PSI circulating systems also in demand TDGs Active US Fleet TDGs Total US Fleet 7% 5% 18% 24% Other Double Triple 1500 AC…
Why Customers Chose Trinidad Strong history of operational excellence The right assets for the job Track record of crewing rigs with well trained, skilled people Trinidad has a broad customer base with diverse needs IT'S ABOUT…
Consistent Industry Outperformance Trinidads rigs are more active Canadian Utilization1 Rates US Average Active Rig Count TDG US US 70% 65 Trinidads US 2,800 Trinidads Canadian Utilization 60 Average Active Rig Count 60% 55 2,400…
International Update HAL JV contributing solid Adjusted EBITDA Saudi: three rigs working Mexico: four rigs receiving standby revenue One TDG-owned rig added in UAE Continuing to pursue opportunities to redeploy existing assets…
Managing through the Downturn Operating Suspended Lower capex cost control dividend Ongoing focus Debt covenant G&A down 50%, on performance relief 45m in savings1 and safety 1 Compared to Dec 31, 2014, pro forma…
Contract Coverage Impact of long-term contracts Supported activity levels and revenue Early termination revenue drove debt reduction Future of contracts Expect less contract coverage industry wide idle rigs available, dayrates too…
Preparing for the Rebound Ready for the opportunities and challenges Prepared to crew rigs Rigs well maintained and operationally ready Managing upgrade requests to equipment Demand for 7,500 PSI circulating system with third pump…
Increased Financial Flexibility Net debt lowered by 124m in last 12 months Credit facility undrawn (C100m/US100m) Covenant relief until Mar 2018 JV distribution paid in Q1 2016 Net Debt/EBITDA1 10.0 8.0 9.3 6.0 7.3 Times…
Long-Term Debt Reduction Strategy Only debt outstanding is US450m Senior Notes Debt US450m Debt/EBITDA Refinancing Senior Notes 1.0 - 2.0x Plan Non-covenant debt Matures in 2019 Long term goal for Interest of 7 7/8% Redeemable…
Why Invest in Trinidad The right rigs for the rebound Canada Heavy-duty double United States 1,500 HP AC triple Well-located operations for rig reactivation and future growth opportunities Flexible cost structure, lowering debt…
Competitive Fleet High Performance Rigs Trinidads rigs: High spec fleet Tier 1 - High Hookload, Top 18% Drive, Large Mud Pumps Compete well for Tier 2 - Must have 5% work in the downturn two of the three (High Hookload, Top…
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 IT'S ABOUT PERFORMANCE 23
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