CORPORATE PRESENTATION SEPTEMBER 2017 IT'S ABOUT PERFORMANCE 1
Why Invest in Trinidad The right assets to meet customer demand Well located in key resource plays International diversification Strong financial position IT'S ABOUT PERFORMANCE 4
Trinidad is Active in the Key Plays Main areas of activity Permian Montney Montney Deep Basin Deep Basin Cardium Duvernay Active Fleet1 Bakken / Torquay Frobisher Permian Haynesville Eagle Ford Permian Montney Deep Basin…
Update from the Field Canada Improving activity into the fall, with visibility of activity into winter drilling program Activity focused mostly in Duvernay, Montney and Deep Basin Trinidad regaining market share as dayrates rise…
Diversified Operations REVENUE OPERATING DAYS RIG COUNT (TTM) 1 (TTM) 1 (TTM) 1 32% 44% 48% 49% 43% 45% 25% 7% 7% US Canada JV US Canada JV US Canada JV Geographic diversification provides stability, optionality and…
Canadian Fleet 70 Rigs in Canadian Fleet RIG TYPE HORIZONTAL DEPTH HOOKLOAD* (METRES) (LBS) 9% 13% Singles 0 - 4,000 20% 16% 350,001 Triples 4,001 - 6,999 < 350,000 79% 76% Doubles / 7,000 + 80% HD 9% Trinidads…
US and International Fleet 69 Rigs in US and International Fleet SPEC* RIG TYPE* HORSEPOWER 20% 32% Mech 28% AC = 1,500 9% 16% SCR 18% High Spec 1,000 - Mech 1,499 Ultra-high < 1,000 71% Spec 57% 50% The US and…
Consistent Industry Outperformance Trinidads rigs are more active CANADIAN UTILIZATION1 RATES US AVERAGE ACTIVE RIG COUNT TDG US US 60% 65 Trinidads US 2,800 Trinidads Canadian 60 Average Active Rig Count Utilization 55 2,400 50%…
International Joint Venture Fleet 10 Rigs in Joint Venture Fleet HORSEPOWER RIG TYPE COUNTRIES 20% 20% Other Mech 40% Saudi Arabia 2,000 + HP AC 40% 3,600 HP Mexico 80% 60% 40% The joint venture fleet has some of the…
Trinidads International Operations HAL JV contributing Adjusted EBITDA YTD 2017 25.4 m1 Saudi: three rigs working, one on standby revenue Mexico: one rig working, one on standby revenue Two rigs early terminated, US10.9m in early term…
International Strategy Extended Saudi rigs on a well-to-well basis Relocate/re-contract available Mexico rigs Pursuing opportunities through JV and independently Saudi Arabia, Kuwait and Argentina most likely Possibility to…
Changing Industry Conditions Changes in the industry Drilling deeper, longer wells Customers demanding better efficiency Trinidad sharing the benefits of improved performance Innovative contracts to reward performance Using…
RigMinder Adds Functionality and Revenue Fully integrated rig performance solution Provides improved, repeatable performance and better efficiency Integrates drilling data, equipment data and existing rig control system to optimize…
RigMinder Acquisition Metrics At 2018 2020 Close1 US30 million US10 million Potential Earnout US25 million in cash Payable on the Dependent on 2019 US5 million in anniversary of the profitability of Trinidad shares acquisition…
RigMinder Technology Improves Performance Full Rig Integration Package RigMinder EDR1 PLC2 Integration Criterion Bit Ongoing Guidance Advancement Monitors drilling Integrates with Improved Continued and equipment Trinidads…
RigMinder Electronic Data Recorder (EDR) Equipment monitoring drives improved performance RigMinder EDR monitors functionality of rig and directional equipment to provide near real-time data on drilling process Ongoing PLC monitoring…
Criterion Bit Guidance Provides improved, repeatable directional drilling accuracy Continually monitors downhole tool face placement Provides corrective directions to smooth well bore and stay within well plan Integrates with EDR,…
Benefits of RigMinder Customer benefits Reduction in well bore costs and increased production by optimizing well path Improved drilling performance with smoother wells and better accuracy to well plan Better data management and…
Increased Revenue Generation New Revenue Platforms EDR Rental Criterion Directional Guidance Third-Party Tool Rentals Monitoring equipment Optimizes directional Negotiating bulk deals with third Communication rentals performance…
Contracts Provide Stability with Upside Current contract status 22% or 33 rigs under long-term contract1 with more rigs on variety of shorter contract terms Contracts with upside Commodity-price linked contracts provide ability to…
Pro Actively Maintain Market Share 2017 Capital Budget 175 million 2017 Capital by Type Upgrades on 30+ rigs to increase dayrates and marketability Largely backed by customer commitments Capex expected to be funded by cash flow,…
Solid Balance Sheet and Financial Flexibility Senior note US350m, 6.625% matures 2025 Credit facility undrawn at Q2 2017 (230 million available) Joint venture distribution of 40 million paid in Q2 2017 NET DEBT TO ADJUSTED EBITDA1…
Trinidads Strengths Strong operational performance Well-trained people and strong safety performance In-demand, high-spec equipment Strategic geographic footprint and optionality Solid balance sheet and strong liquidity IT'S…
www.trinidaddrilling.com Ph: 403.265.6525 IT'S ABOUT PERFORMANCE 26
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