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1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited

Nabors Drilling Canada Limited · May 1, 2019 · 15 slides

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Slides

  1. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 1
    1Q19 Earnings Presentation May 1st, 2019 Presented by: Anthony G. Petrello Chairman, President, & Chief Executive Officer William J. Restrepo Chief Financial Officer
  2. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 2
    Forward-Looking Statements and Non-GAAP Financial Measures We often discuss expectations regarding our future markets, demand for our products and services, and our performance in our annual, quarterly, and current reports, press…
  3. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 3
    Recent Company Highlights Increased U.S. Drilling average daily margins to 12,350 from 11,428 in Q4 L48 Margins increased to 10,170 from 9,428, an 8% sequential increase from Q4 Recent U.S. Rig Deployments 2 Upgraded PACE-F rigs…
  4. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 4
    Financial Overview 4
  5. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 5
    Financial Summary (000 except EPS) 1Q18 2Q18 3Q18 4Q18 1Q19 Operating Revenues 734,194 761,920 779,425 782,080 799,640 Adjusted EBITDA(1) 168,414 187,683 200,960 201,619 196,996 Adjusted Operating(1) (45,034) (30,579)…
  6. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 6
    Debt and Liquidity (As of March 31, 2019) High 3Q18 4Q18 1Q19 Change 1Q19 from 3/31/12 9/30/18 12/31/18 3/31/19 (MM's) 4Q18 Total Debt 4,750 3,738 3,586 3,678 92 Cash and ST Investments 494 389 482 470 (12) Net Debt(1) 4,256 3,349…
  7. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 7
    Debt Maturity Profile as of 3/31/19 All figures in millions Nearest Maturity in 2020 (1) 2,500 Debt 3/31/19 Total Debt: 3.68Bn(2) Total Liquidity: 2,000 Net Debt: 3.21Bn(2) 2.10 Billion Available Liquidity: 2.10Bn(3) 470 1,500…
  8. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 8
    Business Segments 8
  9. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 9
    1Q19 Rig Utilization & Availability (1) 1Q19 Average Average Rig Fleet Rigs Working Utilization U.S. Lower 48 AC 1500HP 114 102 89% AC Others 68 7 10% SCR Rigs 12 2 17% U.S. Lower 48 Total 194 112 58% U.S. Offshore 12 4 33%…
  10. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 10
    Lower 48 Rig Utilization by Type As of April 26, 2019 Rig Type Total Rigs Active Total Util. AC 109 182 60% PACE-X* 46 47 98% PACE-M750 4 4 100% PACE-M800 6 6 100% PACE-M1000 4 4 100% PACE-B 29 29 100% PACE -S 9 11 82%…
  11. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 11
    Nabors Drilling Operations As of April 26, 2019 Total = 221 US 124 Canada 9 Russia 3 Mexico 2 UAE 0 Saudi Arabia 42 Oman 4 Venezuela 3 Ecuador 0 Argentina 10 Algeria 3 India 2 Italy 0 Columbia 14 Kazakhstan 3 Kuwait 2 PNG 0…
  12. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 12
    Appendix 12
  13. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 13
    Rig Margins & Activity 1Q18 2Q18 3Q18 4Q18 1Q19 Avg. Rigs Avg. Rigs Avg. Rigs Avg. Rigs Avg. Rigs Margin(1) Margin(1) Margin(1) Margin(1) Margin(1) Working Working Working Working Working U.S. Drilling 8,171 111.8 9,381…
  14. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 14
    Reconciliation of Adjusted EBITDA to Income (Loss) from Cont. Operations Before Income Taxes Adjusted operating income (loss) represents income (loss) from continuing operations before income taxes, interest expense, earnings (losses)…
  15. 1Q 2019 Earnings Presentation – Nabors Drilling Canada Limited – slide 15
    Reconciliation of Net Debt to Total Debt Net debt is computed by subtracting the sum of cash, cash equivalents, and short-term investments from total debt. This non-GAAP measure has limitations and therefore should not be used in…

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