PRECISION DRILLING CORPORATION July 2023 Investor Presentation
CREATING SHAREHOLDER VALUE DELIVERING HIGH PERFORMANCE, HIGH VALUE SERVICES MAXIMIZING CASH FLOW THROUGH FIELD MARGIN EXPANSION AND REVENUE EFFICIENCY STRICT COST CONTROL & CAPITAL DISCIPLINE HIGHER EQUITY VALUATION THROUGH…
Click to edit Master title style 2023 STRATEGIC 1 DELIVER HIGH PERFORMANCE, HIGH VALUE SERVICE Continue to strengthen our competitive position Focus on operational excellence for drilling and well servicing PRIORITIES Continue to…
BALANCE SHEET & CASH FLOW PROFILE STRENGTHENING DEBT MATURITY PROFILE1 DEBT REDUCTION PROGRESS2 500 No senior note maturities until 2026 Expect Net Debt to 1.6 LONG-TERM DEBT US MILLIONS Adj EBITDA 1.25-1.5x Average cost of…
7 JULY PRECISION MARKET UPDATE Robust cash flow outlook for 2023-2024 FIRM COMMITMENT TO DEBT Targeting to reduce total debt by at least 150 million in 2023 REDUCTION TARGETS Long-term reduction target to reduce total debt by 500…
U.S. SUPER-SPEC RIG MARKET HIGHLY UTILIZED Precision U.S. Activity1 PRESENCE IN EVERY MAJOR U.S. UNCONVENTIONAL OIL & GAS BASIN 4th largest onshore driller in U.S.; 8% market share in 2022 Fleet of 101 drilling rigs, including 66 AC…
CANADIAN FUNDAMENTALS STRONGEST IN NEARLY A DECADE Precision Canada Activity1 AN INTEGRAL SERVICE PROVIDER IN WCSB Largest onshore driller in Canada; 32% market share in 2022 Fleet of 111 drilling rigs including 29 AC Super Triples &…
INTERNATIONAL ACTIVITY ON TRACK TO INCREASE MID YEAR PRECISIONS INTERNATIONAL STRATEGY Precision International Activity1 Focused on leveraging scale in most attractive regions Seeking customers who value High Performance services…
COMPLETION & PRODUCTION WELL POSITIONED ADJUSTED EBITDA1 50 ADJ EBITDA C MILLIONS WCSB largest service rig provider Highest since 2014 40 135 registered rigs (125 in Canada) 2022 ACQUISITION1 2022 best Adj EBITDA performance…
BENEFIT OF LONG-LIFE ASSETS 195 MILLION 2023 CAPEX BUDGET DIGITALLY-ENABLED MODERN 146 MILLION STANDARDIZED 49 MILLION MAINTENANCE EXPANSION & UPGRADES INFRASTRUCTURE & INTANGIBLES Contract-secured Upgrades Activity…
PORTFOLIO IS EXPANDING & SCALABLE (1,500 / day) Process automation control platform Delivers record well times with consistency Eliminates human variances from operation (250 - 1,000 / day) Open platform, providing broader…
RECORD PERFORMANCE CASE STUDY 20-06: DELAWARE BASIN Alpha TM Drilling Productivity 1,400 1,280 1,200 6 DAYS 960 DRILLING PRODUCTIVITY (FT/DAY) 1,000 825 IMPROVEMENT OVER OPERATOR TARGET 800 600 400 147K 200 0 AVG…
SETS NEW BENCHMARK CASE STUDY 20-08: MONTNEY DRILLING PROGRAM 3 DAYS 0 Days vs Depth Performance Curve IMPROVEMENT OVER OPERATOR TARGET 500 1,000 165K 1,500 2,000 AVG SAVINGS PER WELL FOR OPERATOR 2,500 3,000 27%…
16 SUITE OF ENVIORNMENTAL SOLUTIONS HELPING CUSTOMERS REDUCE EMISSIONS Sensor technology and a local data hub to aggregate data & POWER & EMISSIONS transmit to the Precision Cloud MONITORING Enabling real-time monitoring & a…
17 SUITE OF ENVIORNMENTAL SOLUTIONS BATTERY ENERGY STORAGE SYSTEM CASE STUDY Rig Power Usage DRILLING WITHOUT BESS - 3 GENERATORS 26% INCREASE IN ENGINE EFFICIENCY Natural Gas DIESEL GEN ALWAYS RUNNING Natural Gas…
POSITIONED FOR NEW ENERGY OPPORTUNITIES GHG REDUCTION PROVIDING CUSTOMERS REAL SOLUTIONS Modern fleet significantly reduces environmental impact 61 rigs with Dual-Fuel or Natural Gas engines 107 Pad XY-Walking rigs Hybrid battery…
PERSONNEL COMPETITIVE ADVANTAGE IN LABOR CHALLENGED MARKET FIELD RECRUITING A CORE FOCUS 1,300 99% 1 49,000 400-500 Retention for global People new to our industry Applications processed Screened candidates in operations field…
FOCUSED ON ESG LEADERSHIP 2022 ESG Performance Data Recently Released Available on our website at www.precisiondrilling.com/esg Consistent with SASB, TCFD and GRI disclosure standards 2022 ESG Highlights Disclosed GHG emissions data…
SHAREHOLDER VALUE DELIVERING HIGH PERFORMANCE, HIGH VALUE SERVICES MAXIMIZING CASH FLOW THROUGH FIELD MARGIN EXPANSION AND REVENUE EFFECIENCY STRICT COST CONTROL & CAPITAL DISCIPLINE HIGHER EQUITY VALUATION THROUGH…
APPENDIX Precision Drilling Corporation 22
HISTORICAL INDUSTRY DRILLING ACTIVITY U.S. LAND RIG COUNT 10 CANADIAN LAND RIG COUNT 5 YEAR HISTORY YEAR HISTORY 2019 1,804 300 2014 Avg Active 378 2020 2,000 Rigs 2014 Avg 33% Active Rigs 2021 y/y Increase 1,800 2022 250 174…
SYSTEMS & SCALE DELIVER PERFORMANCE INTEGRATED BUSINESS MODEL DRIVING EXCELLENCE & LOWERING COSTS IT Infrastructure and ERP Manufacturing + Capital Projects SAP S4 HANA Supports Increased Data Flows Engineering Operating…
ADVANCED RIG TECHNOLOGY REMOTE OPERATIONS CONTROL CENTER OPERATIONAL EFFICIENCY (OPTIMIZATION*) REDUCES EMISSIONS 1 25,000 + ft Racking Capacity 2 AlphaAutomationTM, AlphaAppsTM & AlphaAnalyticsTM PRECISION SUPER TRIPLE 3 Drilling…
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