Precision Drilling Overview 2013 Revenue: 2 Billion Location Leading North American horizontal driller U.S. 43% 50% Canada 238 High Performance Tier 1 rigs 7% International Delivering high return growth investments…
August North American Market Update Tier 1 demand strong, pricing firm and renewals moving to higher dayrates. Tier 1 utilization approximately 90%. Precision operates 210 Tier 1 rigs with 28 additional announced deliveries through…
Transition to Oil Drilling 2,000 1,800 1,600 U.S. Active Land Rig Count 1,400 1,200 1,000 800 600 400 200 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: BHI Gas…
Canadian Activity Update 800 700 Canadian Active Land Rig Count 2011 600 500 400 300 200 100 2009 0 5 Year Range 2009 - Present 2012 2013 2014 Source: BHI 6
Positioned In Most Active North American Regions Positioned in Most Active North American Regions Dots representative of areas where Precision has had operations within the past two years 7
Canadian LNG Opportunity Proposed projects 14 16Bcf/day Longer-term demand source Require deeper Tier 1 rigs Opportunity for 20 to 25 rigs per Bcf of export capacity ST-1200 and ST-1500 rigs ideal for type of development Pad…
Superior Value for Resource Customers Resource Exploitation Customer Needs Lower Well Costs/Efficiency Safety & Environmental Industrialized Predictability/Repeatability Process Long-Term Partner People Technology Systems…
High Performance People Average TTM Retention Drilling Rigs (US & Canada) experience (July 2014) Superintendent 16 yrs 84% Rig Manager 14 yrs 90% Driller 8 yrs 88% For 2013, 255 Precision drilling rigs and 207…
Precision Systems at Work in 2013 Toughnecks talent Precision acquisition program construction processed 44,274 of 2 ST-3000 applications and rigs in Dubai hired 2,798 people 3,992 employees completed training through…
Precisions Tier 1 Super Series Fleet High Performance Horizontal Drilling Machines Super Triple 1500 1 Super Triple 1200 2 Super Single Rapid mobility: Walking/skidding system Location to location Sophisticated connections…
ST-1500 in Bakken Support complex Drilling module Utility Corridor 13
Growth in Tier 1 Super Series Fleet Tier 1 Rigs Additional Tier1 Rigs Beginning of year Tier 1 113 238 221 17 +145 200 21 188 12 120 44 144 120 24 109 11 5 221 16 200 188 144 120 Total Tier 1 238 1 109 93 Tier 2 101…
Precision Horizontal Leadership Percentage of Horizontal/Directional Wells United States 1,2 Canada 3 86% 93% 79% 82% Precision Industry Precision Industry 1. Precision Q2 2014 Average. 2. Baker Hughes rig count average…
Schlumberger Alliance Drives Integrated Drilling Growth Alliance Customers Maximum efficiency Reliability More productive drilling programs Better field economics 16
Mexico / Middle East Drilling Footprint Middle East 4 rigs in Saudi Arabia (3 active, 1 deployment late 2014) 2 active rigs in Kurdistan 3 rigs in Kuwait (2 active, 1 deployment mid 2015) Focus on deep high pressure drilling…
International Growth Late Q2 2014 - Initiated Revenue 50 Kuwait with 2 Rigs Initiated Kurdistan with 2 Rigs International Revenue (million) 40 +29% Deployed additional 3 Rigs to Mexico 30 Initiated Saudi with 3…
Completion & Production Largest well service provider in Canada and growing presence in U.S. 210 Well Service and Snubbing Rigs 11 Coil Tubing units Large fleet of high value rental equipment Camps and Catering Excellent footprint…
Precisions Canadian Dayrate Growth Average Quarterly Dayrate 24,000 22,000 Q4 20,000 Q3 Q2 Q1 18,000 16,000 Year over year, quarterly average increase of 11% from 2010 to 2013 14,000 12,000 2010 2011 2012 2013…
Revenue and Activity Growth in Non-Canadian Drilling 300 2,200 PD U.S. and International Revenue ( millions) 252 244 247 250 224 226 217 215 2,000 U.S. Industry Avg. Rig Count * 204 205 199 200 150 1,800…
Capital Spending Highlights 1 2014 Planned Capital Spending Expansion & Upgrades Construction and delivery of 18 Maintenance & Infrastructure newbuild Super Series rigs 8 to U.S. 7 to Canada 199 3 to Middle East 195 320…
Balance Sheet Flexibility Available liquidity as of Attractive Capital Structure (1) 6/30/2014(2) Debt to total capital: 42% Interest coverage: 7.3x 1,294 Long maturity, low cost debt Average interest rate of 6.2% 576 Cash First…
Precision Drilling Corporation Overview Leading North American horizontal driller 238 High Performance Tier 1 rigs Delivering high return growth investments Increasing shareholder returns (dividend and share price)…
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