Trican Well Service Ltd. · TSX:TCW
Trican Well Service — Shareholder Meeting (May 2020)
10 slides from Trican Well Service's shareholder meeting presentation, May 14, 2020
Slide 1: Annual Meeting of Shareholders of Trican Well Service Ltd.
ANNUAL MEETING OF SHAREHOLDERS OF TRICAN WELL SERVICE LTD. May 14, 2020
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward-looking statements include, among others, the Company’s prospects, expected revenues, expenses, profits, expected development
Slide 3: Business Update
BUSINESS UPDATE
Slide 4: Trican Response to COVID-19
TRICAN RESPONSE TO COVID-19 ▪ Trican has had no cases of COVID-19 in the company ▪ Closed our head office and field offices on March 16th when the governments closed schools ▪ Office staff worked from home • IT systems have worked very well in allowing our people to work from home with few issues ▪
Slide 5: Balance Sheet
BALANCE SHEET ▪ We have strategically pursued a path of aggressive deleveraging (more than $700 million since the last cycle) ▪ Positions us with low debt to capitalization levels ▪ Relative market strength within the industry 5
Slide 6: Shareholder Focus
SHAREHOLDER FOCUS ▪ It has been a tough Canadian market, but we continue to find ways to return funds to shareholders (nearly $400 million returned since 2006) ▪ Our disciplined strategy of low leverage has positioned our share price in a better position relative to peers ▪ May provide opportunities
Slide 7: Trican Strategy 2020
TRICAN STRATEGY 2020 ▪ Keep our people safe from the COVID-19 virus ▪ Continue to focus on improving our safety performance ▪ Size our business to the level of activity we will see in the second half ▪ Maximize utilization on active equipment and keep costs very low ▪ Utilize all government programs
Slide 8: Trican Strategy 2020
TRICAN STRATEGY 2020 ▪ Protect our balance sheet • Are nearly bank debt free ▪ Take advantage of opportunities when we see a line of sight to recovery or as they arise ▪ We will position ourselves to come out of this downturn in a stronger position 8
Slide 9: Our Strategic Priorities Remain Intact
OUR STRATEGIC PRIORITIES REMAIN INTACT Having safe, efficient, customer- focused operations is always Strengthen - Maintain market leading position in Fracturing and Cementing service lines priority #1. Beyond safety and Existing - Strengthen auxiliary service lines (Coiled Tubing) operational perfo
Slide 10: Questions
QUESTIONS CTRICAN]