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Disclaimer. This presentation contains forward-looking statements based upon current expectations that involve a number of business risks and uncertainties. The factors that could cause results to differ materially include, but are not limited to, national and economic conditions, oil and natural gas prices, weather conditions and the ability of oil and gas companies to raise capital or other unforeseen conditions which could impact on the use of services supplied by the Corporation..
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1. Corporate Presentation Spring 2003
2. Disclaimer
3. Agenda
4. Corporate Profile Oilfield services
Drilling
Oilfield rentals
Well servicing
Production testing
Mechanical wireline
Underbalanced drilling
Manufacturing
Operates in Canada, the United States and internationally
6,000 personnel worldwide
5. Current Operations
6. Commitment to Customer Service Committed to providing a safe working environment
Focus on recruitment, training and personnel development
In-house engineering expertise
Design and construction of specialty equipment
Equipment maintained to highest standards
7. Agenda
8. Canadian Operations
9. Canadian Drilling Inventory
10. Canadian Drilling What’s new
Electric double with automated pipe handling
Drilling in the Arctic
ADRTM
11. Underbalanced Drilling Services 14 underbalanced drilling units
What’s new
Built 2 new units
Incorporating use of Interactive-Process-Control technology
Proprietary solids settling tank system
12. Oilfield Equipment Rentals Extensive inventory of specialty drill pipe, BOPs, loaders, tanks, pumps and rig matting
What’s new
Acquisition of Canadian Select Energy West assets
13. Canadian Well Servicing Inventory
14. Canadian Well Servicing What’s new
Consolidated all well servicing operations under ‘Rockwell’ banner
Training project in the Arctic
10 free-standing conversions in 2002 (27 in total)
15. Manufacturing and Production Services 35 wireline units, 41 gas test units and manufacturing facility
What’s new
Services provided in the Arctic
Expansion of wireline through acquisition of assets of Freedom Wireline Ltd.
Proposed expansion through construction of manufacturing facility
16. Future Growth Strategy Continued consolidation
Specialty equipment
ADRTM
New frontiers
Arctic
17. Agenda
18. United States Operations
19. United States Drilling Inventory
20. United States Drilling What’s new
Acquisition of 3 drilling rigs from Westport Oil and Gas Company, L.P.
Redeployment of existing rig from Canada under long-term contract
21. Future Growth Strategy Continued consolidation
Review possible expansion into new markets
Continued redeployment of existing rigs and equipment to maximize efficiency and utilization rates
22. Agenda
23. International Operations
24. International Oilfield Services Inventory
25. International Oilfield Services What’s new
ODE acquired in July 2002
Successful integration with Ensign Group
Contract in Mozambique in March 2003
26. Future Growth Strategy Continued consolidation
Aggressively pursue long-term international contracts
Potential for redeployment of existing rigs and equipment from other divisions
Use of North American expertise and technology
27. Agenda
28. Trading Data TSX: ESI
Common shares outstanding 74,750,000
Market capitalization $1.4 billion
Dividends
2000 $0.1717 per share
2001 $0.1967 per share
2002 $0.2050 per share
2003f $0.2200 per share
29. Revenue
30. Revenue
31. EBITDA
32. Income
33. Debt to Equity
34. Return on Equity
35. Why Ensign is a Solid Investment Diverse operations
Opportunistic growth strategy
Commitment to safety and customer service
Financial strength and discipline
36. www.ensigngroup.com