Investor Presentaiton
US Rig Count
US Market Stabilising
TMK
US market has been difficult with low rig utilisation and low gas pricing suppressing drilling activity
Premium tubular content increasing with unconventional
drilling activity
US Oil and Gas Rigs by Type of Drilling
Increasing long laterals drive growth
Footage drilled per rig, '000 feet
400
2,100
1,800
1,500
1,200
900
600
300
350
300
Vertical -24%
250
200
Horizontal - 64%
150
100
50
Directional - 12%
0
0
Jan-09 Sep-09 May-10 Jan-11 Oct-11
Source: Baker Hughes
Jun-12 Feb-13 Nov-13
Source: Baker Hughes
2006
2007
ā
Growing sign of LNG export market developing driving both pipeline and further drilling growth
Trade case pending, whilst delayed, a more favorable pricing regime may follow
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