1|

PRECISION DRILLING CORPORATIONJune 2020

*Rig 576, Loving County TX, Permian Basin

TSX: PD NYSE: PDSTSX: PD NYSE: PDS

2| 2|

Forward-looking Statements

Certain statements contained in this report, including statements that contain words such as "could", "should", "can", "anticipate", "estimate", "intend","plan", "expect", "believe", "will", "may", "continue", "project", "potential" and similar expressions and statements relating to matters that are nothistorical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-lookingstatements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively,"forward-looking information and statements").

In particular, forward looking information and statements include, but are not limited to, the following: our strategic priorities for 2020; our capitalexpenditure plans for 2020; anticipated activity levels in 2020 and our scheduled infrastructure projects; anticipated demand for Tier 1 rigs; the averagenumber of term contracts in place for 2020 and 2021; our future debt reduction plans beyond 2019.

Certain of the information in this presentation is “financial outlook” within the meaning of applicable securities laws. The purpose of this financialoutlook is to provide readers with disclosure regarding our reasonable expectations as to the anticipated results of its proposed business activities.Readers are cautioned that this financial outlook may not be appropriate for other purposes.

These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and ourperception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under thecircumstances. These include, among other things: the fluctuation in oil prices may pressure customers into reducing or limiting their drilling budgets;the impact of the COVID-19 global pandemic on our operations; the status of current negotiations with our customers and vendors; customer focus onsafety performance; existing term contracts are neither renewed nor terminated prematurely; our ability to deliver rigs to customers on a timely basis;and the general stability of the economic and political environments in the jurisdictions where we operate.

Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements willconform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results todiffer materially from our expectations. Such risks and uncertainties include, but are not limited to: volatility in the price and demand for oil and naturalgas; fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services; our customers’ inability to obtain adequate credit orfinancing to support their drilling and production activity; the success of our response to the COVID-19 global pandemic; changes in drilling and wellservicing technology which could reduce demand for certain rigs or put us at a competitive disadvantage; shortages, delays and interruptions in thedelivery of equipment supplies and other key inputs; the effects of seasonal and weather conditions on operations and facilities; the availability ofqualified personnel and management; a decline in our safety performance which could result in lower demand for our services; changes inenvironmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and greenhouse gasemissions, which could have an adverse impact on the demand for oil and gas; terrorism, social, civil and political unrest in the foreign jurisdictionswhere we operate; fluctuations in foreign exchange, interest rates and tax rates; and other unforeseen conditions which could impact the use ofservices supplied by Precision and Precision’s ability to respond to such conditions.

Readers are cautioned that the forgoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect ourbusiness, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited toPrecision’s Annual Information Form for the year ended December 31, 2019, which may be accessed on Precision’s SEDAR profile at www.sedar.com orunder Precision’s EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this news release are made as of thedate hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result ofnew information, future events or otherwise, except as required by law.

3| 3|

Creating Shareholder Value

GENERATING STRONG FREE CASH FLOW FROM LONG-LIFE ASSETS WITH

AGGRESSIVE COST MANAGEMENT

DIGITAL TECHNOLOGY LEADERSHIP AS GROWTH ENGINE

HIGHER EQUITY VALUATION THROUGH DELEVERAGING

MAINTAINING STRONG LIQUIDITY POSITION

OPERATIONAL EXCELLENCE IN LAND DRILLING

4|

Precision At A Glance

227 Drilling Rigs:Canada (109)U.S. (105) International (13)

198 Service Rigs:Canada (189)1

U.S. (9)

Complementary Services:

Camps & Catering Rentals

STRONG GLOBAL SCALE

HIGH PERFORMANCE LAND DRILLER

PRECISION DRILLING

▪ Modern & Standardized Fleet

▪ Diversified Customer Base

▪ Digital Technology Leadership

DRILLING INDUSTRY▪ Scale is Critical

▪ Long-life Assets

▪ Variable Cost Structure

▪ High Barriers to Entry

▪ Differentiated Services – Pricing Power

▪ High Performance Segment is Consolidated

U.S. & INTERNATIONAL OPERATIONS ~76% of 2019 DRILLING REVENUE

1. Well Servicing has registered 114 rigs in Cda – 75 rigs were not registered and are not included in our active count. On April 15, 2019 we completed sale of our 12 snubbing units.

5| 5|

Precision’s Proven Track Record Delivering on Strategic Priorities

6| 6|

Precision’s 2020 Strategic Priorities – Creating Shareholder Value

Demonstrate operational excellence in all aspects of our business including operational, financial and ESG (environmental, social and governance) metrics.

Generate strong free cash flow and utilize $100 million to $150 million to reduce debt in 2020.

Leverage our Alpha technology platform as a competitive differentiator and source of financial returns for Precision.

OPERATIONAL EXCELLENCE

REDUCE DEBT WITH FREE CASH FLOW

TECHNOLOGY AS A DIFFERENTIATOR

1.

2.

3.

7|

2020 STRATEGIC PRIORITY #1

GENERATE STRONG FREE CASH FLOW TO REDUCE DEBT

Generate strong free cash flow and utilize $100 million to $150 million to reduce debt in 2020

Q1 2020 UPDATE

▪ 2020 debt reduction at $41 million.

▪ Strong liquidity position of over $800 million.

▪ RCF covenant amendments through to Q1 2022.

▪ 2020 capital expenditure of $48 million, down 50%.

▪ 30% reduction in fixed costs, including $30 million in G&A.

▪ 2020 estimated interest expense approximately $100 million.

8|

Cash Preservation Remains a Top Priority

2020 COST REDUCTIONS

~$40M Interest Savings Since 2016

$0

$50

$100

$150

Capital Expenditures G&A Interest Expense

C$

mill

ion

s

2016-2019 Average 2020 Original Guidance 2020 Current Consensus

1. 2020 Consensus numbers from Nasdaq IR as of June 19, 2020.

▪ Preserving strong liquidity position of over $800 million

o Extended undrawn revolver to November 2023 – achieved covenant amendments

o $80 million to $100 million of released working capital this year

o Debt targets intact, however liquidity remains priority

▪ Reducing cash spending by over $100 million

o 2020 capital spending plan reduced to $48 million – down 50%

o 30% reduction in annualized fixed costs, $30 million reduction of G&A

9| 9|

Free Cash Flow Generation

1. Calculation: Cash from Operations less CapEx. 2011 to 2015 saw extensive investment in U.S. and Middle East fleet. Slight Y/Y decrease in 2019 FCF due to deployment of new build rig in Kuwait mid-year. 2020 FCF Consensus numbers from Nasdaq IR as of June 19, 2020.

$661

$65

5.25%7.125%

FREE CASH FLOW TRANSITION1

▪ Super Series investment enabled free cash flow harvesting

▪ Strong free cash flow outlook for 2020

▪ Have decommissioned over 220 rigs from 2010 to 2019

SUPER SERIES RIGS ADDED

(300)

$0

$300

2014 2015 2016 2017 2018 2019 2020E

FCF

(MIL

LIO

NS)

2011–2016: CRITICAL INVESTMENT PERIOD

2017-FORWARD: CASH HARVEST PERIOD

Canada

U.S.

Int’l

112

169182

201217 221 222 224 227

2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9

115 SUPER SERIES RIGS ADDED

10|

2020 Capital Plan

2020 PLAN:

$48 MILLION

EXPANSION & UPGRADES

$12 MILLION

▪ AlphaAutomation systems

▪ Contract-secured upgrades

MAINTENANCE & INFRASTRUCTURE

$36 MILLION

▪ Activity dependent

2019 CAPITAL EXPENDITURES TOTALLED $162 MILLION

2020 PLAN PREVIOUSLY SET AT $95 MILLION

11| 11|

Precision’s Balance Sheet Management Creating Stronger Capital Structure

1. Estimated debt reduction assumes $150 million for 2020 at FX 1.35. 2. Long-term debt reduction target of $700 million between 2018 and 2022.3. Total liquidity: year-end cash balance + undrawn US$500M revolving credit facility at FX 1.35 (~C$675 million CAD).4. As reported March 31, 2020.

DEBT REDUCTION PROGRESS1

$661

$65

0.4

0.6

0.8

1.0

1.2

1.4

1.6

2015 2016 2017 2018 2019 2020E

Lon

g-te

rm D

ebt

US$

Bn

s

5.25%

7.125%

6.5%

~C$421 MILLION DEBT REDUCTION SINCE 20182

0.2x

0.3x

0.4x

0.5x

0.6x

2016 2017 2018 2019

Tota

l Liq

uid

ity

to

Lon

g-te

rm D

ebt

DECREASING ANNUAL INTEREST EXPENSE1

$50

$60

$70

$80

$90

$100

$110

2015 2016 2017 2018 2019 2020E

An

nu

al In

tere

st E

xpen

se

US$

Mln

s

CURRENT AVG COST OF DEBT 6.75%

HISTORY MAINTAINING HIGH LIQUIDITY3 SENIOR DEBT MATURITY PROFILE4

US$66

US$345

US$303

US$368

2020 20242021 2022 2023 2025 2026

12|

2020 STRATEGIC PRIORITY #2

OPERATIONAL EXCELLENCE

Deliver operational excellence in all aspects of our business, operations, financial and environment, social and governance (ESG)

Q1 2020 UPDATE

▪ Strong N.A. market share driven by Super Series fleet.

▪ Expanded scale in Middle East with Kuwait new-build.

▪ Strong cash flow in Canada.

▪ U.S. operating margins up 6% from prior year.

▪ COVID-19 Crisis Mgmt Plan – no disruptions to service capability.

13| 13|

Precision’s Competitive Positioning

PRECISION SYSTEMS + SCALE

HIGHLY SKILLED RIG CREWS

SUPER SERIES RIGS

14| 14|

Recruiting, Training & Retention – Competitive Advantage for Precision

1,200 – 1,400 Screened candidates in the

system

RETENTION FOR GLOBAL DRILLING OPERATIONS WAS 90% IN 2019

Leadership Development

Programs

Career Path Management Structured Promotion Programs

Long-term Compensation Programs

Field Training Investments

Permanent Training Facilities with Fully

Functioning Rigs

Tier 1 Assets

Structured Competency

StandardsWorld-Class Safety

Culture and Processes

238,399Applications processed

2013-2019(24,677 Applications in 2019)

FIELD RECRUITING A CORE FOCUS

TECH CENTERS TRAINED OVER 5,400 PEOPLE IN 2019

15|

United States

▪ Diversified across Lower 48, active in all unconventional plays

▪ 69 available ST 1500 & ST 1200 Super Series rigs

▪ Precision Alpha Technologies driving further growth

1. Annual market shares represent yearly average Precision rig count divided by industry rig count – industry data provided by Baker Hughes.* Dots on map representative of areas where Precision has had operations since 2017.

FREE CASH FLOW, SCALE, MARKET SHARE GROWTH

5%

6%

7%

8%

9%

2014 2015 2016 2017 2018 2019

U.S. Market Share1

16|

Canada

$156

$269

$321

STRONG FREE CASH FLOW, SCALE & MARKET SHARE

1) Market share calculated based off CAODC industry operating days.2) Cash flow calculated using reported daily margins multiplied by drilling utilization days plus C&P EBITDA, less Canadian maintenance capital expenditure.* Dots on map representative of areas where Precision has had operations since 2017.

▪ Generated $1.9 billion in free cash flow since 20102

▪ Virtually no upgrade capital spending planned in 2020

▪ Precision’s Alpha Technologies driving financial growth

▪ Scale drives operational and cost efficiencies20%

25%

30%

35%

2014 2015 2016 2017 2018 2019 Q1 2020

Canadian Market Share1

17|

International

ESTABLISHED SCALE, STABLE CASH FLOW

▪ Average of six rigs contracted through 2021

▪ Targeting IOC’s and NOC’s that value Safety and

Performance

7 NEWBUILD RIGSDEPLOYED SINCE 2014

13 TOTAL RIGSIN MIDDLE EAST (INCLUDES KUWAIT NEW BUILD)

Kuwait Rig 905

18|

Completion & Production

Largest service rig provider in the WCSB and

established presence in the U.S.

Well positioned for free cash flow – 63% Y/Y

increase in total C&P EBITDA in 2019

Precision Well Servicing

$(10.0)

$-

$10.0

$20.0

$30.0

2015 2016 2017 2018 2019

C&P EBITDA (millions)

IMPROVING CASH FLOW

Precision Camps & Catering Precision Rentals

19| 19|

Environmental, Social, Governance (ESG) Activities

$661

$65

5.25%

Significantly enhance ESG disclosure included in most recent Information Circular, Annual Report and Annual Information Form

• Extensive COVID-19 Response Plan

• 1.4% Improvement Triple Target Zero Days*

• Adopted Diversity & Inclusion Policy*

• 5,400 + Employees Trained at Tech Centers*

• Safety Protocol & Procedures

• Board of Directors

- 100% Attendance*- Independent- Diversity

• Governance Committees + External Audits

• PD Code of Conduct

• 100% Hotline Issues Resolved*

• ESG Metrics in Executive Comp.

• 1,800 PD Supported Volunteer Hours*

• Partnerships With STARS, Heritage Park Society, Camp Kindle

• Financial Support for Local Causes

• Youth Scholarship Programs

• 25% of Fleet Natural Gas Burning Lower Carbon Fuel*

• 49 Bi-Fuel Systems in North America*

• Pad-Walking Systems & Technological Efficiencies

• Industry Best Practices on Spill Prevention & Noise Mitigation

PEOPLE ENVIRONMENTCOMMUNITYGOVERNANCE

* Reported 2019 year-end stat from Management Circular. Precision continues to deliver on strong ESG initiatives. Triple Target Zero Days (Injury Free, Safe Driving, Zero Spills)

20|

2020 STRATEGIC PRIORITY #3

TECHNOLOGY AS A DIFFERENTIATOR

Leverage Alpha technology platform as competitive differentiator and source of financial returns for Precision

Q1 2020 UPDATE

▪ 38 AlphaAutomation systems deployed in the field.

▪ 1,400+ wells with AlphaAutomation – trained 100+ key field personnel.

▪ Large IOC customer standardizing AlphaAutomation and AlphaApps.

▪ 15 AlphaApps – several commercialized.

▪ Partnered with a major U.S. customer to trial AlphaAnalytics.

21| 21|

AlphaAutomation – Case Study: Duvernay Drilling Program

12.2

5.9

13.8

710

6.2

0

20

Pre Alpha AlphaTim

e in

Min

ute

s

Time Savings - Non Automation vs Automation

Vertical section Intermediate Section

Savings in $/mt

11%

0

10

20

292

4

301

0

312

6

321

4

330

1

338

8

347

5

356

2

364

9

373

6

382

3

391

0

399

7

410

9

419

3

427

9

436

5

445

2

453

9

462

6

471

3

480

1

491

7

500

4

509

1

517

7

526

4

535

3

549

7

558

5

567

1

575

8

584

5

593

1

602

0

610

7

625

2

633

8

642

5

651

3

660

0

668

7

W2W Consistency with Alpha (time in mins)

0

10

20

207

0

215

6

227

2

236

0

244

7

253

4

262

1

270

8

279

5

288

2

296

9

305

6

314

3

325

5

333

9

342

5

351

1

359

8

368

5

377

2

385

9

394

7

406

3

415

0

423

7

432

3

441

0

449

9

464

3

473

1

481

7

490

4

499

1

507

7

516

6

525

3

539

8

548

4

557

1

565

9

574

6

583

3

W2W Inconsistency without Alpha (time in mins)

Savings in W2W time

~50%

AlphaAutomationPromotes Record Well

Times for Customer with Consistency

CONSISTENT PREDICTABLE REPEATABLE

RESULTS10-well Duvernay Program

22|

AlphaApps - Precision Offering Full Suite Of Drilling Performance Apps

7

4

1

2

1

ROP OPTIMIZATION

DIRECTIONAL

DRILLING MECHANICS

EQUIPMENT OPTIMIZATION

RISK MITIGATION

OPEN-SOURCE PLATFORM CAN HOST 3RD PARTY DEVELOPED APPS

ON-BOTTOM

APPS

COST CONTROL

APPS

23|

AlphaAnalytics - Case Study: Montney Drilling Program

Well Construction TimeOperational Time

Technical Limit TimeNPTILT

Days T(0)

Days T(-0)

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32

Ho

le D

ep

th M

)

Well Days

6 Wells - Rig Without Alpha

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32

Ho

le D

ep

th M

)

Well Days

8 Wells - Rig With Alpha

Avg. Well Improvement

4.6 Days Savings

24| 24|

Alpha Technology Commercialization – Revenue Potential

REVENUE IMPACT

Each technology is a service sold to customers as bolt on to

our existing rigs

FLEET PULL THROUGH

Pull through on existing rigs and directional drilling service

TECHNOLOGY OFFERING

DAILY EBITDA IMPACT ESTIMATE

AVAILABLE FLEET

EST. % OF ACTIVE RIGS (2021)

AlphaAutomationTM $1,500 100+ rigs 80%-100%

AlphaAppsTM $250-$1,000 100+ rigs 80%-100%

FIXED DAILY CHARGE INCREASED UTILIZATION & DAYRATE

REINFORCED COMPETITIVE ADVANTAGE

New technologies will strengthen competitive

advantage and provide a platform for future technology

revenue streams

MARKET SHARE

DEPLOYED IN THE FIELD

38

AlphaAnalyticsTM TBD 100+ rigs 80%-100%

25| 25|

Creating Shareholder Value

GENERATING STRONG FREE CASH FLOW FROM LONG-LIFE ASSETS WITH

AGGRESSIVE COST MANAGEMENT

DIGITAL TECHNOLOGY LEADERSHIP AS GROWTH ENGINE

HIGHER EQUITY VALUATION THROUGH DELEVERAGING

MAINTAINING STRONG LIQUIDITY POSITION

OPERATIONAL EXCELLENCE IN LAND DRILLING

26| 26|

Appendix

27| 27|

Precision’s Response Plan for COVID-19 – Workforce Safety

▪ Top priority of protecting health and safety of our employees and in communities we operate

o Providing all employees access to clear and consistent communications, a Crisis Management

Response plan and a Crisis Management website

o Implementing prescriptive personal hygiene, distancing and self-quarantine standards along

with work area disinfecting requirements standards based on CDC and WHO standards

o Implementing employee health support and revised leave plans to assist employees who may

be at risk

o Banning non-essential travel globally

o Strongly encouraging staff to work remotely whenever possible

o Screening fit-for-duty of all employees on a regular basis to check for wellness, health, prior

travel and prior social contacts

o Implementing standards for interactions with 3rd party contractors and visitors to minimize risk

of exposure

o Operational Recovery and Disinfecting Plans for rigs or facilities which may have an infectious

virus contamination event

28|

Advanced Rig Technology

1500 HP TDS-11 TOP DRIVE

25,000’ + FT RACKING CAPACITY

ALPHA AUTOMATION + ALPHA APPS*

DRILLING EQUIPMENT CONTROL SYSTEM*

HIGH SPEED DOWNHOLE DATA*

“OMNI-PAD” WALKING SYSTEM

TRANSFER TANK

TWO SPEED DRAWWORKS

DIRECTIONAL GUIDANCE SYSTEM*

(3) 1,600HP 7,500 PSI PUMPS

(4) CAT 3512 GENSETS

INTEGRATED POWER MANAGEMENT SYSTEM

1

1

2 3

4

5

6

7 8

9 11

10

2

3

4

5

6 825,000 LBS HOOKLOAD

7

8

9

10

11 UMBILICALLY CONNECTEDBACKYARD COMPLEX

12

1213

14

13

14

REMOTE OPERATIONS CONTROL CENTER (OPTIMIZATION*)

* Precision Technology Building Blocks

PRECISION SUPER TRIPLE

PRECISION IS A RIG TECHNOLOGY LEADER

29| 29|

Precision’s Balance Sheet Management

NO MATURITIES UNTIL DECEMBER 2021

SENIOR DEBT MATURITY PROFILE1

$661

$65

(in $ millions)

US$66

US$345

US$303

US$368

20202019 20242021 20252022 2023 2026

5.25%7.75%

6.5%

7.125%

▪ 6.5% Senior Notes due December 15, 2021

▪ 7.75% Senior Notes due December 15, 2023

▪ 5.25% Senior Notes due November 15, 2024

▪ 7.125% Senior Notes due January 15, 2026

AVERAGE COST OF DEBT OF 6.75%

As of March 31, 2020.

30| 30|

Revenue and Cash Flow Visibility and Stability

TOP 50 CUSTOMERS1

PUBLIC

58%

CONTRACT BOOK2

CUSTOMER BASE

1. Includes Canada, U.S. and International operations based on % of revenue (2019) – Top 50 rankings.2. Contract book as of 03/31/2020.

PRIVATE

30%

NATIONALOIL COMPANIES

17%

PREDICTABLE CASH FLOWS - ADDED 9 CONTRACTS SINCE Q4 2019 REPORT

HIGH-EFFICIENCY DEVELPMENT DRILLING FOR PUBLIC, LARGE PRIVATE AND NATIONAL OIL COMPANIES

7

30

5

2020 Avg.As of 03/31/2020

Canada U.S. International

42

31| 31|

U.S. Market Share Transition

1. Top 5 Drillers Includes H&P, Patterson, Nabors, Precision, & Ensign. Acquired companies only included in count post transaction. Individual peer activity provided by RigData. Industry total averages provided by Baker Hughes. 2020 as of week ending June 26, 2020.

42% 42%46%

52%

57%

62% 63%

58% 58%

54%

48%

43%

38%37%

20%

40%

60%

80%

2014 2015 2016 2017 2018 2019 Current

U.S

. MA

RK

ET S

HA

RE

Top 5 Drillers Other Drillers

CUSTOMER DEMAND FOR HIGH-EFFICIENCY RIGS

32|

Systems & Scale

Supply Chain Management

▪ Cost Savings▪ Vendor Management▪ Centralized Support

Manufacturing + Capital Projects

▪ Engineering▪ Project Management▪ Equipment Manufacturing

Technical Support Centres

▪ Asset Integrity▪ Maintenance Standard▪ In House Repair & Rebuild

IT Infrastructure and ERP

▪ Supports Increased Data Flows▪ Operating Efficiencies▪ Fixed Cost Leverage

DRIVING OPERATIONAL EXCELLENCE AND LOWER COSTS

33| 33|

Precision’s Super Series Investments Driving U.S. Market Share Gains1

>67 NEW BUILDS/ MAJOR UPGRADES IN U.S. MARKET SINCE 2012

AVERAGED 73 ACTIVE RIGS IN 2019

4.0%

4.5%

5.0%

5.5%

6.0%

6.5%

7.0%

7.5%

8.0%

8.5%

0

10

20

30

40

50

60

70

2012 2013 2014 2015 2016 2017 2018 2019

U.S

. Mar

ket

Shar

e

Cu

mu

lati

ve N

ew

Bu

ilds/

Maj

or

Up

grad

es

Cumulative New Builds/Major Upgrades Since 2012 U.S. Market Share

1. Annual market shares represent yearly average Precision rig count divided by industry rig count – industry data provided by Baker Hughes.

34| 3434|

0

50

100

150

200

250

300

350

400

Jan

uar

y

Feb

ruar

y

Mar

ch

Ap

ril

May

Jun

e

July

Au

gust

Sep

tem

be

r

Oct

ob

er

No

vem

be

r

De

cem

ber

2016

2017

2018

2019

2020

Historical North American Drilling Activity

U.S. LAND RIG COUNT15 YEAR HISTORY

CANADIAN LAND RIG COUNT5 YEAR HISTORY

Source: Baker Hughes land rig count as of June 26, 2020

1,8042014 Average

Active Rigs

4862016 Average

Active Rigs

9202019 Average

Active Rigs

3782014 Average

Active Rigs

1352019 Average

Active Rigs

0

200

400

600

800

1000

1200

1400

1600

1800

2000

2005 2006 2008 2010 2012 2014 2016 2018 2020

35| 35|

Current State – Wide Dispersion of Well Results

▪ Currently wide ranging days to drill

▪ Automation tightens the range and reduces overall drill times

▪ For PD – strong utilization, incremental revenue and competitive advantage