Corporate Overview Presentation
January 2016
FRACTURING ACIDIZING COILED TUBING CEMENTING

DISCLAIMER
This document and statements made in conjunction with this document may contain certain forwardlooking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "guidance", "objective", "ongoing", "may", "will",
"project", "should", "believe", "plans", "intends", "budget", "strategy" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this document contains forward-looking information and statements pertaining to the following: future oil and natural gas prices; future results from operations; future liquidity and financial capacity and financial resources; future costs, expenses and royalty rates; future interest costs; future capital expenditures; future capital structure and expansion; the making and timing of future regulatory filings; and the Company's ongoing relationship with major customers.
The forward-looking information and statements included in this document are not guarantees of future performance and should not be unduly relied upon. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements including, without limitation those risks detailed from time to time in the Company's public disclosure documents
(including, without limitation, those risks identified in the Company's Annual Information Form). The
Company believes the material factors, expectations and assumptions reflected in the forward-looking information and statements are reasonable but no assurance can be given that these factors, expectations and assumptions will prove to be correct.
The forward-looking information and statements contained in this document speak only as of the date of this document, and none of the Company or its subsidiaries assumes any obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.
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Corporate Overview
Company Summary
Canyon provides well stimulation services throughout the WCSB:
 Hydraulic fracturing
 High-rate nitrogen fracturing
 Coiled tubing
 Chemical stimulation
 Remedial and primary cementing
 Full service fluid management & hauling services
Focused on Canada
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Corporate Overview
Equity Capitalization
 69.1 million common shares
 4.4 million options and stock based compensation units
 ~$0.3 billion market capitalization
 Average trading volume of ~250k shares/day
 $0.12 dividend per annum, (payable quarterly)
Debt Capacity:
 $100 million committed facility plus $50 million accordion, with 3 member bank syndicate led by CIBC
 ~$65 million, net of cash drawn at September 30
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Evolution of Canyon
Oil price collapse and associated drilling activity declines
 Tough pricing environment
 Better labour and supplier environment
Provincial & Federal Government changes
 Impact unknown
The WCSB assets and capex controlled by the seniors and multi-nationals
 Leads to better visibility
Basin has been polarized into the Montney / Duvernay and Saskatchewan light oil
Canyon is prepared for both a recovery and an extended downturn
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Evolution of Canyon
Control costs and financial leverage
Focus on core customers
 Offer integrated fluid management services
Reorganization / optimization of certain business processes
 Permanent structural changes vs. temporary cost reductions
 Complete Shift to Variable Pay
 LEAN
Equipment design evolution
 Opportunities for significant efficiencies / cost savings
Expand Saskatchewan market share
 Potential to expand service offerings
Acquisitions
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Evolution of Canyon
Goal to build a bigger company
Canada focus
Explore all services lines
 ROIC focus
 Looking at both large and small
Similar approach to cost control
Variable cost base
Fund with equity if possible
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Evolution of Canyon
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Trends in Pressure Pumping
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Trends in Pressure Pumping
Fresh Water Access
Water Disposal Water and Fluid
Hauling
Water and Fluid
Hauling
Water Treatment &
Recycling
Produced Water
Storage
Other Services
Fraction
Pipeline Transfer of
Source fluid
Wellsite / Area
Temporary Storage
Fluid Heating
Flowback Transfer Flowback Temporary
Storage
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Trends in Pressure Pumping
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Trends in Pressure Pumping
75% of wells drilled Hz with multistage fracturing designs
Fracturing intensity increasing
 Hz sections continue to lengthen
Sand Logistics
 Frac density / stages per well still growing
Tight oil transitioning to slickwater treatments
Multi well pads operating 24hrs
Need to actively manage supply inputs
 Labour, sand and chemicals
Fluid management becoming a key component to execution
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Trends in Pressure Pumping
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Trends in Pressure Pumping
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Trends in Pressure Pumping
CnF ® Droplet
Solvent Core
CnF ® Droplet in formation
Demulsifier
&
Wetting Agent
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300 nm

LNG Exports
Export capacity and potential drilling demand:
 19 facilities proposed for the west coast of Canada plus 2 more on US west coast
 20 – 40 bcf/d of export capacity proposed
 20 – 25 year terms
 Approx. 150 wells/year per 1.0 bcf/d of production required
Plays to be impacted near term:
 Montney
 Duvernay
Frac equipment required
 30,000 – 45,000 HHP per well on location for up to a week
 20 – 40 fracs per well
 150,000 – 175,000 HHP fully utilized per 1.0 bcf/d exported
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LNG Exports
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LNG Exports
Risks:
 Government & First Nations
 Timing and approvals
 Off-take agreements
 Labour inflation
 Sand logistics
 US competition
 Increased regulations
Opportunities
 Term of contracts
 Utilization and pricing stability
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Investment Highlights
Growth decisions based on ROIC
WCSB pressure pumping market has the best near-term fundamentals
>85% of revenue generated from the deep basin
Committed to growth per share in each of assets, cash flow, earnings and dividends
Expanding our market share in ancillary services
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