FINANCIAL AND OPERATIONAL HIGHLIGHTS FOR THE FIRST QUARTER
ENDED MARCH 31, 2015

During the first quarter of 2015, oil and gas producers continued to reduce capital spending and budgets in response to the decline in crude oil and natural gas prices. First quarter drilling activity peaked in January with the active rig count continually declining throughout the quarter. In addition, spring break-up conditions occurred in early March, significantly shortening the typical length of the winter drilling season. Overall, these factors led to meters drilled declining by 38% from the first quarter of 2014, which significantly impacted results in the DS division. Accordingly, revenue in the DS division was down 42% as the division faced reduced activity and pricing pressure. However, Secure's overall revenue was only down 17%, as both the PRD and OS division revenue increased over the 2014 comparative period, offsetting the reduced revenue in DS. In the PRD division, approximately 70% of the revenue relates to production activities and are not as directly impacted by the decline in meters drilled. In the OS division, the majority of the revenue relates to project based activities that are also not directly correlated to drilling activities.

Throughout the first quarter Secure was very proactive in working with customers in order to find more efficient ways to manage their fluids and solids through more integrated offerings, volume-based contracts and reducing costs where possible. In conjunction with this process, Secure was also able to reduce the impact on margins across divisions through proactive cost management, streamlining of internal processes and cost savings initiatives where it did not impact safety, operations and environmental performance. This included incurring severance costs associated with reducing the Corporation's workforce by approximately 11% in an effort to eliminate redundant positions or positions significantly impacted by the sharp decline in activity. Secure remains focused on controlling costs while maintaining exceptional customer service.

In March, Secure strengthened its financial position by completing a bought deal equity financing raising gross proceeds of $198.0 million. Secure has consistently applied a disciplined approach to maintaining a strong balance sheet to effectively manage the business through a period of lower commodity pricing and industry activity. The Corporation is well positioned to take advantage of opportunities that may arise as a result of the downturn in the market. Secure is continuing to seek out and evaluate opportunities that will provide meaningful growth for the remainder of 2015, into 2016 and beyond.

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