A lot of what we are going to talk about are the drivers for our business, those are resource development in both Canada and Australia, investments in global deepwater infrastructure on a global basis, also drilling and completion activity in North America, and as a company a lot of time we look for things that differentiate our products and services.One thing that we think is a differentiator for our company is that 64% of our EBITDA comes from Accommodations and Offshore Products, both of those businesses have very good visibility going into 2012. We summarized our EBITDA contribution by each of these four business segments. As you can see Accommodations represented 50% of our contribution, Offshore Products is 14%, again those combined for the 64% with very good visibility going into 2012. The balance comes from Well Site Services and Tubular Services segment, both tied to North American drilling and completion activity. This is kind of a complicated slide, but what we are trying to demonstrate, if you look at the far right, we have a much greater relative contribution coming from Accommodations and also our Offshore Products business. We had significant volatility in 2009 with the global financial crisis that really hit. The red bar’s which is our North American expose businesses. You can see a fairly significant recovery in 2009 and ’10, but particularly trailing 12-basis you can see that exceeding good results really on all business lines. We are heavily focused on returns on invested capital. We stole a slide from some other credit suite report. This gives you the quarterly annualized return on invested capital, again a very position trend over the last five quarters. Just to give you an update on the areas that we focus on. We’ve delivered a lot of organic growth in both Australia and Canada. We’ve got two new sites in Australia, our Calliope village is exposed to the Gladstone LNG area, and the Karratha new village is going to be up by first or second quarter this year, and it’s exposed to that Northwest shelf both LNG and Iron Ore.
We are also planning expansions in Canada and a lot of people and a lot of people have asked us, we have Accommodations in the lower 48 and we will be growing that as well.In our Offshore Products segment, we have record backlog level and we are focusing on international growth prospects particularly in Brazil, West Africa, Southeast Asia and Australia. Lastly, our completion and production services activity impact Well Site Services and our Tubular Services segment. Here we’ve got a very high-end product offering, we are in all the major shale play regions and we do plan to continue to spend organic capital to grow this business line. It will be on the backdrop of rig count and overall activity. We expect to see declines in obviously dry gas rig count but offset by improvement, and the oil and liquid rich basin also we expect some improvements in the Gulf of Mexico as well. I’m going to spend some time on the Accommodations business. Here we are an integrated remote site Accommodations provider. We have around engineering staff. We do our own in-house manufacturing, site preparation, installation work. We hold a large suite of assets for rental and deployment and we also do the long-term catering and facilities management. Just to give you an overview, we’ve got seven major lodges strategically located in the Canadian oil sands region, supporting both mining activity and SAGD activity. We have nine villages deployed now in Australia. It covers a pretty broad basis. The legacy operations were large tied to Metco Mining. A lot of the future growth, again, I mentioned both Karratha and Calliope is going to expose, be exposed to LNG and Iron Ore going forward. In North America, we have selected assets, I would say deployed in the both the Canadian Bakken and the U.S. Bakken. We are getting some foot-holes in the Eagle Ford and we have a legacy operation in the Fayetteville. There is a lot of demand, a lot of shortages. We will likely be growing this operation as well. Read the rest of this transcript for free on seekingalpha.com