Calfrac Well Services

Calfrac Well Services

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Calfrac Well Services

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Description:
Calfrac Well Services Ltd. is an oilfield services corporation operating in Western Canada, Colorado,Western Siberia,and Pennsylvania with more than 800 employees. Calfrac supplies a wide range of products and services from hydraulic fracturing, coiled tubing, well cementing and other well stimulation services.

Business

Operating revenue in 2005 was CDN$314,325 with a market capitalization of CDN$1,460,201. Since then has become the largest frac service company in Canada and is growing internationally, buying other companies, and bring in $100 Million+ in revenue a year.

History

Calfrac Well Servicing Ltd. (CWS) was founded in June 1999 as a private corporation by Ronald P. Mathison, Douglas Ramsay, Gordon Dibb, and Robert (Robbie) Roberts. At that time, Calfrac had a single coiled tubing unit and was based in Medicine Hat, Alberta. In December 2000, Calfrac acquired Dynafrac Well Services Ltd. and with it a two-pumper fracturing spread, a shallow coiled tubing unit, a high rate nitrogen pumper and four acid pumpers. By the spring of 2001, Calfrac had acquired and constructed seven fracturing spreads plus other well stimulation equipment.

Early in 2002, CWS expanded to the U.S. Rocky Mountain region by setting up a field office in Platteville, Colorado, and began providing fracturing services in the U.S., mostly to EnCana. Calfrac continued to construct more fracturing spreads in 2002 and 2003, and had nine complete spreads by the start of 2004. In addition to...
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