Calfrac Well Services: Difference between revisions

Calfrac Well Services Ltd.
Company type	Public
Traded as	TSX: CFW
Industry	Oilfield Services
Founded	1999
Headquarters	Calgary, Alberta. Denver, Colorado.
Key people	Chief Executive Officer: Pat Powell (From June 3, 2022); Chief Financial Officer: Mike Olinek; Chairman: Ronald P. Mathison; Vice Chairman: Douglas Ramsay; Board of Directors: George Armoyan, Anuroop Duggal, Chetan Mehta, Charles Pellerin, Pat Powell; Divisions: Marco A. Aranguren (Director General, Latin American Operating Division) , Gordon Milgate (President, Canadian Operating Division), Mark D. Rosen (President, U.S. Operating Division)
Products	Oilfield services
Website	www.calfrac.com

Browse history interactively

← Previous edit

Content deleted Content added

VisualWikitext

Inline

Latest revision as of 01:22, 3 August 2024

Calfrac Well Services Ltd. is an oilfield services company operating in Canada, the United States, and Argentina. Services include hydraulic fracturing, coiled tubing, cementing and other well stimulation techniques designed to help increase the production of oil and natural gas.

History

Calfrac Well Services 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 and started offering fracturing services through a field office in Platteville, Colorado. Calfrac continued to construct more fracturing spreads in 2002 and 2003, and had nine complete spreads by the start of 2004, where it became a publicly traded company on the Toronto Stock Exchange (TSX). In addition to building fracturing spreads in 2003, CWS also purchased four shallow coiled tubing units from private companies to increase its fleet of coiled tubing units to eight.

In 2007, Calfrac entered the Latin American market. Between 2007 and 2013, the company continued to expand through organic growth and strategic acquisitions with 1 million horsepower.

In 2015, Calfrac became the first pressure pumping company to receive the American Petroleum Institute's (API) Specification Q2. Between 2015 and 2016, seven North American locations become certified under API Q2.

By 2018, Calfrac had pumped 3.9 million tons of proppant with 1.2 million horsepower across North American fracturing fleets. In 2017, Calfrac commenced operations in the Permian Basin with a base in Artesia, NM. In 2018, Calfrac opened a full service technology center in Houston, TX, the Grande Prairie, Alberta location became certified under API Q2.

Between 2019 and 2021, Calfrac was awarded Top Vendor of the Year by a leading independent natural gas and NGL producer for the second consecutive year (2019), along with a consolidated U.S. operating presence into Rockies and Marcellus. In 2021, Calfrac ended the year with Total Recordable Incident Frequency (TRIF) at 1.10 and the United States Division ends the year with TRIF at 0.62.

In June 2022, Pat Powell becomes Calfrac Well Services Chief Executive Officer (CEO) and updates brand promise to, "Do it Safely, Do it Right, Do it Profitably". Additionally, Calfrac grew active large fracturing fleet count from 13 to 15, with 6 coiled tubing units.

Into 2023, Calfrac continues to grow and excel in the oilfield services industry with fleet modernization program, deploying Tier IV DGB fracturing pumps into North America, with more coming in 2024. Additional new technology investments and asset enhancement commencing in 2023 and into 2024.

References

External links

@@ Line 1: / Line 1: @@
+{{Short description|Oilfield services company}}
-{{Infobox Company |
-  company_name   = Calfrac Well Services Ltd. |
+{{Unsourced|date=September 2018}}
-  company_logo   = [[File:Calfrac Logo.svg|250px|]] |
+{{Infobox company
-  company_type   = Public ({{tsx|CFW}})|
+| name = Calfrac Well Services Ltd.
-  foundation     = 1999 |
+| logo = Calfrac Primary Logo.png
-  location       = [[Calgary]], [[Alberta]]. |
+| type = Public
-  key_people     =
+| traded_as = {{tsx|CFW}}
-[[Chairman]]: Ronald P. Mathison<br>James S. Blair<br>Gregory S. Fletcher<br>Martin Lambert<br>Paul F. Little<br>Douglas R. Ramsay<br>R. Timothy Swinton|
+| industry = Oilfield Services
-  num_employees  = 1,500 (2008)<ref name=zenobank>{{cite web |url=http://zenobank.com/index.php?symbol=CA;CFW&page=quotesearch|title=Company Profile for Calfrac Well Services Ltd (CA;CFW) |accessdate=2008-10-07}}</ref>|
+| foundation = 1999
-  industry       = Oilfield Services |
+| location = [[Calgary]], [[Alberta]].
-  revenue        = {{increase}}460 million USD (2007)<ref name=zenobank/>|
+[[Denver]], [[Colorado]].
-  net_income     = {{decrease}}39 million USD (2007)<ref name=zenobank/>|
+| key_people = [[Chief Executive Officer]]: Pat Powell (From June 3, 2022)<br>[[Chief Financial Officer]]: Mike Olinek<br>[[Chairman]]: Ronald P. Mathison<br>[[Vice Chairman]]: Douglas Ramsay<br>[[Board of Directors]]: George Armoyan, Anuroop Duggal, Chetan Mehta, Charles Pellerin, Pat Powell<br>[[Division (business)|Divisions]]: Marco A. Aranguren (Director General, Latin American Operating Division) , Gordon Milgate (President, Canadian Operating Division), Mark D. Rosen (President, U.S. Operating Division)
-  market cap     = 569 million USD (2008)<ref name=zenobank/>|
-  products       = Oil field services |
+| products = Oilfield services
+| revenue =
-  homepage       = [http://www.calfrac.com/ www.calfrac.com]
+| net_income =
+| num_employees =
+| market cap =
+| homepage = [http://www.calfrac.com/ www.calfrac.com]
 }}
-'''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.
+'''Calfrac Well Services Ltd.''' is an [[oilfield]] services company operating in Canada, the United States, and Argentina. Services include [[hydraulic fracturing]], coiled tubing, cementing and other well stimulation techniques designed to help increase the [[Extraction of petroleum|production of oil and natural gas]].
-== 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 [[privately held company|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.
+Calfrac Well Services [[Ltd.]] (CWS) was '''founded in June 1999''' as a [[privately held company|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]]''' and started offering fracturing services through a field office in [[Platteville, Colorado|Platteville]], [[Colorado]]. Calfrac continued to construct more fracturing spreads in 2002 and 2003, and had nine complete spreads by the start of '''2004, where it became a publicly traded company on the [[Toronto Stock Exchange|Toronto Stock Exchange (TSX)]].''' In addition to building fracturing spreads in 2003, CWS also purchased four shallow coiled tubing units from private companies to increase its fleet of coiled tubing units to eight.
+'''In 2007, Calfrac entered the Latin American market.''' Between 2007 and 2013, the company continued to expand through organic growth and strategic acquisitions with 1 million horsepower.
+In 2015, Calfrac '''became the first pressure pumping company to receive the [[American Petroleum Institute|American Petroleum Institute's (API) Specification Q2]].''' Between 2015 and 2016, seven North American locations become certified under API Q2.
+By 2018, Calfrac had pumped 3.9 million tons of proppant with '''1.2 million horsepower across North American fracturing fleets.''' In 2017, Calfrac commenced operations in the [[Permian Basin (North America)|Permian Basin]] with a base in [[Artesia, New Mexico|Artesia, NM]]. In 2018, Calfrac opened a full service technology center in [[Houston|Houston, TX]], the [[Grande Prairie|Grande Prairie, Alberta]] location became certified under API Q2.
+Between 2019 and 2021, Calfrac was awarded Top Vendor of the Year by a leading independent natural gas and NGL producer for the second consecutive year (2019), along with a consolidated U.S. operating presence into [[Rocky Mountains|Rockies]] and [[Marcellus Formation|Marcellus]]. In 2021, '''Calfrac ended the year with Total Recordable Incident Frequency (TRIF) at 1.10 and the United States Division ends the year with TRIF at 0.62.'''
-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 building fracturing spreads in 2003, CWS also purchased four shallow coiled tubing units from private companies to increase its fleet of coiled tubing units to eight.
+In June 2022, Pat Powell becomes Calfrac Well Services [[Chief executive officer|Chief Executive Officer (CEO)]] and '''updates brand promise to, "Do it Safely, Do it Right, Do it Profitably"'''. Additionally, Calfrac grew active large fracturing fleet count from 13 to 15, with 6 coiled tubing units.
-In March 2004 Denison Energy Inc. reorganized and transferred all material assets to Denison Mines Inc. and Denison Oil Corporation (parent of Denison Resources Inc.), leaving income tax attributes and the purchase option agreement among Calfrac, Matco Investments (on behalf of itself and the other [[shareholders]] of Calfrac) and Denison Energy Inc. granting an irrevocable option to Denison Energy Inc. to purchase all of the issued and outstanding [[Share (finance)|shares]] of Calfrac for an aggregate purchase price of approximately CDN$227.5 million less the net debt of Calfrac of approximately CDN$83.6 million.  Denison Energy Inc. then de-incorporated from Ontario, and incorporated within Alberta.  Following this, Matco Investments acquired class A [[common shares]] from the treasury (representing 45% of the total number of issued and [[outstanding shares|outstanding]] class A common shares).  Denison Energy Inc. then [[Consolidation (business)|amalgamated]] with Calfrac and changed its name to Calfrac Well Services Ltd.
+Into 2023, Calfrac continues to grow and excel in the oilfield services industry with fleet modernization program, '''deploying Tier IV DGB fracturing pumps into North America, with more coming in 2024.''' Additional new technology investments and asset enhancement commencing in 2023 and into 2024.
-The original founders of CWS remained with Calfrac, and form part of the current Board of Directors.
 ==See also==
 *[[List of oilfield service companies]]
+*http://www.calfrac.com/
+*Calfrac Instagram: https://www.instagram.com/calfracwellservices/
+*Calfrac LinkedIn: https://www.linkedin.com/company/calfrac-well-services/
+*Calfrac Twitter: https://twitter.com/CalfracWS
 == References ==
@@ Line 39: / Line 51: @@
 ==External links==
 *[http://www.calfrac.com/ Calfrac Well Services Ltd.]
+*https://calfrac.com/Careers/
-*[http://www.sedar.com/ System for Electronic Document Analysis and Retrieval (SEDAR)]
+*https://investors.calfrac.com/
 *[http://ca.finance.yahoo.com/q?s=CFW.TO&m=c Yahoo! - Summary of Calfrac Well Services Ltd.]
+[[Category:Companies listed on the Toronto Stock Exchange]]
 [[Category:Oilfield services companies]]
 [[Category:Companies based in Calgary]]
-[[Category:S&P/TSX Composite Index]]
+[[Category:Engineering companies of Canada]]