Calfrac Well Services Profile
Calfrac Well Services Ltd. operates as an independent provider of specialized oilfield services worldwide.
The company provides hydraulic fracturing, coiled tubing, cementing and other well stimulation services, which are designed to increase the production of hydrocarbons from wells. The company’s operations are focused in Canada, the United States, Argentina, and Russia.
Based on horsepower (HP), the company is a hydraulic fracturing company in the world with a combined fleet as of December 31, 2019 of approximately 1,410,000 HP. In addition, the company had 28 coiled tubing units and 19 cementing units.
Services
The company’s business includes the following service lines:
Fracturing Services
The principal focus of the company’s business is the provision of hydraulic fracturing services to oil and natural gas exploration and production companies.
The company is a service provider in various plays in Alberta, northeast British Columbia, Manitoba, Saskatchewan, Colorado, North Dakota, Montana, Wyoming, Utah, Ohio, Pennsylvania, West Virginia, Texas and New Mexico by offering equipment, technology solutions and trained personnel to execute these difficult projects.
The company provides hydraulic fracturing by pumping a viscous fluid with suspended proppant through the wellbore and into the reservoir zone being stimulated. The pumping pressure causes the zone to fracture and accept the fluid and proppant.
The company’s engineering and asset enhancement teams provide technical evaluation and job design recommendations as an integral component of its fracturing service to the customer. Hydraulic fracturing services involve the use of equipment primarily designed and constructed for hydraulic fracturing.
Coiled Tubing Services
The company provides coiled tubing services by running tubing into wells to perform various well servicing operations. Coiled tubing units are used together with the appropriate support equipment to pump nitrogen, acid or other fluids into wells to remove unwanted corrosive acids, solids, gels and fluids from the wellbore and producing zone. Coiled tubing units could also be used to set and remove tools, perform well abandonments and set siphon or velocity strings, which promote the production of oil and natural gas without the accumulation of fluid in the wellbore. Coiled tubing remains the preferred completion tool for drilling out composite plugs and ball seats in horizontal wells after multi-stage fracturing jobs.
The company has developed equipment and treating procedures required to complete coiled tubing assignments, from shallow oil and natural gas operations to various horizontal wells.
As of December 31, 2019, the company had 1 coiled tubing unit in the United States, which is idled; 14 coiled tubing units in Canada, of which 11 are active and 3 have been idled; 6 coiled tubing units in Argentina, all of which are active; and 7 coiled tubing units in Russia, of which 3 are active and 4 have been idled.
Cementing Services
As of December 31, 2019, the company had 5 cementing units in the United States, all of which have been idled; and 14 cementing units in Argentina, of which 13 are active and one has been idled.
Business Strategy
The company’s strategy is to safely provide the highest degree of expertise and service; expand the company’s North American footprint and network; focus on advanced technologies and chemistries; and commitment to quality.
Customers
The company’s customer base consists of approximately 135 oil and natural gas exploration and production companies, ranging from large multi-national public companies and national oil and gas companies to small private companies. The company enjoys relationships with its customers, consisted of a balanced mix of large, intermediate and small oil and natural gas exploration and production companies, and count amongst its client base majority of the active exploration and production companies in the countries in which it operates.
Intellectual Property
The company has eight issued patents in respect of treatment fluids and treatment methods, as well as a couple of pending patent applications.
History
Calfrac Well Services Ltd. was founded in 1999. The company was incorporated in 1999.
