Monday, September 13, 2010 8:12:09 PM
Essential Energy Services Ltd.
Essential Energy Services Ltd. provides oilfield services to oil and gas producers in western Canada related to the ongoing servicing of producing wells and new drilling activity. Services are provided through its Well Servicing and Downhole Services & Rentals divisions.
The Well Servicing division provides well completion and production / workover services across western Canada. This division has 51 service rigs, ranking it as the sixth largest service rig operator in Canada, and 23 rod rigs, which are generally light, hydraulic service rigs. Essential also has 32 coil tubing rigs including 1 deep coil tubing rig, 11 intermediate rigs and 20 shallow rigs. This is the largest coil tubing well service fleet in Canada. The coil tubing fleet is supported by 10 nitrogen pumpers.
The Downhole Services & Rentals division provides a variety of services to assist with the drilling, completion and production phases of oil and natural gas wells. Through this division Essential sells and services a full range of downhole tools including multi-stage fracturing services and offers rental equipment. Multi-stage fracturing allows customers to isolate and fracture multiples zones in a horizontal well within a single tool run. Essential provides slickline, perforating and logging services with 20 wireline trucks.
Essential has a strong balance sheet with no long-term debt outstanding at March 31, 2010 which positions it well to deal with any industry uncertainties and allows it to respond quickly to growth opportunities.
Essential Energy Services Ltd. - 5 Year Chart
Essential Energy Services Ltd. - 3 Year Chart
Essential Energy Services Ltd. - 1 Year Chart
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