Calfrac Well Services is well equipped to offer a number of services, products, and equipment to companies in the oil and gas industry. The company's oil field services include cementing (to seal well casing), coiled tubing, acidizing, fracturing (breaking up formations, to allow better oil flow), and well stimulation services. Fracturing services accounts for the bulk of its revenue. It serves more than 200 customers primarily in western Canada and the Rocky Mountain region of the US. It also operates in Argentina, Mexico, and Russia. In 2008 the company was operating 26 fracturing systems, 18 coiled tubing units, and 18 cementing units.
Calfrac Well Services' equipment and services cater to companies seeking to exploit complex and expensive-to-drill shale and tight sand reservoirs, such as the Bakken Shale play in North America (which has attracted a number of oil companies in recent years). Beefing up its portfolio to meet customer demand, in 2008 the company added 45,000 horsepower of pressure pumping capacity and upgraded its fracturing equipment. Further expanding its fracturing assets in Canada, in 2009 it acquired Century Oilfield Services for $90 million.
The company has supplemented its North America operations with international growth. It offers its specialized oil services in Russia (beginning in 2005), Mexico (2007) and Argentina (2008).
In 2004 Calfrac Well Services acquired Denison Energy in 2004 and became a publicly-traded company shortly thereafter. The company was founded in 1999. – less
8 salaries reported
$87,456 per year
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$120,526 per year
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$92,954 per year