Essential Energy Services Ltd. (“Essential”) provides oilfield services to oil and gas producers in western Canada and Colombia related to the ongoing servicing of producing wells and new drilling activity. Services are provided through its Well Servicing and Downhole Services & Rentals divisions.
On May 31, 2011, Essential acquired Technicoil Corporation, an oil and natural gas services company in western Canada with service rigs, coil tubing rigs, fluid pumpers and hybrid drilling rigs. The acquisition strengthens Essential's position in coil tubing well service and increases its service rig fleet and geographic footprint.
The Well Servicing division provides well completion and production / workover services across western Canada. Including the service rigs acquired with Technicoil, this division has 59 service rigs and 17 rod rigs, which are generally light, hydraulic service rigs. Essential also has 51 coil tubing rigs including deep, intermediate and shallow rigs. This is the largest coil tubing well service fleet in Canada. The coil tubing fleet is supported by 12 nitrogen pumpers and 15 fluid 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 commenced operations in Colombia in the second quarter of 2011 to service producing wells and new drilling activity. For further information see the Colombia section.
Essential trades on the Toronto Stock Exchange under the symbol ESN.
