Calfrac Well Services
 |
|
| Public | |
| Traded as | : CFW |
| Industry | Oilfield Services |
| Founded | 1999 |
| Headquarters | Calgary, Alberta. |
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Key people
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Chairman: Ronald P. Mathison James S. Blair Gregory S. Fletcher Martin Lambert Paul F. Little Douglas R. Ramsay R. Timothy Swinton |
| Products | Oil field services |
| Revenue |
 460 million USD (2007) |
 39 million USD (2007) |
|
|
Number of employees
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1,500 (2008) |
| Website | www.calfrac.com |
Calfrac Well Services Ltd. is an oilfield services corporation operating in Western Canada, Colorado, North Dakota, Arkansas, Pennsylvania, Western Siberia, and South America, and Texas with more than 4000 employees. Calfrac supplies a wide range of products and services from hydraulic fracturing, coiled tubing, well cementing and other well stimulation services.
Operating revenue in 2005 was CDN$314MM with a market capitalization of CDN$1.4bn. Since then, Calfrac has become one of the largest frac service companies in Canada, and is growing internationally through strategic acquisitions.
Calfrac Well Servicing 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 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.
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