Calfrac Enters Russian Well Service Market
Calfrac Well Services
Calfrac Well Services has entered into long-term contracts for the
supply of two Deep Coiled Tubing Units including nitrogen and fluid pumping
together with related well service equipment. These units are destined for
Western Siberia to be put into field service prior to the end of the third
quarter of 2005. This equipment will be supplied from Calfrac's current
Canadian operating fleet and will be retrofitted for Russian operations.
Calfrac intends to replace these units in Canada with newly manufactured units
which are included in its 2005 Capital Program (previously announced on
May 12, 2005). These replacement units are expected to be in service in Canada
in October of this year.
Calfrac's intention is to continue to review other long term supply based opportunities from its Moscow Region Headquarters with the mandate to expand its Russian operation into Calfrac's other service lines including fracturing, acidizing and cementing and to diversify its customer base.
Calfrac is fortunate to have senior executives and management with a great deal of Russian well service industry experience earned from their association and employment with service companies with long and successful involvement in the Russian well service market. As a result Calfrac believes that it is well positioned to effectively and profitably operate and grow in this market.
RELATED COMPANIES
Most Popular Articles
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally