High Arctic Energy Services is the latest western Canadian oilfield services company to step out into the busier United States market.
The company announced this week that it has acquired all of the shares of Powerstroke Well Control for $9.4 million, increasing its service rig count to 58.
Powerstroke is headquartered in Grande Prairie and has offices in Greeley, Colorado and Williston, North Dakota. High Arctic says that from these locations it has been successfully offering snubbing service and well services to companies operating in North Dakota’s Bakken play and Colorado’s Niobrara Basin.
High Arctic says that it plans to expand its well service offering in the United States.
“The trend toward longer well bores and increased number of stages in each well bore has increased the demand for pressure control equipment required for well completions. After the acquisition High Arctic will own 17 snubbing units, making it the largest snubbing operator in Canada. Of the total fleet of 17 snubbing units it is planned that eight units will be marketed in the United States, initially focused on well service and completion work in the Niobrara and the Bakken,” the company said in a statement.