Calgary, AB (April 8, 2015) – STEP Energy Services Ltd. (“STEP” or “the Corporation”) is pleased to announce that the Corporation has acquired fracturing and related assets, and intellectual property of GASFRAC Energy Services Inc. (“GASFRAC”). The acquisition will add 115,000 pressure pumping horsepower to STEP’s current service lines. STEP plans to commence conventional fracturing operations in Canada later in 2015.
“This acquisition is timely and opportunistic. It’s logical for STEP to extend its strong service platform into conventional fracturing. We believe our clients will find this service a natural complement to our coiled tubing and pumping services offering,” says Regan Davis, president and chief executive officer.
In addition to the fracturing equipment and the related technology, STEP acquired operating bases in Edson and Red Deer, Alberta, and Floresville, Texas.