Company Highlights

June 18, 2012

STEP Energy Services Takes Possession of 1st Coiled Tubing Mast Unit

Calgary, AB (June 18, 2012) – On June 16, 2012, STEP Energy Services took possession of their 1st Coiled Tubing Mast Unit from Surefire Industries.  Bailey Epp, STEP’s President, said “taking delivery of our first unit is a monumental day for STEP Energy Services.  It shows the culmination of everyone’s efforts over the past year, from design and engineering through the entire fabrication and manufacturing process.”  Epp added “our Coiled Tubing units and reel capacities will allow E&P companies to better service their technically advanced horizontal wells.”

This mast unit is the first of twelve coiled tubing units in STEP’s capital build program.  The remaining eleven units are scheduled for manufacturing and delivery over the next 18 months.  STEP’s purpose-built coiled tubing mast units are designed for 50.8mm to 73.0mm OD tubing with lengths that service the extended reach challenges of today’s horizontal wellbore.  The mast units are designed to service wellbores greater than 4000m and can extend to over 6000m with the advanced engineered string design and inventory.

Steve Glanville, COO at STEP, states “industry response to the delivery of our first unit has been extremely positive, we have had requests from several large E&P companies to secure our mast units with long-term contracts,” Steve added “the response re-confirms our decision to establish and build a different type of coiled tubing company that is focused on servicing technically advanced wells while providing an exceptional client experience.”