Calgary, AB (January 18, 2017)– STEP Energy Services Ltd. (STEP) once again placed in Alberta Venture’s Fast Growth 50 list, this time ranking as number 17 for the 2016 year.
“Given the industry climate, to be the only oilfield service company on the list this year is something we are very proud of,” says Regan Davis, president and chief executive officer.
In April 2016, STEP announced that it entered into a definitive agreement to acquire the Canadian pressure pumping assets of Sanjel Corporation (“Sanjel”). The acquisition added 165,000 pressure pumping horsepower, positioning STEP as the largest private completion services company in Western Canada.
STEP also experienced enormous human talent growth; at the end of 2015, there were only 434 professionals on pay roll but by the end of 2016, there were over 700.
“STEP has been able to capitalize on opportunities in a market that was not very forgiving. To be able to grow our employee base and reduce the negative impact of this down turn on hundreds of families is very satisfying. 2017 looks to be another year full of opportunity for us, as we are positioned to participate in the industry recovery,” says Davis.
For the past 16 years, the Fast Growth 50 program has been the most prominent ranking of Albertan businesses with significant growth in revenue, assets, capital expenditures and employees over a three-year period. Produced by Alberta Venture magazine, this program is one of the most recognized business rankings in the province. To view the full 2017 list, click here.
OGM Safety Record Winner
STEP was also named as the safety record winner by The OGM Safety Awards. Read the full article here. Award criterion was based on safety record, safety culture, safety commitment, safety innovation and safety results.
About the OGM: The OGM is inspired and advanced by respected leaders of innovation, vision, a vast consciousness of the energy industry and the ongoing intricacies of global business influencers.