Calgary, AB (January 11, 2016) – Alberta Venture’s annual list of “Fast Growth 50” companies has been released and, for the second year running, STEP Energy Services is ranked as the second fastest growing company in the province.
“To be a part of a list that includes growing companies, let alone a second place ranking among the fastest growing companies in Alberta, is an achievement we are very proud of,” says Regan Davis, president and chief executive officer.
Earlier in 2015, STEP purchased the assets of a failed fracturing service company representing 115,000 pressure pumping horsepower. STEP converted those assets into a conventional hydraulic fracturing fleet and performed its first project in October of 2015. Also in 2015, STEP successfully expanded its coiled tubing service line into the Eagle Ford, a shale formation in south Texas, and has committed additional expansion capital to this region for 2016.
“Ensuring the health of our organization during this downturn is our primary priority,” adds Davis. “Over the last four years, we have solidified our place in the market by satisfying a need created by the extended reach horizontal well market with our fit-for-purpose equipment and client service operating model. Our strategic activities in 2015 provided us the foundation for growth during this downturn and position us well to participate in the industry recovery,”
For the past 15 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.