STEP Energy Services Breakout Notes

Regan Davis, president and CEO of STEP Energy Services, (ticker: STEP) presented today at EnerCom’s The Oil & Gas Conference® 22.

STEP is an oil and gas service company based in Calgary, Alberta. Its initial business focus was in coiled tubing, but expanded to provide a diverse set of oilfield services.

During the company’s breakout session, management was asked the following questions:

  • What are the companies looking like now, 12 months from now, and 12 months into the future?
  • What kind of shift hours are on the frac jobs?
  • How much frac horsepower is sitting idle on a pad versus how much is being used?
  • How much of sand goes into wells that are vertical vs horizontal?
  • Is leakage of about 30% correct?
  • How do go from 12-24 hour shifts?
  • What do you think Canadian business looks like in three to five years?
  • Rule of thumb on frac intensity for Canada versus US?
  • What % of sand is coming from Wisconsin and Illinois?
  • What is the mesh size of the frac sand?
  • Do you desire to frac in the US?
  • Could you walk through what made you want to use coil tubing in the US?
  • If frac pricing stays flat, how much could your designs improve based on efficiencies?
  • What is the reason for the increase in horsepower needed for Canadian frac jobs?
  • Are Canadian reservoirs as harsh on equipment compared to the Bakken?
  • Can you talk about depreciation rates?
  • How difficult is it to find labor for the new frac jobs?

STEP presented at EnerCom’s 2017 The Oil & Gas Conference®.

You can listen to the company’s presentation by clicking here.

You can view the company’s Q2 update by clicking here.

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