psac petroleum service news summer 2014

How PSAC became a voice for industry change

SUMMER 2014

2014 Drilling Activity Forecast Update

Recapping the Spring Conference

The merger and acquisitions market heats up

Power Player

PM#40020055

T H E O F F I C I A L V O I C E O F T H E P E T R O L E U M S E R V I C E S A S S O C I AT I O N O F C A N A D A

PSAC_Summer_2014-p01.indd 1 2014-05-16 9:15 AM

TIGHT FIELD MARGINS AND SOARING COSTS.

Where do you go from here?

Your operations personnel are working hard and putting in long hours. You must be making a good profit, right? Not necessarily. Until you understand and control variable expenses on job costs and field margins, you may not realize that although you took the operational risk, you didn’t earn an adequate profit in return. That’s why MNP delivers the in-depth strategies and premium solutions you need to tighten internal controls for job pricing and field margins—so you can get more from your business and increase your bottom line.

Contact David Yager, National Leader, Oilfield Services at 403.648.4188 or [email protected]

000PSN-MNP-FP.indd 1 2014-04-21 10:13 AM

E A R T H W A T E R W A S T E R E S O U R C E S

O u r s O l u t i O n s h e l p e d t u r n 6 0 y e a r s O f l i a b i l i t y i n t O h i s t O r y.

There’s something to be said about leaving things better than the way you found them. That’s what we do. We are Tervita, an environmental solutions company and your sustainability partner. We offer the most comprehensive range of integrated earth, water, waste and resource solutions for all stages of your project – designed to help reduce your costs, manage your liability and protect your reputation. Minimizing impact, maximizing returns.TM It’s about helping to sustain your business. And everything around it. Visit tervita.com/earth to learn more.

unique approach to secure wellbore, porous formations

and protect town’s water.

abandonment completed safely

in accordance with compliance

regulations.

000PSN-Tervita-FP.indd 1 2014-04-22 11:05 AMPSAC_Summer_2014-p02-03.indd 2 2014-05-16 9:16 AM

TIGHT FIELD MARGINS AND SOARING COSTS.

Where do you go from here?

Your operations personnel are working hard and putting in long hours. You must be making a good profit, right? Not necessarily. Until you understand and control variable expenses on job costs and field margins, you may not realize that although you took the operational risk, you didn’t earn an adequate profit in return. That’s why MNP delivers the in-depth strategies and premium solutions you need to tighten internal controls for job pricing and field margins—so you can get more from your business and increase your bottom line.

Contact David Yager, National Leader, Oilfield Services at 403.648.4188 or [email protected]

000PSN-MNP-FP.indd 1 2014-04-21 10:13 AM

E A R T H W A T E R W A S T E R E S O U R C E S

O u r s O l u t i O n s h e l p e d t u r n 6 0 y e a r s O f l i a b i l i t y i n t O h i s t O r y.

There’s something to be said about leaving things better than the way you found them. That’s what we do. We are Tervita, an environmental solutions company and your sustainability partner. We offer the most comprehensive range of integrated earth, water, waste and resource solutions for all stages of your project – designed to help reduce your costs, manage your liability and protect your reputation. Minimizing impact, maximizing returns.TM It’s about helping to sustain your business. And everything around it. Visit tervita.com/earth to learn more.

unique approach to secure wellbore, porous formations

and protect town’s water.

abandonment completed safely

in accordance with compliance

regulations.

000PSN-Tervita-FP.indd 1 2014-04-22 11:05 AMPSAC_Summer_2014-p02-03.indd 3 2014-05-16 9:16 AM

14

16

When the going gets tough, the tough stay put. Through the credit crunch, depressed commodity prices and global economic turmoil, we’ve done just that. We never left the side of the people who’ve made Alberta an economic powerhouse, and we continue to custom build solutions to help them do what they do best…lead. Because Alberta means the world to us.

atb.com/Leaders

TM Trademarks of Alberta Treasury Branches.

Leaders don’t flinch.

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WWW.PSAC.CA 5

Features

Departments7

10

1323

2628

30

COVE

R

S U M M E R 2 0 1 4

SPRING FLING Highlights from the 2014 PSAC Spring

Conference

THROUGH THE AGES A look at PSAC’s 32-year evolution

14

16

MESSAGE FROM THE CHAIR

IN THE FIELD Industry news, notes and events

2014 DRILLING ACTIVITY FORECAST UPDATE

BUSINESS MATTERSThe mergers and acquisitions market heats up

PSAC IN ACTION

MEMBER PROFILELessons on manufacturing and competitive

pricing from Tenaris

A LOOK AT LEADERSHIPGetting to know PSAC board members

Andy Brooks and Deborah Close

10

16

WWW.PSAC.CA

26

14

CONTENTS

23When the going gets tough, the tough stay put. Through the credit crunch, depressed commodity prices and global economic turmoil, we’ve done just that. We never left the side of the people who’ve made Alberta an economic powerhouse, and we continue to custom build solutions to help them do what they do best…lead. Because Alberta means the world to us.

atb.com/Leaders

TM Trademarks of Alberta Treasury Branches.

Leaders don’t flinch.

000PSN-ATB-FP.indd 1 2014-04-16 3:06 PM

30

PSAC_Summer_2014-p04-05.indd 5 2014-05-16 9:44 AM

PETROLEUM SERVICES NEWS

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MESSAGE FROM THE CHAIR

HIS IS A PIVOTAL TIME FOR PSAC. Over the

past 30 years, PSAC has been advocating on behalf of

our service sector members and vying for the attention

of elected officials and bureaucrats. Now, government

representatives come to us.

Our sector is capturing the attention of elected officials and senior

bureaucrats for a couple of reasons. First, with a winter that never seemed

to quit and a sector striving to meet demand, activity levels remain robust

and energy continues to drive the Canadian economy. You can read about

the latest Canadian Drilling Activity Forecast update on page 13 of this

publication. Second, increased use of multistage hydraulic fracturing and

directional drilling technologies has led to an expansion of our workforce –

and jobs are always important to government representatives.

In its dealings with elected officials, PSAC shares the tremendous

impact these technologies have had on the service sector workforce, but until recently we needed

hard facts to support our advocacy efforts. So we commissioned a study entitled Horizontal

Drilling Workforce. The study, conducted by MNP LLP, is the first of its type to consider direct

field employment on the drilling and completion side of new generation resource plays that use

horizontal drilling and multistage hydraulic fracturing.

The study included the four main supplier groups – location, drilling, completion, and

logistics – required by typical wells completed in northeast British Columbia, central Alberta

and southern Saskatchewan in 2013. The data revealed that of the 5,790 wells examined, the

equivalent of 60,863 jobs were created, based on a typical 40-hour work week, 52 weeks of the

year. This is an impressive level of skilled employment, with a dramatic and positive impact

on the Canadian economy. Quite simply, it’s hard data to ignore, and PSAC is riding the

momentum of this report by bolstering our government relations efforts at all levels.

The technologies that are growing our business here in Canada are also being marketed and

used internationally. This point was brought home at PSAC’s second annual Canada’s Energy

Blueprint Forum, held in Calgary in April. Participants at this event not only discovered the

latest innovations in our sector, but also learned about how these technologies are heading

overseas. This international recognition is another impressive aspect of our sector’s activity, and

presents an interesting talking point when addressing PSAC member needs with government

officials. For more than three decades, PSAC’s number one role has been to advocate on behalf

of our members. That will never change. What has changed, and will continue to change, is

how PSAC fulfills that role, because that depends on you, our members. To help us continually

strengthen our efforts, we ask you to continue to stay in touch and provide us with your input

and ideas will help ensure PSAC’s advocacy work remain relevant and timely.

Sincerely,

John Gorman

PSAC Board Chair

TAfter Three Decades of Success, PSAC Looks to the Future

John Gorman, PSAC Board Chair

7WWW.PSAC.CA

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SUMMER 2014 VOL 14 • No.1

PETROLEUM SERVICES ASSOCIATION OF CANADA 1150 800 6TH AVENUE SW

CALGARY, AB T2P 3G3TEL: 403.264.4195FAX: 403.263.7174

EMAIL: [email protected]

PRESIDENT AND CEO: MARK SALKELDVICE PRESIDENT, COMMUNICATIONS: KELLY MORRISON

COMMUNICATIONS COORDINATOR: LINDA ALDRIDGE

PETROLEUM SERVICES NEWS IS PUBLISHED FOR PSAC BY

VENTURE PUBLISHING INC. 10259-105 STREET,

EDMONTON, AB T5J 1E3TEL: 780.990.0839FAX: 780.425.4921

TOLL-FREE: [email protected]

PUBLISHER: RUTH KELLYDIRECTOR OF CUSTOM CONTENT: MIFI PURVIS

MANAGING EDITOR: LYNDSIE BOURGONCONTRIBUTING WRITERS: ROBIN BRUNET, CALEB CASWELL,

RYAN VAN HORNEART DIRECTOR: CHARLES BURKE

ASSOCIATE ART DIRECTOR: ANDREA DEBOERASSOCIATE ART DIRECTOR: COLIN SPENCE

PRODUCTION MANAGER: BETTY FENIAK SMITHPRODUCTION TECHNICIANS: BRENT FELZIEN, BRANDON HOOVER

DISTRIBUTION: KAREN REILLYACCOUNT EXECUTIVES: PEGGY BOGDAN, KATHY KELLEY,

DENNIS McCORMACK

PRINTED IN CANADA BY RHINO PRINT SOLUTIONS. RETURN UNDELIVERABLE MAIL TO 10259 105 ST.

EDMONTON AB T5J 1E3. [email protected] PUBLICATIONS AGREEMENT #40020055

CONTENTS © 2014 PSAC. NOT TO BE REPRINTED OR REPRODUCED WITHOUT PERMISSION.

The Petroleum Services Association of Canada is the national trade association representing the service, supply and manufacturing sectors within the upstream petroleum industry. PSAC represents a diverse range of nearly 250 member companies, employing close to 75,000 people and contracting almost exclusively to oil and gas exploration and production companies.

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News, events and activities in the industryIN THE FIELD

PSAC IS PROUD TO SUPPORT the Petroleum

Competency Program (PCP),

a program designed to build a

national skilled workforce with

standardized, identifiable skills

by using competency standards

to assess and certify workers, and

managed by the Petroleum Human

Resources Council of Canada, now

part of Enform. Congratulations to

those individuals who received their

PCP in 2013 and 2014, to date.

KEITH A. TETACHUK, Assessor Certification

MIKE CLEVELAND, Candidate Certification, Well Testing Supervisor Level 3

NICK DUFFY, Candidate Certification, Well Testing Supervisor Level 2

LYLE SAUNDERS, Candidate Certification,Well Testing Supervisor Level 3

JASON LAROCHE, Candidate Certification, Supervisor Level 2

STEPHEN SHEPPARD, Candidate Certification, Supervisor Level 2

For more, visit www.petrohrsc.ca

Petroleum Competency Program Continues to Build a Competent Workforce

2013/2014 PCP Certificate Assessors & Holders

THE PSAC 2014 EDUCATION FUND online auction is now

open, with better prizes than ever before. The 2014 lineup includes

tickets to Calgary Flames and Calgary Stampeders games, and passes to

the Shaw Charity Golf Classic taking place in Calgary this August. Don’t

miss the opportunity to win a set of Nokian passenger or light truck

tires, or a dream getaway to the Kokanee Springs Golf Resort. To bid

now, visit www.psac.ca

AFTER UNDERGOING A RIGOROUS and independent process

that evaluates the calibre of their management abilities and practices,

KUDU Industries Inc. has been recognized as one of Canada’s best

managed companies by Deloitte. Congratulations to KUDU Industries

Inc. for this prestigious recognition.

Start Your Bidding!

COMING EVENTS

PSAC EDUCATION FUND GOLF CLASSICJuly 17, 2014

Calgary Elks Lodge and Golf Club

Calgary, Alberta

PSAC PRE-DRILLING SEASON MEETINGSeptember 10, 2014

Pomeroy Hotel

Fort St. John, British Columbia

PSAC ANNUAL GENERAL MEETINGOctober 29, 2014

TELUS Convention Centre

Calgary, Alberta

2015 CANADIAN DRILLING ACTIVITY FORECAST SESSIONOctober 29, 2014


Calgary, Alberta

2014 INDUSTRY INSIGHTS DINNEROctober 29, 2014


Calgary, Alberta

Featuring keynote speaker Rex Murphy

For more information about PSAC events,

visit www.psac.ca/events

NEW MEMBERS

REGULAR MEMBERSCanGas Solutions Inc.

Flint Transfield Services Ltd.

NCS Oilfield Services Canada Inc.

Specialized Desanders Inc.

ASSOCIATE MEMBERSFLS Transportation Services Inc.

Bringing Solutions to Surface

PSAC Member Named One of Canada’s Best Managed Companies


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Oil and gas companies face greater challenges today as they focus on maximizing profitability and shareholder value. As a result, they need practical advice and strategies from professionals who understand the issues that they are facing.

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Oil and gas companies face greater challenges today as they focus on maximizing profitability and shareholder value. As a result, they need practical advice and strategies from professionals who understand the issues that they are facing.

Our dedicated BDO Natural Resources team works closely with businesses like yours to provide quality services in audit, business and financial advisory, domestic and international tax, risk management, and business processes.

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Steady Activity Across the West

DRILLING ACTIVITY FORECAST UPDATE

BRITISH COLUMBIA: 623

ALBERTA: 6,530

SASKATCHEWAN: 3,562

MANITOBA: 435

TOTAL IN CANADA: 11,170

2014 CANADIAN DRILLING ACTIVITY FORECAST(NUMBER OF WELLS)

Note: Total includes activity in Northern and Eastern Canada.

PSAC’S Q2 UPDATE PREDICTS INCREASE IN DRILLING ACTIVITY

N ITS SECOND UPDATE to the 2014 Canadian Drilling

Activity Forecast, the Petroleum Services Association of Canada

(PSAC) forecasts a slight increase in Canadian drilling activity

for the year. The updated forecast for 2014 is 11,170 wells (rig

releases), which represents an increase of 370 wells from PSAC’s

original 2014 forecast released in late October 2013. The revised

forecast represents an approximate one per cent increase over 2013

drilling levels.

The updated forecast is based on average natural gas prices of $4.00

CDN/mcf (AECO) and crude oil prices of US$95/barrel (WTI), and the

CAD-USD exchange rate averaging $0.90.

“With a longer winter than normal across Canada this year, and

a breakup with continued activity in Q2, drilling activity is keeping

on par with our original forecast in October,” said Mark Salkeld,

president and CEO of PSAC. “Activity remains steady for our member

I companies, and many companies have been facing challenges with

meeting demand as the shortage of skilled labour continues.”

On a provincial basis for 2014, PSAC now estimates 6,530 wells to be

drilled in Alberta, representing a less than one per cent decrease from

the original forecast. British Columbia is expected to experience an

increase in drilling levels from 550 to 623 wells, a 13 per cent increase.

Saskatchewan’s projected 2014 well count has been increased by 11 per

cent from 3,196 to 3,562 wells. Manitoba is now forecasted to drill 45

fewer wells, at 435 for the year, representing a nine per cent decrease.

PSAC presents updates to its Canadian Drilling Activity Forecast

quarterly, with the next update scheduled to be released in July. The

forecast can be used in conjunction with the PSAC Well Cost Study to

effectively determine potential drilling and completion market sizes,

as well as pricing and activity direction. For more information, contact

PSAC at [email protected].



LEADERSDEVELOPING

N UNOFFICIAL THEME EMERGED throughout

PSAC’s 2014 Spring Conference held this April in Red

Deer, Alberta: the importance of putting people first. The

conference featured two education streams: leadership

development and transportation management, two areas of focus for

the petroleum services sector that, at first glance, cover vastly different

subject areas. But most sessions, if not all, placed an emphasis on the

importance of people, including attracting and retaining employees,

managing workers from different generations and putting people first

when communicating during change or crisis.

With more than 26 per cent of truck drivers over the age of 55, it’s clear

why the trucking industry needs to focus on attracting and retaining

employees. Angela Splinter, CEO of Trucking HR Canada, shared

the results of a study that explored the attitudes youth hold toward

trucking careers. The study revealed that younger workers are looking

for flexibility and work-life balance, in addition to personal connections

in the workplace. It also revealed a curious fact – that fewer younger

people have their driver’s licence today than in previous generations.

Splinter also highlighted the vastly different attitudes towards work

between the four generations currently in the workforce, noting how

these differences are posing recruitment and retention challenges for

the male, baby boomer-dominated industry, which has been labelled the

“workaholic” generation.

Speaking of working long hours, Lorraine Card, director of Carrier

Services at Alberta Transportation, introduced delegates to the North

American Fatigue Management Program (NAFMP). The voluntary

program, launched last year, was initiated through a partnership between

Alberta Transportation and the Alberta Motor Transport Association

to assist companies with developing their own fatigue management

programs, with the ultimate goal of increasing road safety for all road

users. The dangers of driver fatigue are becoming well known, and a 2010

Canadian Council of Motor Transport Association study found 20 per

cent of accidents linked to fatigue. The program offers organizations

a cost-effective way to address the impact of fatigue on their employees

and their bottom line.

A

Another factor dramatically impacting bottom lines in the services

sector is a high rate of staff turnover. Delegates attending the Improving

Staff Retention Through Supervision session reported turnover rates from

12 to 100 per cent in the last year at their respective companies. With so

many costs associated with hiring employees, like on board training, drug

testing, PPE and recruiting, strategies to increase employee engagement

should be a strategic priority. Nancy Boman, a staff engagement consultant

and the session’s leader, advised that “If employees truly are a company’s

best asset, then their care should be a number one priority.”

With vivid examples including the September 11, 2001, attacks in the

United States and the recent Malaysia Airlines Flight MH370 disappearance,

Tom Donoghue demonstrated in his Crisis Communications: Doing it

Right session that communication planning is critical to a company’s

reputation, and even its ability to survive a crisis.

Donoghue described the differences in how companies handled

the Exxon Valdez oil spill, which occurred in Prince William Sound,

Alaska, in March 1989, as opposed to the January 1988 Ashland oil spill

near the town of Floreffe, Pennsylvania. Donoghue says the difference is

the result of planning, training and practice. He said the Exxon Valdez

stands out today because company representatives lied about, denied

and minimized what happened and how the company was responding.

Donoghue noted that to handle the communications aspect of a crisis

LAUGH A LITTLE: Zandra Bell brought comic relief with her well-researched performance as Dr. Shirley Best during the spring conference dinner.

The 2014 PSAC spring conference promised to develop leaders and drive results in transportation management


WWW.PSAC.CA 15

THANK YOU TO OUR SPONSORSMAJOR SPONSORSBaker Hughes Canada CompanyCapilano Truck Driver Training InstituteCenovus Energy IncEnterprise Commercial TrucksGeotrac International Inc.June Warren-Nickles Energy GroupKalTireVolvo Trucks Canada

CONFERENCE SPONSORSAbadata Arresting You Ltd.AssetworksDitch HitchDriving ForceEnformFp iMarketingHSE Integrated Ltd.

Intercon MessagingJim Pattison LeaseNexus Exhibits Ltd.Northstar Fleet Solutions Inc.OBP Promotions and Awards Ltd.Partners in CompliancePwCRed Deer Family and Community

Support ServicesRoadata Services Ltd. Rogers Insurance Ltd.SAIT PolytechnicTELUSUniversity of New Brunswick

CONFERENCE SUPPORTERSGovernment of AlbertaWorkSafeBCWorkers’ Compensation Board - Alberta

effectively, companies need to show concern about people first, then

the environment and finally the associated costs. He also pointed out

that companies should carefully choose and train their spokespeople,

and have alternates, because critical events don’t typically happen

when everyone is at work.

Glyn Jones also highlighted the importance of training and putting

people first in his Competency – The Keys to a World Class Safety

Management System session. He noted that while there is no easy

“Staples button” to create competent employees, a combination of

training, education, mentoring and ongoing worker assessment pays off

in the long run. Jones pointed out that frontline supervisors are the most

important employees in an organization, because they are connected to

employees and can demonstrate they care about employee development.

With much applause and laughter, Zandra Bell appeared as Dr. Shirley

Best to entertain delegates at the dinner, bringing home the importance

of putting people first and having a good laugh. “The body’s response

to repetitive laughter is similar to the effect of repetitive exercise,” she

said. “We should work to put a humorous perspective on the frustrating

inanities and insanities that go on around us, so we don’t end up with

one of those dreaded wellness breakdowns…you know what I’m saying?

The wheel’s still turning but the hamster is dead!”


WWW.PSAC.CA 17

BY RYAN VAN HORNE

In its 32 years, PSAC has charted growth within the petroleum services industry

N THE EARLY-1980S, while many westerners were sporting bumper stickers imploring each other to “Let the eastern

bastards freeze in the dark,” the petro-leum services industry took a more level-headed approach: They organized and started to lobby politicians.

It started with a trip to Ottawa. The

connections this ragtag group of services

executives made while there eventually

inspired the creation of the Petroleum Services

Association of Canada (PSAC) in November

1981. At the time, there were 143 companies

who signed on – membership has since climbed

to 260.

“In the early stages, we did a lot of government

liaison work,” says Al Schreiner, who served as

chairman of the board of directors in PSAC’s

second year of operation. “We had just come

I

CHANGEVOICE

FOR

A

through the National Energy Program, and we were pretty beat up. We

didn’t really have any voice with governments – provincial or federal.”

From its inception until 1984, when the Mulroney government came

to power, PSAC faced a brick wall in trying to influence the National

Energy Program. At first, the main goal in the early stages was to try

to raise the profile of the petroleum service sector within government.

“The focus was on the oil and gas producers, and less on the service

and supply industry, so we thought it was necessary to get some

frontline representation,” says Schreiner, who at the time worked for

Dominion Oilfields Supply Company Ltd. and later moved to Stream-

Flo Industries Ltd.

The National Energy Program sought to soften the blow of rising oil

prices for Canadians, but its critics say it did so largely at the expense

of Alberta. Although it helped foster a lucrative offshore oil industry in

Newfoundland, it forced domestic oil producers to sell their product

below world market prices, and that had an adverse effect on the economy

because it hurt the service companies more than it did the big producers.

“Oil and gas companies had some people in the communities, but

that’s where most of our people were,” Schreiner says. “The impact was

felt directly in the small communities.”

PSAC’s first accomplishment was leading the petroleum industry’s

battle to change – or dismantle – the National Energy Program, which

the Trudeau government developed.



companies. “We’re the association that represents the people that are

working on the ground,” he says. “I’ve had good feedback from my peers

in industry that we’re doing a good job.”

When Salkeld took over the reigns at PSAC, he decided that advocacy

efforts would benefit from strengthening and driving awareness of PSAC

at the upper ranks of government. “It wasn’t dynamic enough in my

mind,” he says. “There might have even been a sense of us vs them. Now,

it’s not them-against-us. They know who we are and they’re calling us

when they’re talking policy.

“Ten years ago, we felt we were on the downside of peak oil, but

some of our member companies in North America have been leaders

in applying these new technologies,” Salkeld adds. “They’re extremely

good at what they do. It’s not a bunch of good ol’ boys blowing up

rock; they’re drilling with accuracy.” Now, PSAC members are driving

innovation and technological advancement not just within government,

but across various sectors, helping transform how the industry operates.

It’s part of PSAC’s job to promote and encourage those advancements.

In that way, Salkeld says PSAC’s “number one reason for being is

advocacy.” But advocacy is a much broader concept today than it was

decades ago. The association now has many stakeholders that require

constant outreach. “There was a shift with my coming on board,” he says.

Ray Mills joined the PSAC board of directors five years ago, at

the beginning of the global recession, and immediately noticed

inconsistencies in public perception and association. “[Someone] at the

association was saying the recession was good for the industry and it

would come out stronger, but everyone that I spoke to was suffering; and

if companies are suffering, their employees are suffering.”

Mills thought it was important to take the association back to

its roots, focusing on why it got started “during the dark days of the

National Energy Program” – advocacy. “The association has done a

great job in engaging government, the public and other key groups with

limited resources,” Mills says. The focus on advocacy and showcasing

these efforts across PSAC membership remains a top priority.

“We can’t stray too far from what we’ve been doing, but we need

to increase the advocacy side,” Mills says. “It’s not revolution,

it’s evolution.”

Some 30 years ago, PSAC had to charter a plane to get to the steps

of Parliament to fight for the sector, but today they’re invited by the

prime minister on trips overseas. “Our profile is growing, our credibility

is growing and our contributions to this industry and the national

economy are being recognized at the highest ranks of government and

within the sector,” Salkeld says. “There is work to be done as new issues

arise every day, but there is no doubt that we continue to look at ways

to strengthen our efforts and ensure we are at the table on key policy

decisions, and to continue to deliver value to our membership.”

Over the next three decades, they scored numerous other victories,

becoming a power player in the industry and undertaking various

initiatives that followed the evolving expectations of their membership.

Schreiner, who is retired, says PSAC has consistently broadened its

influence – and not just as a lobby group. Its industry reporting and

forecasting are well-respected, as are PSAC’s cost estimates.

“They’ve done a great job promoting safety and communicating

the impact that the service sector has on rural areas,” he says. Once a

year, PSAC hosts a sell-out dinner with a featured speaker that attracts

decision-makers from the financial world as well as the natural gas

industry. It’s a gathering that showcases PSAC’s credibility across sectors,

which Schreiner says they’ve been able to cultivate by becoming a “voice of

reason, rather than using a biased, beat-the-drum approach.”

Mark Salkeld, the current president and CEO of PSAC, says the

association’s most notable milestones are raising awareness of the

association in the industry, and raising the participation level of those

“WE CAN’T STRAY TOO FAR FROM WHAT WE’VE BEEN DOING, BUT WE NEED TO

INCREASE THE ADVOCACY SIDE,” PSAC’S RAY MILLS SAYS.

In March 2014, PSAC President and CEO Mark Salkeld represented Canadian petroleum services capabilities during the Government of Canada’s historic trip to the Ukraine.

The Ottawa delegation that spurred the creation of PSAC.


WWW.PSAC.CA 19

A HISTORY IN LOGOSFrom wells to “working energy,” PSAC’s logos through the ages echo a changing organization:

1981-1990 1990-2005 2006-2009

2009-2011 2011-2012 2012-PRESENT



FUTURE

BLUEPRINTFOR THE

A

ELL PHONE AND tablet

technologies evolve quickly for

sure, but if you want to see some

real innovation, you need to check

out the petroleum services industry. Partici-

pants at PSAC’s 2014 Canada’s Energy Blueprint

Forum, held in Calgary on April 30, 2014, did

just that, seeing some of the most recent –

and amazing – technologies coming out of the

Canadian oilpatch. Now in its second year, the

Forum gives attendees an overview of key technol-

ogies, in a bid to demystify industry operations.

The event drew new hires, students getting ready

to enter the workforce and many others who work

in or in support of the industry.

Targeting reserves in such diverse locations

as the Arctic, off the shores of Newfoundland

and in the Duvernay formation in west central

Alberta, Canadian companies face a wide range

of challenges not found anywhere else. Rather

than throwing up their hands in despair,

C

Canada’s Energy Blueprint Forum showcases petroleum services technologies to shine a light on industry operations

these companies devote time and

resources to developing innovative

ways to produce Canada’s resources

efficiently and safely.

Petroleum services sector

companies are developing hun-

dreds of technologies every year,

according to Art Robinson, partner

at 32 Degrees Capital. Robinson, a

member of the Energy Blueprint’s

morning panel, pointed out

that between 2002 and 2012, the

annual patents granted to Schlum-

berger, Halliburton and Baker

Hughes increased from 433 to a

whopping 1,257.

So what were some of the innovations showcased at the event? Sessions

touched on technologies related to enhanced oil recovery, compressed

natural gas, coiled tubing and microseismicity, to name a few. Even better,

the sessions were presented by the people who use the innovations and

who know them best.

Robert Johnston, CEO and director of Global Energy & Natural Resources, Eurasia Group delivered a compelling talk discussing the international oil and natural gas industry from a geopolitical perspective.


WWW.PSAC.CA 21

PSAC President and CEO, Mark Salkeld delivered the mid-year update, which anticipates a continued level of steady activity for Canada’s oilpatch.

PSAC brought together an esteemed panel, including Gerry Protti, chair, Alberta Energy Regulator (podium) and from left to right Greg D’Avignon, president and CEO, Business Council of British Columbia, Art Robinson, partner, 32 Degrees Capital, and Bruce Edgelow, vice president, Energy Group, ATB Corporate Financial Services.

SERVED FOR LUNCH: GREAT INFORMATIONEnergy Blueprint participants got a bonus this year – a lunchtime presentation of the 2014 Canadian Drilling Activity Forecast mid-year update. Mark Salkeld, PSAC president and CEO delivered the presentation, which you can also see in this issue. Andrew Bradford, head of energy research at Raymond James provided an industry outlook.

Lunchtime session moderator David Yager, national leader of the oilfield services group at MNP LLP, shared the results of the new Horizontal Drilling Workforce Study. The study, commissioned by PSAC, calculated the direct and indirect employment needs of drilling and completion operations for resource plays that use horizontal and multistage fracturing. Read highlights of the study in this publication’s Message from the Chair, or go to psac.ca for the full report.

One of the day’s many highlights included a demonstration by Element Tech-

nical Services Inc. Participants got to watch non-potable water and chemicals

found in common household products, such as shampoo, ketchup and laundry

detergent mix together to create fracturing fluid. Attendees were surprised to

find out that 95 per cent of hydraulic fracturing fluid is made up of water.

The event capped off with Robert Johnston, CEO and director of Global

Energy & Natural Resources, Eurasia Group, who discussed factors influ-

encing oil and natural gas activity around the world, including energy

production in the U.S. and the need for Asian markets to tap into North

American energy supplies.



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WWW.PSAC.CA 23

British Columbia in 2014, as the participants in those projects build

reserves and consolidate landholdings.

For oil and gas services companies affected by this activity – whether

you’re looking to merge or be acquired – analysts generally agree that

you should:

• Understand all the assets affected in the transaction.

• Pinpoint senior management involved and note any professional and

cultural differences that can influence career development in the new

organization.

• Examine relocation considerations if you get an offer from an

acquiring company in another location, as it could be a deal-breaker

for many key players.

• Consider encouraging employees with more than 15 years’ experience

to take an exit offer and reentering the workforce as a well-paid,

knowledge-based consultant. Streamlining the workforce is an

inevitable part of any merger or acquisition. >> CONTINUES ON PAGE 24

HE MOOD OF THE invest-

ment community can be as import-

ant as actual investment numbers,

and so far in 2014, the mood sur-

rounding mergers and acquisitions is positive.

“There’s been a noticeable change over

the past six months, marked by a distinct

improvement in both investor and producer

sentiment,” says Richard Matthews, managing

director, acquisitions and divestitures, for

FirstEnergy Capital Corp. “We’re seeing more

confidence in oil and natural gas prices and in

producers’ abilities to generate strong returns.

Investors have started to take notice and have

been returning to the sector.”

Matthews’ optimism is shared by many

colleagues, including Dan Barclay, head of the

BMO Capital Markets Canadian Mergers &

Acquisitions group. On April 3, he told Reuters

that “I think it’s going to be very busy in energy

over the next few quarters for sure. Some of

it is just changing commodity prices, some of

it is pent-up demand, part of it is availability

of capital.” Adam Waterous, head of global

investment banking at Scotiabank, agrees that

activity will be brisk, with the oil and gas recovery

about three months ahead of the mining recovery.

Upward trends that may affect M&As include

available capital and a favourable corporate

finance market, larger cap independent energy

companies looking to grow positions and

shareholder activism. And because larger

companies can provide the structure and

balance sheets to more easily sustain and fund

growth, consolidation is likely to continue.

Calgary’s Stikeman Elliott LLP predicts

more consolidation and M&A activity

involving dividend-paying exploration and

development companies. The business law firm

also theorizes that the push to develop LNG

export projects on the West Coast may drive

investment in natural gas assets in northeastern

Smooth Transitions

T2014 PROMISES A SWIFT M&A MARKET FOR THE SERVICE SECTOR

BY ROBIN BRUNET

BUSINESS MATTERS

“WITH IMPROVING COMMODITY PRICES AND STRONGER EQUITY MARKETS, MORE COMPANIES HAVE THE CAPACITY TO BE ACQUIRERS.”



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Those same analysts have noted that increased confidence in the

market drives the increase of M&A activity, as opposed to companies

struggling and needing to sell. With producers improving their

expectations surrounding commodity prices, this could have a direct

impact on PSAC members if oil field activity increases.

Matthews points out that many oil and gas transactions over the

past six months “have been well-received by investors. Companies are

again being rewarded for doing smart deals.” The significance of these

transactions, he says, is “that in all cases, the acquirer’s share price

climbed – precisely because they were good, strategic deals. When

companies know they can do the right deal, and be rewarded for it in

the public markets, more transactions will get done going forward. And

with improving commodity prices and stronger equity markets, more

companies have the capacity to be acquirers.”

Over the past six months, FirstEnergy has acted as financial advisor

in 12 transactions totaling $2.2 billion, ranging from upstream oil and

gas deals to service company transactions like the recent CWC Well

Service Corp. acquisition of Ironhand Drilling Inc. “The market is much

more supportive of transactions, and there’s momentum building. No

one is declaring this a raging bull market, but it feels very constructive,”

says Matthews. “For the rest of 2014 we expect continued elevated M&A

levels in the upstream sector. Commodity prices should remain strong,

companies are making money. People are optimistic and excited about

their prospects.”


WWW.PSAC.CA 25



THE PETROLEUM SERVICES ASSOCIATION OF CANADA (PSAC) CONTINUES TO KEEP THE SERVICES SECTOR FRONT AND CENTRE THROUGH ADVOCACY AND OUTREACH

PSAC IN ACTION

PSAC AT HOME AND ABROAD

EDMONTON: Earlier this year, PSAC participated in the federal pre-budget

roundtable with the Honourable Rona Ambrose, Minister of Health,

to put forward recommendations related to access to markets, taxable

benefit policy review to facilitate cross-country labour mobility,

incentives to encourage innovation and automation in manufacturing,

and ensuring a level playing field for Canadian companies competing

against foreign companies.

CALGARY: Recently, PSAC attended a manufacturing roundtable, hosted by the

Canadian Manufacturers & Exporters, with Assistant Deputy Minister

Justin Reimer. Participants discussed the importance of educating Al-

bertans on the oil and gas industry’s role in diversifying the province’s

economy, as well as welding certifications, apprenticeships models, pro-

curement issues and global competition.

PSAC represented members at the 2014 Unconventional Gas

Conference in Calgary, and had the opportunity to meet the

Honourable Greg Rickford, the new Minister of Natural Resources,

introducing him to the challenges facing association members.

This spring Alberta’s Premier David Hancock and Alberta Energy

Minister Diana McQueen invited PSAC and other associations to

meet with them to discuss key policy and issues their respective

members face. In addition to industry-wide challenges like increasing

market access, PSAC spoke to labour issues, skills development,

regulatory harmonization, PSAC’s Working Energy Commitment

program and the Hydraulic Fracturing Code of Conduct.

OTTAWA: PSAC met with Ian Shugart, Deputy Minister of Employment and

Social Development, to introduce the Association and discuss the

sector’s labour situation. While in the capital, PSAC met with Alan Ross,

the Government of Alberta’s representative in Ottawa, to report on the

progress and results of the Working Energy Commitment initiative.

UKRAINE: PSAC joined Prime Minister Harper on a trip to Ukraine. In March,

PSAC joined the Government of Canada on its trip to the Ukraine to meet

the country’s interim prime minister. The trip offered the opportunity to

discuss the future potential for Canadian petroleum services companies

to do business in the Ukraine, as that country looks to develop their

energy resources to loosen their dependence on foreign supplies.

CHINA:PSAC hosted a Business Opportunities in China Breakfast seminar.

In February, PSAC held a breakfast session to inform members of its

participation on a recent trade mission to China with the Government

of Alberta. Attendees heard about intellectual property protection

Justin Davidson, Partner, Norton Rose Fulbright, shared his legal expertise regarding intellectual property issues at PSAC’s Business Opportunities in China Breakfast in Calgary this February.

in China, opportunities for petroleum service companies in the area of

natural gas development and investment opportunities with the Chinese

government and companies.

PSAC LEADS HEALTH AND SAFETY INITIATIVES

REVIEW OF PART 33 – OIL AND GAS – ALBERTA OH&S CODE: PSAC cooperated

with the upstream petroleum industry trade associations to make a joint

submission to the Alberta government review of Part 33 of the Alberta

OH&S Code. Part 33 deals exclusively with oil and gas operations, and the

PSAC Health and Safety Committee worked diligently to ensure that the

interests of the service sector were well represented in the joint submission.

INDUSTRY RECOMMENDED PRACTICE (IRP) #8 – PUMPING OF FLAMMABLE FLUIDS: Since industry first sanctioned this IRP in 2003, the size and scope of

fracturing operations has increased significantly. PSAC members that

provide fracturing services and fire and rescue services have been working

together on a proposal that the IRP for industry review to ensure that it is

reflective of current practices.


WWW.PSAC.CA 27

Mike Dawson, President, Dawson Energy Advisors Ltd., at PSAC’s Business Opportunities in China Breakfast in Calgary this February.

HARMONIZATION OF OH&S REGULATIONS IN WESTERN CANADA: PSAC is working

with industry trade associations on an initiative designed to harmonize

the occupational health and safety regulations governing oil and gas

operations in Western Canada. PSAC has held several meetings with

OH&S regulators across the region to discuss the proposals and to identify

opportunities for harmonization.

CRYSTALLINE SILICA: PSAC members and staff have been monitoring and

providing input into discussions with regulators dealing with worker

exposure to crystalline silica in the workplace. More details on these

discussions, and scientific studies into worker exposure to crystalline

silica, can be found on the PSAC website under “Health and Safety.”

FOR MORE INFORMATION: Find out more on PSAC health and safety

initiatives, please contact Patrick Delaney, Vice President, Health and

Safety at [email protected] 403.781.7384. For all other inquiries, contact

[email protected] or 403.264.4195.

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Leave nothing behind.

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[email protected]

©2014, NCS Energy Services, LLC. All rights reserved. Multistage Unlimited, GripShift, and “Leave nothing behind.” are trademarks of NCS Energy Services, LLC. Patents pending.

GripShift Sleeves vs Ball-Drop Sleeveswith cement with packers

GripShift casing sleevesCemented annulus for stage isolation

Recorded pressure data verifies stage isolation

Each sleeve positively located for frac

Sleeve shifting verified three ways

Single-point injection, precise frac location

Verified frac spacing

Verified propped volume in each frac

Identical sleeves can be installed in any order

All sleeves have full-drift ID at all times

Closable version is available

Real-time frac-zone pressure data

Screenouts easily and quickly removed

Sleeves easily located and isolated for restimulation

Ball-drop sleevesOpen-hole packers for stage isolation

Unverifiable stage isolation, known failures

No way to positively identify active sleeve

No verification of sleeve shift

Unknown where fracs initiate

No control over frac spacing

Unpredictable propped volume in each frac

Sleeves must be installed in exact order

Ball seats restrict ID until drilled out or retrieved

No closable option unless retrieved

No real-time frac-zone pressure data

Screenouts are costly

Well segments difficult to isolate for restimulation

To clear up any confusion about frac sleeves:

For a long time, the big frac debate was about whether plug-and-perf or ball-drop sleeves-and-packers are better for multistage completions—shots versus sleeves. Now there is a third choice that has quickly changed the debate: the Multistage UnlimitedTM coiled tubing frac system. This system also uses sleeves, which has led to some confusion, even though Multistage Unlimited GripShiftTM casing sleeves don’t even use balls. To help clear things up, here’s a quick comparison:

The Multistage Unlimited GripShift casing sleeve is not a ball-drop sleeve.

000PSN-NCS-FP.indd 1 2014-04-21 10:14 AM

HE SHALE GAS BOOM throughout North American calls

for oil country tubular goods, also

known as OCTG, which can with-

stand high tension and compression, all while

stretching the length of the Empire State Build-

ing in New York. Pipelines are to the oil and

natural gas industry what roads are to a city.

And just like roads need to be expertly main-

tained, upgraded and properly planned and

built, so does the transportation infrastructure

of Canada’s oil and natural gas industry. Cana-

da’s vast pipeline network carries the majority

of oil and natural gas being produced today,

and excess capacity will be required to meet

future needs to transport product to market.

Tenaris creates high-quality pipe—specifi-

cally, casing and tubing for use in oil and gas

wells and line pipe for use in energy pipelines,

process facilities and refineries—and manu-

factures its product for a global market. With

manufacturing locations in Canada, the United

States, Mexico and in most of the world’s oil

and gas regions, 27,000 employees and a net-

work of service and distribution in 30 coun-

tries, it distributes over 100,000 pipe products

on a global scale.

While some might guess that its ability to

compete boils down to pricing, David McHattie,

the institutional relations director for Tenaris in

Canada, explains that differentiation is achieved

through the company’s service orientation.

“The most important thing that we do is focus

on solutions,” he says. “It enables us to deeply

understand what is most important to our client

and respond with tailor-made innovation.”

So how does Tenaris differentiate itself

within the industry? “We prefer to work with

our partners long term, to provide stability

The Pillars of Differentiation

T

and focus on improving products and processes, looking to minimize

operational risk and optimize cost efficiencies for our customers,” says

McHattie Tenaris routinely measures processes and efficiency with their

clients to make sure there is continual improvement.

By building relationships with both—working with clients to identify

their needs and find improvements, and sourcing materials from local

industries—Tenaris has a better perspective on what the company can

improve on from both the office and the field. This also allows the

company to discover ways to identify and solve needs it wouldn’t have

otherwise considered.

“We are a manufacturer who can uniquely provide the combined

strength of industrial excellence and service to the customer,” says

McHattie. “In Canada, for example, we manufacture the most complete

product range in the market.

“Our local manufacturing network is an important part of the econom-

ic value Canadians expect as a return for developing our oil and gas,” he

adds. Also, instead of importing steel, Tenaris partners with steel compa-

nies in Quebec and Ontario. This helps Tenaris be efficient and flexible

with supply demands, while also contributing to the national economy.

Tenaris has become a global leader by becoming an essential part of

the energy industry’s workflow. They are an important element in their

clients’ success through application of metallurgical knowledge and

premium connection design, with a focus on innovation. Key to differ-

entiation in a country like Canada is a manufacturer’s ability to know

the market inside and out.

THROUGH LONG-TERM VISION AND MANUFACTURING COMMITMENT, TENARIS GAINS A SPECIALIZED UNDERSTANDING OF THE CANADIAN ENERGY INDUSTRY

BY CALEB CASWELL

MEMBER PROFILE


Leave nothing behind.

ncsfrac.com+1 403.969.6474

[email protected]

©2014, NCS Energy Services, LLC. All rights reserved. Multistage Unlimited, GripShift, and “Leave nothing behind.” are trademarks of NCS Energy Services, LLC. Patents pending.

GripShift Sleeves vs Ball-Drop Sleeveswith cement with packers

GripShift casing sleevesCemented annulus for stage isolation

Recorded pressure data verifies stage isolation

Each sleeve positively located for frac

Sleeve shifting verified three ways

Single-point injection, precise frac location

Verified frac spacing

Verified propped volume in each frac

Identical sleeves can be installed in any order

All sleeves have full-drift ID at all times

Closable version is available

Real-time frac-zone pressure data

Screenouts easily and quickly removed

Sleeves easily located and isolated for restimulation

Ball-drop sleevesOpen-hole packers for stage isolation

Unverifiable stage isolation, known failures

No way to positively identify active sleeve

No verification of sleeve shift

Unknown where fracs initiate

No control over frac spacing

Unpredictable propped volume in each frac

Sleeves must be installed in exact order

Ball seats restrict ID until drilled out or retrieved

No closable option unless retrieved

No real-time frac-zone pressure data

Screenouts are costly

Well segments difficult to isolate for restimulation

To clear up any confusion about frac sleeves:

For a long time, the big frac debate was about whether plug-and-perf or ball-drop sleeves-and-packers are better for multistage completions—shots versus sleeves. Now there is a third choice that has quickly changed the debate: the Multistage UnlimitedTM coiled tubing frac system. This system also uses sleeves, which has led to some confusion, even though Multistage Unlimited GripShiftTM casing sleeves don’t even use balls. To help clear things up, here’s a quick comparison:

The Multistage Unlimited GripShift casing sleeve is not a ball-drop sleeve.

000PSN-NCS-FP.indd 1 2014-04-21 10:14 AMPSAC_Summer_2014-p28-29.indd 29 2014-05-16 9:25 AM


Managing succession

You’re proud – and rightly so - of what you’ve achieved. You’ve led the way. Now it’s time for others.

Whether it’s the handover to the next generation, or a sale to new owners, you want a smooth transition and you want to maximize value.

KPMG’s Corporate Finance network is the global leader in mid-market M&A transactions.* Together with KPMG’s powerful network of tax, transaction and accounting advisors, we will help you close the deal and secure the future.

kpmg.ca

Passing the baton

*Source: Thomson Reuters SDC; mid-market transactions (under $1 billion - USD)

© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

Rhys RenoufManaging Director,KPMG Corporate [email protected]

Deb MacPhersonPartner, KPMG Enterprise, [email protected]

Alex HendersonPartner, Transaction [email protected]

000PSN-KPMG-FP.indd 1 10/15/13 2:01:06 PM

IF YOU COULD DO ANY OTHER JOB, WHAT WOULD THAT BE?AB: Owner of a major sports team. That, or a gardener.

DC: Psychologist. I particularly enjoy the study of personality types,

how people process information and communicate with each other.

WHAT IS YOUR FAVOURITE BOOK OF ALL TIME?AB: Papillon

DC: The Bible

WHAT ABOUT MOVIE?AB: The Shawshank Redemption, and In Bruges.

DC: The Sound of Music. Corny, I know, but I love the story and

the music.

IF YOU COULD INVITE THREE FAMOUS PEOPLE (DEAD OR ALIVE) TO DINNER, WHO WOULD THEY BE AND WHAT WOULD YOU SERVE?AB: I would invite Jesus, Winston Churchill and Alexander the Great,

and serve whatever Jesus wants.

DC: Jesus Christ, Winston Churchill and Helen Keller. I’d probably

order in pizza. I doubt I could prepare anything that would impress

them, and I wouldn’t want to waste a minute in the kitchen when I

could be talking with them.

WHAT DO YOU THINK IS THE BIGGEST CHALLENGE FACING CANADA’S ENERGY INDUSTRY AT THIS TIME?AB: Access to world markets.

DC: A sense of urgency with respect to market diversification. We

must find a way to collaborate politically to get our products to

market, otherwise, those markets will find alternate ways to supply

their needs.

WHAT WOULD YOU SAY IS YOUR BIGGEST ACCOMPLISHMENT TO DATE?AB: Getting married and raising children.

DC: Staying happily married for 37 years.

WHAT MOTTO OR PHRASE DO YOU LIVE BY?AB: Stand for something or you stand for nothing.

DC: If it was easy, everyone would do it.

WHAT TALENT WOULD YOU MOST LIKE TO HAVE?AB: To be able to learn other languages quickly and easily.

DC: To be able to play the piano by ear.

IF YOU COULD CHANGE ONE THING ABOUT YOURSELF, WHAT WOULD IT BE?AB: Don’t worry as much.

DC: I’d be more patient.

WHAT IS YOUR MOST TREASURED POSSESSION?AB: My family.

DC: A music box that belonged to my mother.

IF YOU COULD TRAVEL TO ANYWHERE IN THE WORLD, WHERE WOULD YOU GO?AB: To the Seychelles, an island off the east coast of Africa.

DC: To Egypt. I’d like to go to Luxor and also see the pyramids.

WHO ARE YOUR HEROES IN REAL LIFE?AB: Jesus, Terry Fox.

DC: My father – he’s 87, still walking several miles a day and has a

delightful sense of humour.

IN 10 WORDS OR LESS, WHAT WOULD YOU SAY ABOUT HOW 2014 IS GOING TO TURN OUT?AB: Very optimistic that 2014 will be a transition year.

DC: A good year with slightly higher activity than 2013.

ANDY BROOKSPresident and CEO

Flint Transfield Services Ltd.

DEBORAH CLOSEPresident

Production Services, Tervita Corporation

PETROLEUM SERVICES NEWS TALKS WITH PSAC’S BOARD OF DIRECTORS AND TAKES A PERSONAL LOOK AT LEADERS IN THE SERVICES SECTOR

ANDY BROOKS DEBORAH CLOSE

A LOOK AT LEADERSHIP


Managing succession

You’re proud – and rightly so - of what you’ve achieved. You’ve led the way. Now it’s time for others.

Whether it’s the handover to the next generation, or a sale to new owners, you want a smooth transition and you want to maximize value.

KPMG’s Corporate Finance network is the global leader in mid-market M&A transactions.* Together with KPMG’s powerful network of tax, transaction and accounting advisors, we will help you close the deal and secure the future.

kpmg.ca

Passing the baton

*Source: Thomson Reuters SDC; mid-market transactions (under $1 billion - USD)

© 2013 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

Rhys RenoufManaging Director,KPMG Corporate [email protected]

Deb MacPhersonPartner, KPMG Enterprise, [email protected]

Alex HendersonPartner, Transaction [email protected]

000PSN-KPMG-FP.indd 1 10/15/13 2:01:06 PMPSAC_Summer_2014-p30-32.indd 31 2014-05-16 9:26 AM

READY-MADE PIPELINE SYSTEM

Flexpipe Systems’ corrosion-resistant composite linepipe products are ideal for use in Canada. Operating temperatures of up to 82°C, fl exibility and minimal equipment requirements make Flexpipe Systems the answer to your next pipeline project.

fl expipesystems.com

SC_Flexpipe_LW_PSAC_031814.indd 1 14-03-20 4:28 PM000PSN-FlexpipeSystems-FP.indd 1 2014-05-02 9:26 AMPSAC_Summer_2014-p30-32.indd 32 2014-05-16 9:26 AM

psac petroleum service news summer 2014

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