Setting the stage for growth and enhanced value
Whitetail Oilfield Rentals Ltd. (“Whitetail”) and Okala Energy Services Ltd. (“Okala”) are very pleased to announce that they have combined forces by way of a merger that was effective January 1, 2017. The ownership and management from both companies remain intact and fully committed to the combined entity.
Whitetail and Okala will continue to operate under their current trade names for the foreseeable future and are now in a position to better support their collective customer bases with a more diverse range of rental equipment packages and services throughout the western Canadian sedimentary basin. The administrative and sales functions for the combined entity will be conducted from its Head Office located in Calgary, AB., with field service and support now being coordinated out of two operational facilities located in Red Deer, AB. and Dawson Creek B.C.
Management believes that this business combination provides a solid foundation that will generate significant opportunity for the benefit of all stakeholders. These benefits include the overall growth of the company, personal growth for all employees, and an enhanced value proposition for its customer base. The products and services offered by both companies are very complimentary in nature and will create “equipment bundling opportunities” that will help drive efficiencies for customers working throughout the drilling, production and completions sectors of the oil & gas industry. In further support of this enhanced value proposition are the company’s highly trained field technicians, who remain steadfast in their ongoing commitment to providing a high degree of excellence and exceptional service.
During the first quarter of 2017, equipment utilization for the combined entity has markedly outpaced industry drilling activity levels. Management believes that the year over year increase in industry activity experienced during the first quarter may be a harbinger that a much-anticipated recovery in the oil & gas industry is on the horizon. Going forward, management will continue to assess and potentially capitalize on any complimentary and accretive growth opportunities that may arise.
WHITETAIL was founded in 1994 and is a leading oilfield communications equipment rental company specializing in providing communications equipment and services. Whitetail maintains a first-class rental fleet of drilling rig communications packages, mobile communication towers, radio packages, data services and satellite installations along with the highest quality of field service in the market.
OKALA was founded in 2012 and was created with the vision of providing its customers with a modern fleet of top quality, wellsite accommodation units along with exceptional service. Okala also provides a wide array of ancillary drilling and production rental equipment for those customers looking for a “one stop shop”.
For further information in regard to the above announcement please contact:
Curt Whitteron; CEO, Okala Energy Services Ltd. (403-861-1404)
Jason Knutson; President, Whitetail Oilfield Rentals (250-784-8163)
For Sales and/or Administrative support please contact:
Whitetail Oilfield Rentals: 1-844-782-9524 (24 hrs.)
Okala Energy Services Ltd: 1-844-350-3237 (24 hrs.)
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