Case Study

Failed Canadian Coiled Tubing Oilfield Services (“OFS”) Company.

Lender foreclosed on assets and persuaded U.S. based OFS client to take and rehab equipment.

New “owner” borrowed and spent approximately $5 million on equipment restoration, modifications for U.S. and infrastructure.

Company re-starts and is hampered by poor physical location, lack of strategic management, vision and direction.

Named Interim CEO, developed, gained approval and implemented a comprehensive strategic and tactical business plan.

Successfully moved operations closer to Oklahoma and North Texas producing oilfields.

Assessed, approved and assured operating management, regulatory, operation and safety compliance.

Encouraged and approved organizational restructuring, including operating, maintenance and sales hires.

Developed plan and metrics to reduce capitol costs, achieve cash-neutral position, while increasing sales revenues.

Targeted capitol expenditures and focused on higher revenue work that produced positive cash margins. 

Achieved operational and maintenance efficiency.

Overcame major equipment breakdowns while still increasing sales.

Developed a realizable $10 million annual revenue P&L.