Treeline Well Services LP (Treeline) is pleased to announce, effective May 11, 2022, the partnership has acquired all the assets of Compass Well Servicing (Compass). The Compass fleet consists of 9 mobile double rig packages and all equipment was manufactured between 2013 and 2019. The acquisition will give Treeline the newest fleet of service rigs in Canada.
Treeline is excited to welcome the employees of Compass and the partnership will continue to build on the great business Compass has established since 2013. The acquisition brings Treelines’ fleet to 40 rigs, consisting of 33 doubles and 7 singles. Treeline is now the 2nd largest operator of double service rigs in Canada. The Compass rigs, due to their lighter design, will give Treeline a competitive advantage during the spring break-up months where weight restrictions on conventional rigs greatly reduce mobility. The acquisition also strengthens Treeline’s presence in the central Alberta market.
The combined assets would have generated over 30,000 rig hours in the first quarter of 2022 ranking Treeline as the 3rd largest contractor in Canada. This combination will also position Treeline as the largest double service rig contractor in Canada in terms of hours. Treelines’ President Dan Bryson is ecstatic about the purchase and weighed in on the partnership’s plans, “This acquisition has enabled Treeline to achieve our goal of 40 rigs, we will now switch our focus from growth to the optimization of the business and implementation of our DownForce Technology™. We are very thrilled to add such quality people and top tier assets, we look forward to working with customers in this new core area.”
Treeline has demonstrated its commitment to the Canadian market and continues to lead by investing in its business as a focused service rig provider. The partnership continues to be the Thermal SAGD service rig vendor of choice and now aims to grow its operations in the central Alberta market while adding to its core Grande Prairie and NE British Columbia areas.
The Compass acquisition builds on Treeline’s motto: Great Iron…Even Better People.