Treeline Well Services LP (Treeline) is pleased to announce that 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 rig packages were manufactured between 2013 and 2019. The acquisition will give Treeline the newest fleet of service rigs in Canada.
Treeline is pleased to welcome employees of Compass and the company will continue to build on the great business that 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 Treelines 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 measured by activity level. This combination will make Treeline the largest contractor in Canada in terms of hours derived from double service rigs. Treelines’ President Dan Bryson is ecstatic about the purchase and weighed in about the partnership’s plans, “This acquisition has enabled Treeline to achieve its goal of optimal scale, we will now switch our focus from growth to the optimization of the business in our core areas. We are very fortunate to add such quality people and top tier assets, we look forward to working with the Compass customers in this new core area.”
Treeline has demonstrated its commitment to the Canadian market and continued to lead by investing in our business as a pure 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 business. The Compass acquisition builds on our motto…Great Iron…Even Better People.