Trican Overview
Company Headquarters: Canada
Founded: 1979
Workforce: ~11,900
Company Working: TRICAN specializes in offering equipment and services for drilling operations and for exploring oil and gas reserves. It offers several oilfield pressure pumping services including cementing, fracturing, acidizing, and production enhancement. The company has launched more than 160 new cementing and stimulation products and 45 coiled tubing inventions in the last five years. It also provides acidizing and production enhancement services that comprise coiled tubing solutions, which includes coiled tubing fracturing and acidizing, production and injection well enhancement services and equipment, specially designed tools, well cleanouts, milling, high pressure jetting, e-coil (smart coil), in-house engineering, and nitrogen gas lifting. TRICAN also has specialized laboratories for well cementing, geological and stimulation segments in oilfield services. ItTRICAN provides various industrial services, comprises of nitrogen services, mechanical, chemical, and bundle cleaning services, fracturing equipment and solutions, and pipeline services, such as operating, commissioning, and abandonment services. Ultrasonic cement compressive strength determination, cement blend gas migration analysis, cement rheology profile characterization, and cement mechanical properties are a few other areas of specialization of the company. Additionally, it features mass flow meters, recirculating mixers, data acquisition system, and real-time data monitoring.
TRICAN has research and development facilities across Russia, Texas, and Colombia. Kievton Limited, TRICAN Completion Solutions LLC, i-TEC Well Solutions LLC, R-Can Services Limited, Northline Energy Services, Inc., and Canadian Oilfield Stimulation Services Limited are some of the subsidiaries of the company.
Strategy
TRICAN focuses on expanding its market presence through acquisitions and partnerships. It plans to balance out its shareholder’s equity and long-term debts to ensure sustainable growth in the global coiled tubing market. The company aims to increase the company’s revenue and maintain a strong balance sheet strategic mergers and acquisitions. Presently, it is concentrating on improving its hydraulic fracturing services and selective strategic investments in its coil tubing business to expand its capabilities, improve competitive position, and increase its share in the global coil tubing market.
