type public traded as tsx cfw industry oilfield services founded 1999 headquarters calgary alberta . key people chairman ronald p. mathison james s. blair gregory s. fletcher martin lambert paul f. little douglas r. ramsay r. timothy swinton products oil field services revenue 460 million usd 2007 1 net income 39 million usd 2007 1 number of employees 1 500 2008 1 website www.calfrac.com calfrac well services ltd. is an oilfield services corporation operating in western canada colorado north dakota arkansas pennsylvania western siberia and south america and texas with more than 4000 employees . calfrac supplies a wide range of products and services from hydraulic fracturing coiled tubing well cementing and other well stimulation services . contents 1 business 2 history 3 see also 4 references 5 external links business edit operating revenue in 2005 was cdn 314mm with a market capitalization of cdn 1.4 bn . since then calfrac has become one of the largest frac service companies in canada and is growing internationally through strategic acquisitions . history edit calfrac well servicing ltd. cws was founded in june 1999 as a private corporation by ronald p. mathison douglas ramsay gordon dibb and robert robbie roberts . at that time calfrac had a single coiled tubing unit and was based in medicine hat alberta . in december 2000 calfrac acquired dynafrac well services ltd. and with it a two pumper fracturing spread a shallow coiled tubing unit a high rate nitrogen pumper and four acid pumpers . by the spring of 2001 calfrac had acquired and constructed seven fracturing spreads plus other well stimulation equipment . early in 2002 cws expanded to the u.s. rocky mountain region by setting up a field office in platteville colorado and began providing fracturing services in the u.s. mostly to encana . calfrac continued to construct more fracturing spreads in 2002 and 2003 and had nine complete spreads by the start of 2004 . in addition to building fracturing spreads in 2003 cws also purchased four shallow coiled tubing units from private companies to increase its fleet of coiled tubing units to eight . in march 2004 denison energy inc. reorganized and transferred all material assets to denison mines and denison oil corporation parent of denison resources leaving income tax attributes and the purchase option agreement among calfrac matco investments on behalf of itself and the other shareholders of calfrac and denison energy inc. granting an irrevocable option to denison energy inc. to purchase all of the issued and outstanding shares of calfrac for an aggregate purchase price of approximately cdn 227.5 million less the net debt of calfrac of approximately cdn 83.6 million . denison energy inc. then de incorporated from ontario and incorporated within alberta . following this matco investments acquired class a common shares from the treasury representing 45 % of the total number of issued and outstanding class a common shares . denison energy inc. then amalgamated with calfrac and changed its name to calfrac well services ltd. the original founders of cws remained with calfrac and form part of the current board of directors . see also edit list of oilfield service companies references edit a b c d company profile for calfrac well services ltd ca ; cfw . retrieved 2008 10 07 . external links edit calfrac well services ltd. system for electronic document analysis and retrieval sedar yahoo summary of calfrac well services ltd. retrieved from https en.wikipedia.org w index.php title calfrac well services & oldid 704075156 categories companies listed on the toronto stock exchangeoilfield services companiescompanies based in calgaryhidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 9 february 2016 at 10 57 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view