IPS Asset Exchange
Effective March 1, 2009, Integrated Production Services (IPS) and a Canadian Service Company entered into an agreement whereby IPS has exchanged all Canadian Production Testing assets for their Cased-Hole E-Line assets. A total of 10 Wireline units split between Red Deer and Grande Prairie and all associated support equipment were transitioned into IPS' existing operation.
This transaction allows IPS as an organization to become increasingly focused on Wireline as our core business and represents further progression towards IPS becoming a dominant force in Canadian Cased-Hole E-Line and TCP services. Now operating 44 E-Line units throughout Alberta, BC and Saskatchewan, IPS realizes the economics of scale, the basin expertise, and the geographical footprint to aggressively increase our market share.
While we are considered a large business, IPS prides itself on our organizational agility and our entrepreneurial culture which allows us to capitalize when lesser companies simply cannot. We are a people-first business, focused on opportunity, people development, and the well-being and safety of our people, our customers, and the environment.
Sincerely,
Bob Duval,
SVP Canadian Operations
Integrated Production Services
IPS prides itself on staying involved in the community. We have developed a donations committee which reviews any and all requests. IPS ensures that we are supporting charities and events in the areas we are stationed.