A STEP Above
STEP Energy Service's passion, focus and innovation yields results for their team, investors and clients
By October 2022 edition of Business in Calgary, and Business in Edmonton 3 October 2022 4 min read
STEP Energy Services offers coiled tubing, fracturing, nitrogen and fluid pumping services across the oil and gas plays in the Western Canadian Sedimentary Basin, as well as the Permian Basin and Eagle Ford Shale Play in Texas, the Bakken Shale Play in North Dakota, Uinta-Piceance in Utah and the Niobrara-DJ Basin in Colorado.
STEP was founded in 2011 when Steve Glanville, now CEO; Bailey Epp and Regan Davis recognized the need for an energy services company that was focused on providing an elevated level of client service and technical expertise to the deep capacity coiled tubing market in Western Canada. The founders also understood that unless they built an operational team of engaged and committed professionals, motivated to execute safely and flawlessly each day, the newest equipment in the basin would remain underutilized. The STEP culture was born and attracted some of the most talented professionals to the organization. The company grew quickly in subsequent years, expanding into the hydraulic fracturing market in Canada in 2015. STEP established a coiled tubing presence in the U.S. in the same year.
"We have pride in what we have built over the past 11 years. We care just as passionately about our people and culture as we did on day one. Safety, trust, execution, and possibilities are our core values and guideposts that inform our daily operations. Those values drive our success. "
CFO, STEP Energy Services
Deemter explains the company’s core values in more detail, saying, “Safety is critical to our business and underpins everything we do. We want everyone to go home at the end of every shift. Personal safety is paramount, but this mindset also informs how we take care of our equipment and products and transport them to the well site. We are very conscious about how we operate and want to keep our environment clean and our professionals safe. A high level of trust in our people empowers them to make decisions as they are working; that high level of trust translates into efficient and high-quality execution on each project for our clients. Trust also plays into our value of possibilities. When the team is empowered in what they do, they are actively engaged in their work and in delivering quality service to our clients.”
STEP sets itself apart by working collaboratively with clients, designing programs to maximize logistics and operate at peak efficiency. They pump for more than 20 hours daily to ensure maximized returns for clients and investors.
“We were among the first to bring dual-fuel fracturing equipment to the Canadian market,” Deemter pointed out. “We did that because it is the right thing to do. It reduces both the cost to our clients and emissions into the atmosphere. It goes back to our commitment to the communities where we live, work, and play.”
STEP formed and grew during some turbulent times in the energy industry, giving it the resilience needed to withstand the effects of the COVID-19 pandemic. “A lot of people and companies have left the oil and gas industry since the downturn of 2015 and the overall narrative around oil and gas was becoming increasingly negative in Canada and Europe,” Deemter explained. “However, the world is beginning to realize that energy security is critical. At STEP, we are almost back to pre-pandemic employment levels, and we’re proud of our role in delivering a product that improves the standard of living for people across the globe.”
STEP is a very big believer in investing in the communities they serve. In addition to supporting local events, groups and activities, STEP’s giving back initiatives focus on underserved communities. Their Christmas Spirit Campaign and golf tournament have raised more than $600,000 since the company’s inception. STEP is also an avid supporter of STARS and has a five-year commitment with Red Deer Polytechnic.
“We are designed to live in communities with each other,” says Deemter.
"We are stronger as communities and we benefit personally and professionally from those that came before us. We must both sustain and build on what we have been given so future generations can enjoy these benefits too."
CFO, STEP Energy Services
"Volunteering is important to me and the company. STEP’s leadership and professionals have worked hard to create a culture of caring and community, something that is ingrained into the company’s ethos.”
ATB has partnered with STEP from the start and continued that partnership as STEP expanded into the United States.
“ATB is deeply committed to the energy business in Alberta and Western Canada,” Deemter says. “They have a strong corporate culture as well, something in which we are aligned. I see it when I look at who they support and how they go the extra mile to support Alberta businesses and foster the entrepreneur culture in Alberta. I see it in their events, community engagement and community messaging. It is clear that they operate differently from traditional financial institutions.”
Deemter concludes by talking about the future, “I’m very excited about the coming years for both STEP and the industry. We’re at the early stage of a multi-year commodity cycle and see demand for safe, clean, and reliable North American oil and LNG growing. STEP and many other Alberta-based energy companies are well positioned to benefit from this demand, delivering opportunities to our employees and value to our shareholders.”
From the October 2022 edition of Business in Calgary, and Business in Edmonton. Shared with permission.
Our ATB Business Solutions team will be happy to assist.