STEP Energy Services
STEP Energy Services is a Calgary-based oilfield services company providing deep-capacity coiled tubing, hydraulic fracturing, fluid pumping, and nitrogen industrial services to North American E&P operators across Western Canada and five US basins. The company is privately held by ARC Energy Fund 8 following its 2025 take-private and 2026 merger with Sanjel Energy Services.
- Company typePrivate
- Founded2011
- HeadquartersCalgary, Canada
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What STEP Energy Services does
STEP Energy Services Ltd. is a Calgary-based, privately held oilfield services company founded in 2011 that provides deep-capacity coiled tubing, hydraulic fracturing, fluid pumping, and nitrogen industrial services to exploration and production (E&P) clients across North America. The company operates across the Western Canadian Sedimentary Basin in Canada and five major US basins — the Permian, Eagle Ford, Bakken, Niobrara-DJ, and Uinta-Piceance — with a regional headquarters in San Antonio, Texas and 12 operational yards, supported by a Red Deer Training Center. Its core technology stack is built around proprietary equipment systems including COIL+™ deep-capacity coiled tubing (with depth records achieved in the Permian), STEP-conneCT real-time data acquisition, large-bore manifold systems, and the STEP-XPRS Spread fracturing configuration; 78% of total fleet horsepower runs on dual-fuel (natural gas) technology that displaced approximately 44.1 million liters of client diesel in 2024.
STEP's business model is professional-services-based B2B project contracting: services are quoted and delivered on a project-by-project basis directly to E&P operators through a dedicated field sales and account management organization, with specialized fleets mobilized to client well sites. Revenue is generated across four service lines — coiled tubing (including COIL+ and STEP-conneCT), hydraulic fracturing (including next-generation dual-fuel fleets and STEP-XPRS spreads), fluid pumping, and nitrogen industrial services for pipeline commissioning, decommissioning, pigging, and purging. The company employs 501-1,000 people and was previously listed on the TSX under STEP until being taken private by ARC Energy Fund 8 at CAD $5.50 per share on December 16, 2025; in March 2026 STEP merged with Sanjel Energy Services to create one of Canada's largest oilfield services platforms, with Sanjel's former CEO Murray Bickley appointed President of the combined organization.
Historical revenue trajectory shows ~CAD $730M in 2022, ~CAD $714M in 2023, and ~CAD $664M in 2024, reflecting cyclical compression in North American oilfield services activity. Customer-facing differentiators include proprietary equipment, a 78%-dual-fuel fleet with measurable diesel displacement outcomes, a decade-plus safety-focused operating culture, and an experienced technical management team drawn from Schlumberger, Trican, Calfrac, Sanjel, Pioneer, BJ Services, and Baker Hughes.
STEP Energy Services firmographics
Firmographics- Name
- STEP Energy Services
- Legal name
- STEP Energy Services Ltd.
- Website
- https://stepenergyservices.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Acquired
- Headcount range
- 501–1,000 employees
- Short description
- STEP Energy Services is a Calgary-based oilfield services company providing deep-capacity coiled tubing, hydraulic fracturing, fluid pumping, and nitrogen industrial services to North American E&P operators across Western Canada and five US basins. The company is privately held by ARC Energy Fund 8 following its 2025 take-private and 2026 merger with Sanjel Energy Services.
- Ownership category
- akta.pro rank
STEP Energy Services industry classification
Industry- Product category
- Oilfield Services
- NAICS
- Oil and Gas Field Machinery and Equipment Manufacturing (333132), Measuring, Dispensing, and Other Pumping Equipment Manufacturing (333914)
- SIC
- Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)
- akta.pro primary industry
- Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing) (EUALABAF)
- akta.pro secondary industries
- Well Intervention & Wireline Services (Slickline, E-line, Coiled Tubing) (EUALABAE), Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)
Keywords
Where STEP Energy Services is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices12 records
Markets served
STEP Energy Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Coiled Tubing Services: Deep-capacity coiled tubing services for well completions and well intervention, including COIL+ and STEP-conneCT offerings, provided to E&P companies in Canada and the US.
- Hydraulic Fracturing Services: Next-generation hydraulic fracturing using modern fleet equipment with dual-fuel capabilities, targeting large-scale completions in shale and unconventional plays.
- Fluid and Nitrogen Pumping Services: Fluid pumping and nitrogen industrial services for well stimulation, pipeline commissioning and decommissioning, pipeline pigging, and purging operations.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
STEP Energy Services product offering
Product offeringCore offering
STEP Energy Services provides deep-capacity coiled tubing, hydraulic fracturing, fluid pumping, and nitrogen industrial services to North American oil and gas exploration and production (E&P) operators. Services include advanced coiled tubing with COIL+™ technology and STEP-conneCT real-time data acquisition, next-generation hydraulic fracturing with dual-fuel (natural gas) powered fleets, large-bore manifold systems, STEP-XPRS fracturing spreads, fluid pumping for well stimulation, and nitrogen services for pipeline commissioning, decommissioning, pigging and purging.
Product overview
STEP Energy Services is a North American energy services company offering a comprehensive portfolio of completion and stimulation services. The company operates as a unified services platform with four core service lines: coiled tubing services (including COIL+™ branded advanced operations, STEP-conneCT data monitoring technology, and GO Pin Adapter Cable Heads), hydraulic fracturing services (including Next-Generation Hydraulic Fracturing with dual-fuel technology, Large-Bore Manifold Systems, and STEP-XPRS Spread equipment), fluid pumping services, and nitrogen industrial services. Founded in 2011 as a specialized deep-capacity coiled tubing company, STEP has grown to serve clients across the Western Canadian Sedimentary Basin and key U.S. basins including the Permian, Eagle Ford, Bakken, and DJ-Niobrara.
Differentiator
Problem solved
Functional benefit
Brands
- COIL+™: Deep-capacity coiled tubing technology and service offering for well completions and intervention projects.
- STEP-conneCT
- GO Pin Adapter Cable Heads
- STEP-XPRS Spread
- Next-Generation Hydraulic Fracturing
- Large-Bore Manifold Systems
Products and services
- Coiled Tubing Services
Quantifiable outcome
- Dual-fuel fleet (78% of total horsepower) displaced approximately 44.1 million liters of clients' diesel in 2024
- +1 more outcomes
Companies that use STEP Energy Services
Customer profileSegments1 record
Ideal customer profiles1 record
STEP Energy Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
STEP Energy Services partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Women Building Futures (WBF)minorSTEP Energy Services partners with Women Building Futures (WBF), an organization supporting workforce development for women in skilled trades. STEP serves as both an Employer of Choice and WBF's first-ever Trainer of Choice, gaining access to WBF's recruitment network while delivering its Class 1 driver training program to prepare women for field-based roles in the energy industry.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
STEP Energy Services competitors and assessment
Company assessmentBroad incumbents
- Halliburton: Global oilfield services major offering fracturing, coiled tubing, and a full portfolio of upstream services. Operates in all of STEP's basins at significantly larger scale but with overlapping product offerings, especially in pressure pumping.
- SLB (Schlumberger): World's largest oilfield services company with extensive coiled tubing, stimulation, and digital offerings. Competes with STEP in coiled tubing services globally and in the Permian, while offering much broader services portfolio and geographic reach.
- Baker Hughes: Global energy technology and oilfield services company providing fracturing, well intervention, and production solutions. Comparable on hydraulic fracturing fleet and pressure pumping technology, with overlapping customer base among large E&Ps.
Direct peers
- Calfrac Well Services: Calgary-based pressure pumping and coiled tubing provider operating across the WCSB, US, and Argentina. Direct competitor across fracturing, coiled tubing, and fluid pumping services to North American E&P operators, with overlapping basins and customer base.
- Trican Well Service: Calgary-based oilfield services company providing pressure pumping, coiled tubing, and nitrogen services across Canada and the Middle East. Directly comparable service lines, customer base, and North American geographic footprint.
- NexTier Oilfield Solutions: US-focused completion and wellsite services provider with hydraulic fracturing, wireline, and sand handling offerings. Closely comparable frac spread operations and pressure pumping customer base, particularly in the Permian.
- ProPetro Holding Corp. Permian-focused hydraulic fracturing and completion services provider. Direct competitor in next-generation, dual-fuel and electric frac fleets serving Tier 1 US E&P operators in the same core basin as STEP's US operations.
- Liberty Energy: US hydraulic fracturing and completions services company with strong natural gas-powered fleet positioning. Closely comparable on dual-fuel technology adoption and target customers in the Permian and other US shale plays.
- Patterson-UTI Energy: US-based land drilling and pressure pumping provider with significant hydraulic fracturing operations in the Permian and other US basins. Direct competitor on fracturing services and scale, though with a stronger drilling focus than STEP.
Emerging players
- Core Laboratories: Reservoir description and production enhancement services provider for the global upstream industry. Adjacent to STEP's coiled tubing and intervention work through reservoir diagnostics and wellbore monitoring; serves overlapping E&P customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
STEP Energy Services social profiles
Digital presenceSTEP Energy Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
STEP Energy Services leadership team
Management profileNumber of profiles
Profiles19 records
STEP Energy Services subsidiaries and ownership
Company hierarchySubsidiaries1 record
STEP Energy Services funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
STEP Energy Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about STEP Energy Services
What does STEP Energy Services do?
STEP Energy Services provides deep-capacity coiled tubing, hydraulic fracturing, fluid pumping, and nitrogen industrial services to North American oil and gas exploration and production (E&P) operators. Services include advanced coiled tubing with COIL+™ technology and STEP-conneCT real-time data acquisition, next-generation hydraulic fracturing with dual-fuel (natural gas) powered fleets, large-bore manifold systems, STEP-XPRS fracturing spreads, fluid pumping for well stimulation, and nitrogen services for pipeline commissioning, decommissioning, pigging and purging.
Is STEP Energy Services a public or private company?
STEP Energy Services is a private company. It is classified as private equity controlled and is currently acquired.
When was STEP Energy Services founded?
STEP Energy Services was founded in 2011. It employs 501 to 1,000 people.
Where is STEP Energy Services based?
STEP Energy Services is headquartered in Calgary, Canada, in the North America region.
How does STEP Energy Services make money?
Three revenue lines are on record. Coiled Tubing Services are the primary driver. The others are hydraulic Fracturing Services and fluid and Nitrogen Pumping Services.
Who are STEP Energy Services's main competitors?
Broad incumbents on record are Halliburton, SLB (Schlumberger) and Baker Hughes. Direct peers are Calfrac Well Services, Trican Well Service, NexTier Oilfield Solutions, ProPetro Holding Corp., Liberty Energy and Patterson-UTI Energy. Core Laboratories is listed as an emerging player.
Does STEP Energy Services have an API?
No public API is recorded for STEP Energy Services.
What industry is STEP Energy Services in?
STEP Energy Services's product category is Oilfield Services. Its primary akta.pro industry code is EUALABAF, Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing), with a secondary code of EUALABAE, Well Intervention & Wireline Services (Slickline, E-line, Coiled Tubing). Its NAICS code is 333132 and its SIC code is 1389.