CWC Well Services Corp. ("CWC") is pleased to announce that it has made the 2012 TSX Venture Top 50 Companies list. There are approximately 2,250 TSX Venture Exchange listed companies and CWC placed fifth in the Diversified Industries category being recognizing for its strong performance in the areas of market capitalization growth, share price appreciation, trading volume and analyst coverage. "We are extremely proud of what CWC has accomplished and the recognition that we have received today by the investment community," said Duncan Au, President and Chief Executive Officer. "We look forward to greater accomplishments in 2012 and beyond." CWC's shares trade on the TSX Venture Exchange under the symbol "CWC".
CWC provides service rigs, coil tubing, snubbing and well testing to established oil and gas producers in the Western Canadian Sedimentary Basin ("WCSB"). These oilfield service activities are necessary to complete newly drilled wells and to maintain ongoing servicing of producing wells. CWC's services are provided through 2 divisions: Well Servicing and Other Oilfield Services.
The Well Servicing division is comprised of service rigs and coil tubing. With 65 service rigs, CWC is the sixth largest well servicing company offering the youngest and most technologically advanced service rig fleet in the WCSB. These service rigs provide completions, workovers and abandonments with depths ranging from 1,500 to 5,000 metres and are well positioned throughout the WCSB with operating locations in Grande Prairie, Red Deer, Lloydminster, Provost and Brooks, Alberta and Weyburn, Saskatchewan. CWC also operates 8 coil tubing units to a maximum capacity of 2 inch coil and depth rating from 1,500 to 4,000 metres. CWC's Well Servicing division is well positioned for the changing demands of our oil and gas customers for horizontal drilling and deeper depth capabilities.
The Other Oilfield Services division is comprised of snubbing units and well testing packages. With 8 rig assist and stand-alone snubbing units, 7 of which operate at 5,000 psi, CWC is one of the larger snubbing companies in the WCSB. All 5,000 psi snubbing units are equipped with the most effective egress safety systems that are above and beyond the established safety standards in the industry. CWC also operates 12 well testing packages ranging from 200 to 285 psi trailer-mounted pressure tanks and 18 metre freestanding flare stacks.