Flint Energy Services Ltd., Calgary, (Toronto: FES) has consolidated operations and reporting into four business segments as part of its process of streamlining operations.
The new segments are production services, facility infrastructure, oilfield services and maintenance services.
The fluid haul services business unit, previously included in production services, was merged with Flint’s Oilfield Transportation segment to create a new segment called Flint Oilfield Services. The merging of these two businesses combines fleets of approximately 300 and 500 units respectively, providing upstream services to oilfield drilling, and midstream services to production operations. These services include drill-rig and service-rig moving; module, equipment and specialty hauling; fluid handling, pressure and vacuum services and other services.
The tubular management and manufacturing segment was consolidated with the production services segment. This combined group continues to be called production services and remains focused on midstream oil and gas production services.
Flint's existing facility infrastructure segment, which includes its oil-sands construction activities, remains unchanged with Flint’s focus continuing to provide construction management, modular fabrication and field construction services on major construction projects primarily in Edmonton and Fort McMurray, Alberta.
The plant maintenance and other segment will be renamed maintenance services and will include Flint’s 50%-owned FT Services, and Flint's northern aboriginal partnerships that include Mackenzie Valley Construction and SRP Ventures.
Flint president and chief executive Bill Lingard says, “This consolidation of our operations facilitates the closing of some smaller, underperforming locations, and the eventual sale of approximately half a dozen properties. It will also result in a reduction of approximately forty redundant positions in management, administration, supply chain and support services.”
The reorganization ensures a more balanced weighting of conventional oil and gas drilling and production, and heavy oil and oil sands related work across Flint's divisions.
Flint provides integrated products and services for the oil and gas industry.
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