(TSX:CET) – https://www.cathedralenergyservices.com
In 1998 Cathedral Energy Services (formerly Directional Plus) has provided high performance directional drilling solutions to oil and natural gas exploration and development companies in Western Canada and the USA.
In July 1999 StoneBridge invested in the company and we have worked closely with management on numerous strategic plans, growth initiatives, and equity financings including:
- 2000 Cathedral goes public on the TSX through a reverse takeover transaction.
- 2001 Cathedral established a second division, CAT Downhole Tools. CAT Downhole Tools provides downhole equipment including drilling jars, shock subs and high-performance drilling motors on a rental basis to oil and natural gas exploration and development companies in Western Canada and the Rocky Mountain region of the United States.
- 2002 Cathedral converts to an income trust, completes its first well in the Rockies (Colorado) and expands into Saskatchewan.
- 2003 Cathedral acquired 100% of the issued and outstanding shares of The Directional Company “TDC” and commercializes its proprietary EM MWD tool, exceeding expectations.
- 2005 Cathedral completes the acquisition of three oilfield service companies: Tier One Oil Services Ltd., of Advance Wireline Inc. and Xtreme Wireline.
- 2007 Cathedral announces the commercialization of its G2 system. The G2 system included bi-directional (talk down) communication which allowed for surface control of the tool to change data rates, power levels and data formats. The G2 system provided increased efficiency and power management, which allowed for greater depth capability.
- 2008 Cathedral announced the commercial success of its RDS system which allows the secure transmission of drilling data from the rig site to Cathedral’s Calgary operations centre, enabling management of directional drilling activities in real time from a central location and reduction of field personnel.
- 2009 Cathedral converts from an income trust to a corporate structure and raised $15 Million in a bought deal equity financing.
- 2010 Cathedral opens directional drilling repair/operations facilities in Washington, Pennsylvania and Houston, Texas and releases its initial proprietary FUSION MWD platform with dual telemetry capability.
- 2011 Cathedral develops proprietary mud motor bearing section and expands to Oklahoma City.
- 2012 Cathedral’s drilling development team designs the high performance nDURANCE™ drilling motor series and commercializes the Cathedral rotary pulse tool. Cathedral’s EM MWD tool is the only EM tool in the directional market that works in the US Mississippian Lime.
- 2012 Cathedral closed the acquisition of a private oilfield services business and sets up an operations base in Oklahoma City.
- 2013 Cathedral introduces The CLAW™ motor to the market, Cathedral’s most powerful motor in the nDURANCE™ drilling motor series.
- 2014 The HAWK™ tool is launched, providing vibration monitoring systems to monitor downhole conditions, enabling drillers to make informed decisions in real-time.
- 2015 Cathedral opens a 36,000 square foot facility in Oklahoma City, Oklahoma and Estevan, Saskatchewan operations migrate to a 21,000 square foot facility in Emerald Park, Saskatchewan.
- 2017 Cathedral raised $14.1 million in a bought deal common equity financing.
Cathedral’s sales have grown from approximately $1 Million in 1999 to over $150 Million today by utilizing proprietary technology to achieve superior results.
Rod Maxwell currently serves as the Chairman of the Board of the Corporation.