Case Study

Leader Energy Services

The Fire

  • Failed Canadian Coiled Tubing Oilfield Services (“OFS”) Company.
  • Lender foreclosed on assets and persuaded U.S. based OFS client to take and rehab equipment.
  • New “owner” borrowed and spent approximately $5 million on equipment restoration, modifications for U.S. and infrastructure.
  • Company re-starts and is hampered by poor physical location, lack of strategic management, vision and direction.

The Rescue

  • Named Interim CEO, developed, gained approval and implemented a comprehensive strategic and tactical business plan.
  • Successfully moved operations closer to Oklahoma and North Texas producing oilfields.
  • Assessed, approved and assured operating management, regulatory, operation and safety compliance.
  • Encouraged and approved organizational restructuring, including operating, maintenance and sales hires.
  • Developed plan and metrics to reduce capitol costs, achieve cash-neutral position, while increasing sales revenues.
  • Targeted capitol expenditures and focused on higher revenue work that produced positive cash margins.

The Result

  • Achieved operational and maintenance efficiency.
  • Overcame major equipment breakdowns while still increasing sales.
  • Developed a realizable $10 million annual revenue P&L.