STEP Energy Services Announces Acquisition of Real-Time Data Tool for Milling Operations

Calgary, Alberta (October 16, 2024) – STEP Energy Services Ltd. (“STEP”) is pleased to announce the acquisition of Coil-Link™, the technology underlying the STEP-conneCT downhole tool, from Kobold Corporation (“Kobold”), making STEP the exclusive provider of this innovative tool in North America. Since 2019, STEP had integrated the technology into its coiled tubing operations through rental agreements and purchases of individual units from Kobold. With full ownership, STEP can now oversee every aspect of the tool’s deployment and future customization, ensuring enhanced reliability and a seamless service experience for clients.

The STEP-conneCT tool revolutionizes milling operations by delivering real-time downhole data. Positioned directly behind the milling bit and conveyed via e-line within a coiled tubing string, the tool streams critical insights to the coil cab, helping operators monitor and respond to changing downhole conditions in real time. This capability allows clients to quickly identify, analyze, and address milling challenges, reducing downtime, increasing operational efficiency, and delivering significant cost savings.

“With its proven track record, STEP-conneCT is recognized as the industry-leading tool in real-time milling technology. This acquisition strategically positions STEP as the premier partner for coiled tubing solutions, combining our extensive industry experience with cutting-edge technology to optimize performance,” said Rory Thompson, Chief Operating Officer.

In the coming weeks, STEP will showcase a STEP-conneCT case study each week on LinkedIn, demonstrating how the tool ensures milling success and enables clients to reach total depth with greater control and precision than ever before. Follow to learn more about the benefits using STEP-conneCT or reach out to the team at sales@STEP-es.com for more information.

Email: sales@step-es.com

Website: STEPenergyservices.com