Schlumberger broadens its reach in Lonkar purchase

One of Red Deer’s corporate success stories has joined the ranks of oilfield services giant Schlumberger Ltd.

Frank Tirpak

One of Red Deer’s corporate success stories has joined the ranks of oilfield services giant Schlumberger Ltd.

The Lonkar group of companies was acquired by Schlumberger effective Nov. 9. A public announcement concerning the sale was not made, but Lonkar president Frank Tirpak said on Tuesday that the deal involved Lonkar Well Testing Ltd., Lonkar Services Ltd. and Lonkar U.S. Ltd.

The purchase price was not disclosed.

Headquartered in Red Deer, Lonkar employs about 330 people and has about 75 active wireline trucks. It operates offices in Alberta, British Columbia, Saskatchewan, the Northwest Territories and Colorado.

“I think we’ve got about 18 different centres,” said Tirpak, who owned Lonkar with his wife Pat.

Claude Durocher, Schlumberger’s vice-president of slickline operations, said Lonkar’s expertise in slickline wireline, cable-conveyed measurement and well-testing services was attractive to his company.

“We have a very limited footprint in these businesses in the Western Canadian marketplace, so the acquisition of Lonkar enables us to extend the provision of these services across the Western Canadian basin.”

Lonkar’s other services are complementary to those provided by Schlumberger, he said, and the two companies have similar corporate cultures.

Tirpak agreed, adding that the ability to offer integrated services is becoming increasingly important.

“It kind of provides all the services that are needed to complete a well and maintain a well,” he said of the combined Lonkar-Schlumberger entity.

Having access to Schlumberger’s global resources will also be beneficial, said Tirpak, including opening the door to new opportunities for expansion and growth.

Lonkar will continue to operate as a stand-alone business, with Tirpak remaining president. He will report to Durocher in Paris.

No significant operational changes are expected for Lonkar, aside from Schlumberger appointing a vice-president of operations and a controller.

Lonkar was founded in 1985 by Dennis Kennett. The Tirpaks and Tim and Lisa Albers bought the business in 1994, with Frank and Pat becoming sole owners in 2006.

Tirpak said his staff has responded positively to the sale, particularly in light of the current economic downturn that has battered the oilpatch.

“To have someone like Schlumberger as a backer, I think it just gives a good frame of mind that you’re working for a very stable company and moving forward.”

Durocher, who was in Houston, Tex., on Tuesday, said despite the industry slowdown his company is optimistic about the future of Canada’s oil and gas sectors.

“In the long term, we’re very confident that the Canadian market will be a major player in the global scheme of things.”

hrichards@bprda.wpengine.com

Just Posted

Despite warnings, plenty of temptations to thieves left in vehicles

Lock It or Lose It campaign still finding plenty of valuables left in plain sight

WATCH: Notley invites central Albertans to “team up” with New Democrats for equitable, prosperous future

NDP leader lashes out against her rival, Jason Kenney, calling him a cheater

Red Deer sees highest rate of fentanyl deaths

47 fentanyl-related deaths in 2018

Why Solar: Canada needs to get its collective house in order

Canada needs to get a grip. The country has one of the… Continue reading

Gardening: Take care when making plant purchases

After a cold February, the longer sunny days and warmer weather triggers… Continue reading

Canadian pair fifth after short program at figure skating worlds

SAITAMA, Japan — Canada’s Kirsten Moore-Towers and Michael Marinaro are fifth after… Continue reading

Director Kim Nguyen tackles financial ‘madness’ in ‘The Hummingbird Project’

TORONTO — As Quebec filmmaker Kim Nguyen tells it, “The Hummingbird Project”… Continue reading

What Disney gets as its $71.3B buy of Fox assets closes

It’s finally complete. Disney closed its $71 billion acquisition of Fox’s entertainment… Continue reading

Opinion: Let’s be heard ‘loud and clear’ during provincial election campaign

By David Marsden During the banquet for Sunday’s Boston Bruins alumni game,… Continue reading

Documentary on Colten Boushie case to open Toronto’s Hot Docs festival

TORONTO — A film examining the case of a young Indigenous man… Continue reading

Most Read