Debt Reduction
Net debt decreased significantly to $44 million from approximately $85 million in the prior quarter, reflecting effective financial management.
Innovation in Technology
Introduction and positive client response to NGx, Canada's first 100% natural gas reciprocating engine designed for fully natural gas-powered fracturing operations.
Operational Efficiency
High utilization levels and strong client relationships maintained despite industry shifts, with continued growth in the adoption of new technology like Coil Plus for extended lateral mills.
Positive Market Positioning
STEP holds approximately a 30% market share in the Montney and is well-positioned to capture anticipated growth in the fracturing market in Canada.