DWS' Crews, Strategy Allow for Prosperous Q1

ZELIENOPLE, Pa. - March 10, 2015 - PRLog -- Despite industrywide concerns over commodity prices, Pennsylvania-headquartered Deep Well Services (DWS) continues a strong track record of record-breaking growth in the first quarter 2015.

The oilfield service company achieved its all-time monthly high for revenues in January ─ $3.2 million ─ and its February YTD revenues were 32 percent higher than projected. So far, the company's earnings are 240 percent higher than budget. That's thanks, in part, to its reputation for unmatched safety, personnel and top-tier equipment.

"We are very busy compared to competitors," DWS CEO Mark Marmo says. "Our people make the difference and have helped us maintain our success. We have the best crews and equipment in the industry."

Innovative approaches, such as strategic alliances that allow DWS to offer package deals to save customers time and money, have proven critical as E&P companies search for services to improve safety and profitability. DWS successfully completed eight jobs in February through a strategic alliance with Wellsite Rental Services.

The oilfield service company has experienced rapid and ongoing growth, from revenues of $14.2mm for 2013 to more than $27mm for 2014. The company, which now employs more than 140, launched aggressive plans this year to add more new equipment, fueling job and revenue growth.

The company invested in more standalone snub units and an additional service rig ─ all designed to make the region's increasingly high-pressure wells safer. In January, DWS brought on an additional 285K standalone snubbing unit and a fourth service rig ─ one with a 112-foot, 265,000-pound mast ─  a sign of the company's overall growth. The "next generation" 285K unit is safer, faster and has a smaller footprint on a well pad than rig assist work.

The company also plans to add  a 15k- 250 standalone snubbing unit this year, and the expanded fleet will require additional personnel, up to 190 employees total by the end of 2015.

Oilfield service company Deep Well Services furnishes service rigs and rig assist/standalone snubbing units and has a roustabout line of business. All of DWS' industry-leading equipment is fabricated to facilitate the completion of Marcellus and Utica wells, and the company is the only snubbing company headquartered in Pennsylvania. More information is available at deepwellservices.com.