X-TORC Energy Services LLC: Company Profile

Background

Overview

X-TORC Energy Services LLC, established in 2015, is a privately held company specializing in torque and test services within the oil and gas industry. The company is headquartered in Kilgore, Texas, and operates across East, West, and South Texas, as well as in New Mexico, Louisiana, Oklahoma, and the Northeast.

Mission and Vision

X-TORC Energy Services is committed to delivering high-quality torque and test services, emphasizing a "People First" culture. The company aims to provide value-added services and technologies tailored to meet customer needs, positioning itself as the "go-to" torque and test service provider in its operational regions.

Primary Area of Focus

The company's primary focus is on flange management and quality control, specializing in blowout prevention. X-TORC Energy Services utilizes state-of-the-art intrinsically safe technologies, such as the DataTorc Control System, which digitally records and graphs torque applied to flange bolts during nipple-up operations. Additionally, the company offers a fleet of 1 bpm hydrostatic test pumps equipped with digital pressure recorders to ensure efficient and accurate pressure testing of blowout preventer (BOP) equipment.

Industry Significance

X-TORC Energy Services has established itself as a significant player in the torque and test services sector of the oil and gas industry. Its innovative approach, particularly the development of the DataTorc digital flange-based torque recording system, demonstrates a strong technological edge that enhances service offerings and differentiates the company in competitive bidding processes.

Key Strategic Focus

Core Objectives

• Innovation in Service Delivery: Pioneering the DataTorc digital flange-based torque recording system to enhance service efficiency and accuracy.

• Customer-Centric Approach: Maintaining a "People First" culture to ensure tailored solutions that meet specific client needs.

• Geographic Expansion: Extending service coverage across multiple states, including Texas, New Mexico, Louisiana, Oklahoma, and the Northeast.

Specific Areas of Specialization

• Hydrostatic Pressure Testing: Conducting pressure tests to verify the integrity of pipelines and facilities.

• Torque Wrenching: Applying precise torque to flange bolts to ensure proper sealing and prevent leaks.

• Digital Chart Recording and Monitoring: Utilizing digital systems to record and monitor torque application, enhancing data accuracy and traceability.

• Digital Flange Torque Recording: Implementing advanced technologies to digitally record torque applied to flange bolts during operations.

• Pipe/Tubing Testing: Assessing the structural integrity of pipes and tubing to prevent failures.

• Valve Greasing and Flushing: Maintaining valves to ensure smooth operation and prevent corrosion.

• Chemical Pumping: Injecting chemicals into systems to facilitate various processes, such as cleaning or corrosion inhibition.

• H5/H15 Injection Testing: Performing injection tests to evaluate the performance of equipment under specific conditions.

• Knuckleboom Crane Services: Providing crane services for lifting and positioning equipment.

• Frac Hit Mitigation/Offset Pumping: Implementing strategies to mitigate the effects of hydraulic fracturing on neighboring wells.

• Rig Up/Rig Down Crews: Assembling and disassembling drilling rigs as needed.

• Pipeline/Facility Hydro Testing: Conducting hydrostatic tests on pipelines and facilities to ensure structural integrity.

Key Technologies Utilized

• DataTorc Control System: A proprietary digital flange-based torque recording system that enhances the accuracy and efficiency of torque application and monitoring.

• Digital Pressure Recorders: Devices integrated into hydrostatic test pumps to provide precise pressure measurements during testing.

Primary Markets Targeted

X-TORC Energy Services primarily serves the oil and gas industry, focusing on regions with active drilling and production operations, including Texas, New Mexico, Louisiana, Oklahoma, and the Northeast.

Financials and Funding

Funding History

As a privately held company, X-TORC Energy Services has not publicly disclosed detailed funding history or financial statements. However, the company has demonstrated significant growth since its inception in 2015, expanding its service offerings and geographic reach.

Estimated Revenue

The company's revenue is estimated to be in the range of $25 million to $50 million, reflecting its established presence and operational scale within the industry.

Utilization of Capital

While specific details on capital utilization are not publicly available, it is reasonable to infer that funds have been allocated towards:

• Technology Development: Investing in the creation and enhancement of proprietary systems like DataTorc.

• Equipment Acquisition: Purchasing and maintaining specialized equipment for torque and test services.

• Geographic Expansion: Establishing operations in multiple states to broaden market reach.

Pipeline Development

Key Pipeline Candidates

X-TORC Energy Services focuses on developing and maintaining a robust pipeline of service offerings, including:

• Advanced Torque and Test Services: Continuously improving and expanding torque and test services to meet evolving industry standards.

• Technological Innovations: Developing new technologies to enhance service efficiency and accuracy.

Stages of Development

The company is actively engaged in the development and deployment of its proprietary technologies, such as the DataTorc Control System, and is continually expanding its service offerings to meet market demands.

Target Conditions

X-TORC Energy Services aims to address the following conditions through its pipeline development:

• Operational Efficiency: Enhancing the efficiency of torque and test services to reduce downtime and costs.

• Safety Compliance: Ensuring all services meet or exceed industry safety standards.

• Market Expansion: Entering new geographic markets to increase service coverage.

Anticipated Milestones

While specific timelines for upcoming milestones are not publicly disclosed, the company is expected to continue:

• Technological Advancements: Releasing updated versions of the DataTorc system with enhanced features.

• Service Expansion: Launching new service offerings to meet emerging industry needs.

Technological Platform and Innovation

Proprietary Technologies

• DataTorc Control System: A pioneering digital flange-based torque recording system that provides real-time data on torque application, enhancing accuracy and traceability.

Significant Scientific Methods

• Digital Torque Recording: Utilizing digital systems to record torque applied during operations, improving data accuracy and reducing human error.

• Hydrostatic Pressure Testing: Employing advanced pressure testing techniques to ensure the integrity of pipelines and facilities.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed, the company's focus on digital systems suggests potential integration of AI for data analysis and decision-making processes.

Leadership Team

Key Executives

• Gene L. Johnston II: Principal and Owner

• Alex Pearce: South Texas Operations

• Chad Trimble: East Texas Operations

• Andy Lowe: West Texas Operations

Key Contributions

The leadership team has been instrumental in:

• Technological Innovation: Developing the DataTorc Control System.

• Operational Expansion: Establishing operations across multiple states.

• Service Diversification: Broadening the range of services offered to meet client needs.

Competitor Profile

Market Insights and Dynamics

The torque and test services market within the oil and gas industry is characterized by:

• Technological Advancements: Continuous innovation in service delivery and equipment.

• Safety Regulations: Strict adherence to safety standards and regulations.

• Geographic Expansion: Companies expanding operations to new regions to capture market share.

Competitor Analysis

Key competitors in the torque and test services sector include:

• Team Industrial Services Inc.: A leading provider of industrial services, including torque and test services.