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CWC Energy Services Corp. (TSXV: CWC)
CWC is headquartered in Calgary and has operations in both Canada and the US. It owns and operates 22 drilling rigs (13 triples and 9 doubles), 7 in Canada and 15 in the U.S. It also operates 143 service rigs in Canada, making it one of the largest service rig companies in Canada. It has eight operating bases in Alberta and two bases in the US: Denver, Colorado and Casper, Wyoming. The market cap of the company is approximately $104 million with 2 significant institutional shareholders: Brookfield Business Partners and CPP Investment Board. Management and Board Directors are also significant shareholders. The Company’s shares trade on the TSX Venture Exchange under the symbol “CWC”.
Duncan Au, FCPA, FCA, CFA, ICD.D
President, CEO & Director
Duncan is a Fellow of Chartered Professional Accountants, Chartered Financial Analyst, and holds an ICD.D designation with over 32 years of corporate finance and energy services experience. In addition to his role at CWC, Duncan is President & CEO of JAFETICA Capital Inc., a private equity and corporate finance consulting practice that specializes in energy service opportunities. In 2005, Duncan was President & CEO of his own private energy service company, Richmound Energy Services L.P., which was sold to a public company that later became Essential Energy Services Ltd. (“Essential”). From 2006 to 2008, Duncan took on the role of Vice President, Business Development and Chief Financial Officer of Essential and helped build this public company from an enterprise value of zero to $410 million before departing. From 1998 to 2004, Duncan held Vice President & Director positions in corporate finance with both Deloitte and Ernst & Young where he led financings and mergers and acquisitions in the energy services industry. He was a Past Chairman of the Energy Services Association of Canada (“Enserva”) and served on the Board of Directors of the Canadian Association of Energy Contractors (“CAOEC”) as well as on the Board of Governors for the Canadian Energy Executive Association (“CEEA”). He was the Chairman of the 2018 PSAC STARS & Spurs Gala Committee, an industry fundraiser in support of STARS Air Ambulance. Duncan holds a Bachelor of Commerce degree from the University of Alberta.