A major goal for Peak Completions Technologies is growth. And, according to Kerry Hatley, vice president of operations for Peak Completions, the company has remained focused on the task at hand. “Peak was founded in 2003; by 2006 we had two locations in Texas and a total of 12 employees,” he explains. “Today, we have 21 locations worldwide and 239 employees.”
Peak Completions specializes in multilateral completion technologies for oil wells. Though it offers conventional techniques, such as vertical applications, Peak Completions has come to excel at the design, installation and operation of horizontal completion tools – a revolutionary technology. “We don’t just concentrate on the open-hole and cement completions,” Hatley adds. “We also have a full line of cased-hole applications and conventional tools.”
A distinguishing characteristic of Peak Completions is its willingness to customize technology for clients. According to Hatley, this ease of customization powered the company’s growth over the last eight years. “When we enter a client’s office, we don’t ask them pick a product out of a catalog,” he explains. “Instead, we ask the client how they want to execute the project. What is their vision? How do they see the project completed? From there we design the product around the client’s needs.”
Although Peak Completions is relatively new to the drilling industry, the company has witnessed seismic shifts in the field regarding business and technology. “Technology in our industry is quick to evolve, and there are always new areas of drilling activity being popularized – both in the United States and abroad,” Hatley notes. “In order to succeed, we have to adapt quickly.”
According to Hatley, in the time between 2003 and 2006, horizontal drilling became the most sought-after drilling technology.
“We saw rapid growth as people decided to go sideways,” he adds. “We had the technology already in place and experienced a huge spring of growth during that time.”
Staying ahead of the technology curve has been a practice since the firm’s inception. With an eagerness to customize technology for clients, Peak has developed an insight for what the market is missing – in terms of technology – and in what direction the industry is heading.
“When a new area for drilling is realized, or a new drilling application is utilized, we’re very good at coming in and developing products that can make the completion job easier for the client,” Hatley says. “That has really been a huge part of Peak’s growth. The evolution in technology has forced us to grow.”
Growth for Peak Completions means worldwide expansion. As Hatley explains, the company recently finished a successful dual-horizontal completion in China, the first of its kind for the country. Peak also has completed projects in Canada, Indonesia and Russia. Going forward, the company plans to implement its completion technology in Saudi Arabia and Poland.
“One of our largest growth loads in 2011 will be in the international market,” Hatley says. “We’re seeing an increase in activity levels abroad, and the technology that we’ve developed is ideal for many of those projects.”
Staying abreast of technologies has proven to be beneficial for Peak Completions. However, according to Hatley, the company credits its employees for years of success. “Our biggest asset is our people,” he says. “Because of our people, we can really adapt to a customer’s needs and give them the support they desire.”
Peak takes pride in its engineering team and operational expertise – many of whom have more than 35 years of experience with packer technology.
“Because of the experience and skill level of our designers and engineers, we have agility in the marketplace,” Hatley says. “We’ve had instances that called for a 24-hour turnaround. There’s no better customer support than satisfying a client’s needs.”