History of TTC
2018
Early fall the Canadian Oil & Gas industry was in a serious decline. Oil prices remained weak YoY (year-on-year) and no indications on when the industry would see improvement. We decided that this environment, however disappointing, could be a great opportunity for a local company with low overhead to step in and deliver a VALUE product to our customers being pressured by the poor margins due to market conditions.
2019
Oil prices had dropped 10% YOY and the predictions were of a loss of 12,500 energy related jobs. International service companies were scaling back operations and even closing down in Canada. One silver lining was our new locally grown service company was well received by the industry. Key was our business model of focusing on VALUE, helping our customers survive these difficult times.
2020
Covid-19 pandemic exerted more downward pressure on the industry causing further price decline and continuing the negative trends that began in 2018. We continued to invest in building inventory to meet the current business needs and anticipate future growth.
2021
The year began with the easing of restrictions brought on by the pandemic and the beginning of a bounce back in oil prices. TTC was well positioned for the improved industry activity. The future looked bright and with all the inventory growth in the past couple of years it was time to invest in a new facility. A big and exciting step to begin planning our new shop.
2022
Oil price recovery was in full swing and TTC was ready! Construction started on the new facility and was completed in late fall.
2023
Our FIVE YEAR ANIVERSARY! A heartfelt Thank You to all our customers and service providing partners who made this possible!
2024
A significant shift in the Canadian oilfield service sector, where international service companies have scaled back resources to focus on more lucrative international markets as well as restricting access to critical tools. This move by the international service tool companies to limit access and potentially monopolize the Thru Tubing Service Sector (TTC) could have far-reaching implications for competition and pricing in the Canadian O&G service industry. In response, TTC's partnership with Top Oil Tools is a strategic move designed to counteract this monopolistic trend. By combining their strengths, TTC and Top Oil Tools are positioning themselves as a formidable alternative in the market. The emphasis on superior performance and setting new industry standards for Extended Reach Bottom Hole Assemblies (BHAs) highlights our commitment to providing high-quality solutions and enhancing competition. This partnership not only offers an alternative to the industry but also potentially sets a new benchmark for performance in Thru Tubing Services, which is crucial for companies looking for reliable and effective service options. The raised bar in industry standards will force competitors to improve their offerings, benefiting the overall market and potentially leading to better outcomes for clients.