Enterprise Group’s Hart Oilfield Rentals: Custom, Cost-Effective On-Site Infrastructure Solutions

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As a key component of parent Enterprise Group, Hart Oilfield Rentals brings a unique business approach to the group; just as other subsidiary’s Westar Oilfield Rentals, Calgary Tunnelling and Artic Therm.

Simply, if you are building a mining or oil business Hart rents customized equipment for project sites, drilling & completions and facilities that require mobile infrastructure.

It makes zero sense to expend valuable capital to purchase generators, offices, WC’s etc. As well, each project is different so flexibility, customization and ease of transport is key.

“Our large competitive advantage is the ability to what we refer to as ‘combo technology,” states Joel Bardwell, Senior Manager at Hart. “Whether on a skid or one of our proprietary portable trailers, we can deliver not only the equipment required, but customize it to be the most cost effective. Customers appreciate the approach and with our ongoing R&D and patent/patent pending profile, both served us well during the downturn and positions us well for the rapidly increasing business, both from previous and new clients.”

Hart currently has 6 locations are strategically located throughout west central and northern Alberta and northeastern British Columbia. These 6 locations have allowed Hart to establish 6 complimentary “service circles” that slightly overlap and allow Hart to deliver oilfield site set-up services and equipment rentals efficiently to its customers as well as respond quickly to requests for service or repairs to its equipment when required.

Early on, Hart realized that the uniqueness of its approach warranted patent filings for equipment as well as industrial designs. With approximately 25 equally divided between Canada and the US, the practice both cements Hart’s reputation as an innovator as well as protect the Company and Enterprise shareholders from interlopers. There are always interlopers. It should also be noted that Hart does not sell the custom equipment. Hart is constantly developing equipment to add to its robust and state of the art rental pool: And all with safety the primary consideration.

Just as with all the Enterprise Group’s subsidiaries, attention to detail is a given. Reactive and proactive to customer needs is what cuts it out of what is already a small herd. Whether resource, municipal needs, pipelines or any other infrastructure pursuit, that word—infrastructure –should be reflected to a greater or lesser degree in every portfolio. US peers are hitting new highs and others, such as Enterprise’s share price is being wrongly assaulted by a volatile oil price.

The bottom line is that over the years Enterprise has made savvy, money making purchases and sales. TC Backhoe sold in 2016 for approximately C$20 million. The Company was purchased in 2007 for C$12 million and under the Enterprise umbrella generated $150 million. The sale was done during the recent downturn, but had been planned previously and drastically lowered and improved the Company’s financials.

Having successfully steered through a blistering downturn, which seems to have unfairly punish a stock that has a breakup of C$0.85 but is trading at C$0.30, it seems a good addition to a junior portfolio.

Investors will also note that as the Company is traded on the TSX that adds to a list of bonafides to Enterprise that investors would be wise to take stock.