Deloitte’s Best Managed Companies in Oil and Gas

On March 10, 2015, Deloitte announced its list of 2014 winners for the Best Managed Companies awards program. Established in 1993, the program symbolizes corporate success by celebrating Canadian companies that are focused on their core vision, creating stakeholder value, operating at peak performance levels, and excelling in the economy both at home and abroad. However, the application process is more than simply filling out a form—it’s a journey. In the second phase of the process, coaches from Deloitte and CIBC offer professional advice and counsel applicants on their presentations. Winners earn the Gold Standard after they have maintained their Best Managed status for four consecutive years. The Platinum Club recognizes companies that have maintained their Best Managed status for seven years or longer.

The winners of this year’s awards get particular recognition for exceptional business performance, outstanding leadership in the marketplace, and continuing to invest during the recession. Peter E. Brown is the National Co-Leader of Canada’s Best Managed Companies program and Senior Practice Partner at Deloitte. “Investing involves risk because the outcome is unknown,” says Brown. “However, remaining stagnant poses a greater risk … because investing is critical to growth.”

Criteria for the program is explicit. Companies must generate revenues greater than $10 million; manage finances effectively during changing market conditions over the past three consecutive years; and be a Canadian-owned public company or income trust with fewer than 50 percent of their shares traded publicly, OR a Canadian-owned closely-held private company (less than 100 shareholders)—with further conditions for Private Equity (PE) firms.

Oil and gas companies that are excelling and winning awards include AFD Petroleum and Integral Energy Services Ltd., Pennecon Limited, Oceanex Inc., McDougall Energy Inc., Strike Group Inc., G. J. Cahill, and Wilsons.

Best Managed

AFD Petroleum is a leading independent supplier of bulk fuel, lubricants, and storage tanks across Western Canada, Alaska, and Texas. “Achieving such a prestigious award is a true testament to our employees, who demonstrate daily the highest levels of innovation, drive and leadership,” states their website about receiving the award. “We are also extremely thankful for our loyal customers and suppliers.”

Integral Energy Services Ltd. provides electrical, instrumentation, and project management offerings. They are proud to be an active employer in the Alberta Apprenticeship Program, and an active member in the Resource Industry Suppliers Association (RISA) and the Canadian Heavy Oil Association (CHOA). They have worked with a number of sectors within the industry such as Irving Oil, the Canadian Oil Sands, StatoilHydro, and Suncor Energy Inc.

Gold Standard

In relation to the oil and gas industry, Pennecon Limited heads a number of projects in Alberta and Newfoundland. David Mitchell, CEO of Pennecon, says, “This award belongs to everyone at Pennecon. It’s our 1,100 skilled and dedicated employees who give our business a sense of purpose, who have shaped our culture, and who have groomed us to be the industry leader we are today.”

Oceanex Inc. provides intermodal transportation services to Newfoundland and Labrador, and caters to all sectors of the economy. They have recently added Oceanex Connaigra to their fleet, which is the largest Canadian flagged ConRo ship in the country. Their website states, “This award is truly a testament to the hard work and dedication of all employees. Congratulations to all!”

McDougall Energy Inc. provides heating oil, propane, gasoline, diesel, and aviation fuels. “We are incredibly honoured to be recognized as a Gold Standard winner by Canada’s Best Managed Companies judges, coaches, and sponsors,” says President Darren McDougall. “Every team member at McDougall Energy has contributed to this award in some way.”

A leading energy service and construction company based in Calgary, Alberta, Strike Group Inc. is focused on servicing the oil and gas industry throughout the Western Canadian Sedimentary Basin. “Strike Group Inc. is proud to be a Gold Standard winner in 2014, and a Canada’s Best Managed Companies winner for the 7th time,” Strike states on social media. “The Strike executive would like to thank all of our hard-working employees and dedicated customers for being a part of the Strike team.”

Platinum Club

G J Cahill’s involvement in the oil and gas industry began in 1990 with the Hibernia project. Since then, Cahill Group of Companies has successfully completed module fabrication and assembly for many projects including the Voisey’s Bay Project and Husky Energy’s North Amethyst Offshore Oil Development. The Cahill Group states on its website, “GJ Cahill is now a proud Platinum Club member. This is very much an honor for the entire Cahill Group of Companies, only made possible by its loyal and dedicated group of employees.”

Wilsons is one of the leading fuel suppliers in Atlantic Canada, as well as home heating and security systems. The company operates its own gas stops and distributes fuel to dealers in Nova Scotia, New Brunswick, Newfoundland, and Prince Edward Island. President David C. Wilson says, “Wilsons is proud to be recognized as a platinum member of Canada’s Fifty Best Managed Companies.”

Congratulations to all of the 2014 Best Managed Companies winners, Gold Standard achievers, and Platinum Club members in oil and gas—you are the strength and foundation of our industry.