Energy Inspection Services sees strong future aided by P2Bi’s ‘revolutionary’ financing model

Steve Treadwell, manager and co-founder of Parker, Colorado-based Energy Inspection Services (EIS), knows his company is on a roll when it comes to providing inspection services to the oil-and-gas industry.

Cofounded by Treadwell in 2012, EIS’ inspections are in demand due to the rapidly growing use of hydraulic fracking drilling techniques that are helping energy companies extract more natural gas from their wells.

While EIS provides a variety of services, including surveying, construction management, land acquisition and permitting, it’s the oil-and-gas industry that is “definitely” the company’s biggest client, Treadwell says.

“Certainly, the investment in fracking has provided a huge opportunity for us,” he said.

Fracking’s ability to squeeze gas out of once-played-out wells and from newly-drilled ones is creating a natural gas surplus in America, resulting in the U.S. moving from a net-energy-importing nation to an energy-exporting nation.

An October 2013 report by Environment America said 82,000 new fracking wells were drilled between 2005 and 2013 in 17 states, including Colorado, one of the leading fracking states.

That activity shows little sign of slowing, and Treadwell says that’s good for EIS.

“I think if anything, the government regulation is headed in one direction—and that is more (regulation),” he said.

“There will be an increasing need for inspection and more robust inspection, so we believe there’s a long-term future in what we’re doing.”

Treadwell said EIS, which also has offices in Durango and Hobbs, N.M., has 65-70 inspectors in the field at any one time. The inspectors are self-employed and hired on an as-needed basis that keeps company expenses lower.

But growing a new company is expensive, and Treadwell said EIS has found a partner in P2Binvestor as a reliable ongoing source of needed capital.

“We’ve been working with P2Bi over the last six months or so,” he said. “This has been a time of explosive growth for us, and they’ve been able to bring capital to us on an extremely flexible basis.”

Treadwell said he likes P2Bi’s debt financing model, which can be tapped for cash when needed.

“When we have revenue and invoicing, we can go to P2Bi and get assistance to meet our payroll.”

Treadwell said EIS’ relationship with P2Bi has been a good experience for his fledgling company.

“They are great folks to work with, and they certainly have gone the extra mile to help us get through some tough stretches,” Treadwell said.

“I like their model, and I think it’s a model that will revolutionize small business finance so there are more flexible options for small businesses and startups,” he said. “And that’s what we need in this economy.

Leave a Reply