Trucks are seen in the yard at Iron Horse Energy Services. (Photo Courtesy Bob Schneider)

By Gates Guarin

Focused on people

Iron Horse Energy Services a local success story that’s still growing

May 20, 2022 | 12:26 PM

MEDICINE HAT, AB – It was a humble beginning for Iron Horse Energy Services.

In 2005 the company started out with just four staff and two pieces of equipment.

Seventeen years later, Iron Horse is one of the largest private companies in Medicine Hat, employing more than 320 people and operating more than 200 pieces of equipment.

Brendon Hamilton, one of the company’s co-founders, says one of the biggest reasons for its success is focusing on its people.

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“We employ a lot of families and put a lot of food on people’s plates so we feel very responsible for those people and we try to make sure the business decisions we make along the road with all those people in mind, it’s a big team here,” he said.

Hamilton admits success hasn’t come easy as the oil and gas industry is known to be a roller-coaster.

In 2014, oil prices crashed due to oversupply and by 2016 West Texas Intermediate had reached its lowest price in 10 years.

Hamilton says good business decisions helped Iron Horse survive the downturn.

“We doubled in size in the last slowdown in 2016. When most everyone is shrinking, we actually, the company doubled in size with equipment and staff, we are kinda backwards from everyone else,” he said. “Try to capitalize in the slow times so {we’re} sitting in a good spot when times are good.”

While a company like Iron Horse has been able to find success internally, Invest Medicine Hat is trying to bring more business to the city which would create more jobs.

Managing director Erik Van Enk says right now the focus is on creating a new “Medicine Hat Advantage” that is not reliant on cheap natural gas.

“When we think about how do we create a new competitive advantage for the region, this carbon capture utilization and storage infrastructure is really, really well aligned with provincial goals and federal goals,” he said. “There’s a lot of grant funding available which we’ve been applying for which we hope to announce positive news on shortly. That type of infrastructure is what industry is looking for now.”

Van Enk says IMH is also working to reduce red tape and keep tax and utility rates low.

Back at Iron Horse, the company is focused on expansion by adding another 40 to 50 employees.

“Staffing is a big issue … not going away. Whether people chose to like or dislike the oil and gas industry, it’s not going away,” Hamilton says.

He adds it’s rewarding to look back and see how far they’ve come.