Inc.: Ward Williston among fastest growing companies
By JOSEPH SZCZESNY
Of The Oakland Press
BLOOMFIELD TWP. -- A Bloomfield Township-based oil company has made it onto Inc. magazine's list of the nation's fastest growing energy companies. Ward Williston Oil Co. is among the top 50 fastest growing energy companies in the U.S., according to Inc.com, which recently posted its closely watched annual ranking of the 5,000 fastest-growing private companies in the country.
The magazine reported that Ward Williston grew by 298 percent in the past year. Ward Williston also enjoyed a 217.5 percent growth in a three-year period, according to the magazine's calculations.
"It's truly an exciting honor and we are all thrilled with the ranking," said Ward Williston President Laurie Cunnington. "This is something our whole company has been working toward and we are all very happy for the recognition."
Ward Williston has been in the business of oil since 1952 with operations in multiple states, and has stepped up its drilling activity as the price of oil has increased.
The company drills for oil and provides transportation, production, rentals and consulting services for other oil producing companies.
"Now we have over 100 people working for us. We're drilling in Michigan and North Dakota, as well as Colorado," said Thomas Cunnington, husband of Laurie and the firm's chief executive officer. "When we started out, there was one service company in North Dakota. So we had to start our own service company. We're both an 'E&P' company, exploration and production, plus we have a service organization in the company. We take care of our own well and other people's wells."
The annual list compiled by Inc. offers a broad look at critical elements of the economy by measuring the growth of entrepreneurial companies, startup companies and companies in expanding sectors such as energy.
Companies on the list reported aggregate revenue of $185 billion and median three-year growth of 147 percent.
In addition, companies listed on the 2008 Inc. 5000 were engines of job growth, having created more than 826,033 jobs since they were founded. A complete list of results of the Inc. 5000 can be found at www.inc5000.com.
Copyright 2009 Ward Williston Oil Company.
All rights reserved.