Energy Equipment and Services
Company Overview of FTS International Services, LLC
FTS International Services, LLC, together with its subsidiaries, provides oil and natural gas well stimulation services to the oil and gas industry in the United States. The company operates 34 hydraulic fracturing fleets that offer hydraulic fracturing services to exploration and production companies in the Haynesville Shale, the Eagle Ford Shale, the Marcellus/Utica Shale, the Permian Basin, the Barnett Shale, and the Bakken Shale. As of December 31, 2012, its fleet had 1,579,500 horsepower. The company, formerly known as Frac Tech Services, LLC, is based in Fort Worth, Texas. FTS International Services, LLC is a subsidiary of FTS International Holdings, LLC.
777 Main Street
Fort Worth, TX 76102
Key Executives for FTS International Services, LLC
Chief Executive Officer and Director
President and Chief Operating Officer
Chief Financial Officer and Executive Vice President
Vice President and General Counsel
Compensation as of Fiscal Year 2014.
FTS International Services, LLC Key Developments
FTS International Services, LLC Names Ken Kenner as New Vice President of Organizational Learning & Development
Jul 2 14
FTS International Services LLC has named Ken Kenner as its new Vice President of Organizational Learning & Development. Mr. Kenner has worked in the pressure pumping business for 40 years and in the area of training and development for the last 24 years. Mr. Kenner previously worked as the director of global training for a major oilfield service provider, where he created and executed a comprehensive employee development strategy and was responsible for career advancement programs and competency for both technical and non-technical training worldwide. Ken will lead FTS International Services' efforts to implement comprehensive training programs that enhance the skills of its people and keep it on the cutting edge of operational excellence and safety.
FTS International Signs 15-Year Joint Venture with Sinopec Group
Jun 20 14
FTS International said it has signed a 15-year joint venture with Sinopec Group in a first-of-its-kind partnership that brings FTS International's expertise in hydraulic fracturing to China's vast shale formations. The joint venture company, called SinoFTS Petroleum Services Ltd. will be owned 55% by Sinopec and 45% by FTSI upon incorporation in China. Financial terms were not disclosed.
FTS International Services Announces the Expiration of its Tender Offer for Any and All 7.125% Senior Notes Due 2018
Nov 14 13
FTS International Services, LLC announced the expiration of its previously announced cash tender offer for any and all of the outstanding 7.125% Senior Notes due 2018 issued by FTSI Services (f/k/a Frac Tech Services, LLC) and FTS International Bonds Inc. (f/k/a Frac Tech Finance Inc.), as co-issuer. On October 30, 2013, FTSI Services purchased $296,643,000 in principal amount of the Notes, representing 98.88% of the outstanding principal amount of the Notes, that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on October 29, 2013. Payment for the Notes pursuant to the Final Settlement is expected to be made on November 14, 2013. At the Final Settlement, Holders who validly tendered their Notes after the Early Tender Time but prior to the Expiration Time will receive the Tender Offer Consideration of $1,077.50 per $1,000 principal amount of the Notes.
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