This week’s buyers: FTS International

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Source: DollarPhotoClub

FORT WORTH, Texas – FTS International (FTSI), the largest independent well completion service company in North America, announced today that it has completed the acquisition of substantially all the assets of J-W Wireline Company (J-W Wireline). The close of this acquisition increases FTSI’s wireline capacity more than tenfold and extends wireline service to all locations where the company currently offers hydraulic fracturing services, including the Permian Basin; Eagle Ford, Marcellus, Utica and Haynesville shales; and various mid-continent plays.

The acquisition of substantially all of the assets of J-W Wireline, one of the largest independent cased-hole wireline companies in North America, provides a national wireline footprint to FTSI’s North American well stimulation fleet, which has more than 1.6 million hydraulic horsepower. FTSI and J-W Wireline customers can now benefit from a more comprehensive and efficient bundle of well completion services, including vertical and horizontal (pump down) perforating, comprehensive cased-hole logging services including cement bond logs and production logging, slickline, braided line, tubing conveyed perforating (TCP), pipe recovery and mechanical services.

“This acquisition provides us several key opportunities,” FTSI Chief Executive Officer Greg Lanham said. “Partnering the acquired wireline units with our existing stimulation fleets will allow us to reduce wireline-related downtime for our customers while increasing the utilization of our equipment.”

The acquisition includes approximately 70 active wireline units, related district operation locations, a manufacturing facility and a training facility.

With the completion of the transaction, approximately 400 J-W Wireline employees are joining FTSI, including a wireline management team with deep industry experience.

Mr. Lanham added, “This acquisition places us even more securely among the top well completion service companies in North America as we continue to add scope and scale to the services we provide our customers.”

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