49.3 F
Fort Worth
Sunday, November 29, 2020
Energy FTS International closes transaction with Fairmount Minerals

FTS International closes transaction with Fairmount Minerals

Other News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude oil for...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in Texas later...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the company, reducing...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision to not cut oil production and...
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

A. Lee Graham

Reporter

FTS International Inc. of Fort Worth has closed the sale of substantially all assets of its proppant business and related logistics assets to Fairmount Minerals of Chesterfield, Ohio.

The Fort Worth company has a long-term proppant supply agreement with Fairmount to provide proppant for FTS’ well completion customers.

FTSI said it plans to use net proceeds from the sale for debt reduction. Terms of the transaction were not disclosed.

“The sale of these assets further enables [FTS] to refine the company’s focus on its core well completion business,” said FTS CEO Greg Lanham in a news release.

“We look forward to a long-term partnership with Fairmount efficiently supplying quality proppant for our customers,” Lanham said.

FTS International provides well-completion services for the oil and gas industry. More information is available at www.ftsi.com.

lgraham@bizpress.net

 


close






Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Venezuela judge convicts 6 American oil execs, orders prison

By SCOTT SMITH ASSOCIATED PRESSCARACAS, Venezuela (AP) — Six American oil executives held for three years in Venezuela were found guilty of corruption charges...

Fort Worth firm acquired by Abilene-based Petrosmith

Abilene-based Petrosmith, a leading provider of production equipment and oilfield tubular goods, has acquired the assets of Wellflex Energy Solutions LLC, an engineering, procurement...

Oil companies snag Gulf of Mexico waters for offshore drilling in last bid before Biden transition

In the last opportunity for oil companies to bid on federal Gulf of Mexico waters under a Trump administration, the federal government on Wednesday...

Texas official selected as vice chairman of Interstate Oil and Gas Compact Commission

Railroad Commissioner Wayne Christian was selected to be vice chairman of the Interstate Oil and Gas Compact Commission (IOGCC) at the organization’s virtual meeting....

Alaska loses 3,000 oil, gas jobs during pandemic, price drop

ANCHORAGE, Alaska (AP) — The Alaska Department of Labor and Workforce Development reported that the state has lost more than 3,000 jobs in the...