FTS Intl Finally Ready to Launch IPO a Year Later, Seeks $230M

FTS International is the largest private (not publicly traded stock) well completion company in North America. In 2015 FTS fracked EQT’s ginormous Scotts Run 591340 dry Utica well in Greene County, PA producing an initial production (IP) of 72.9 million cubic feet of natural gas per day (see Private Company Fracked EQT’s Monster Utica Well, Working on More). That well is still the reigning champion for highest initial production. In February 2016, FTS sold off their sand hauling business and laid off over 40 people (see FTS Intl Fires All Drivers & Mechanics in Sand Hauling Business). FTS euphemistically called it “adjusting head count.” If you’ve ever been “adjusted,” you know how it lousy it feels. We mentioned that FTS is the largest *private* well completion company in North America. In February 2017, FTS announced it would launch an initial public offering (see FTS Intl, NA’s Largest Private Well Completion Co, Going Public). Since that time–nothing. But the long wait is now over. Earlier this week FTS announced they launched their IPO. The company is floating 15.2 million shares of common stock looking to raise in the neighborhood of $230 million…

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