Join The Discussion

 

Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

read more >

Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

read more >

Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

read more >

Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

read more >

American Airlines' first 787 Dreamliner arrives at D/FW

American is preparing the plane to begin service sometime in the second quarter.

read more >

 

FTS International announces proppant, logistics assets sale
 
A. Lee Graham
Reporter
 
FTS International Inc. of Fort Worth has entered into an agreement to sell all assets of its proppant business and related logistics assets to Fairmount Minerals.
Terms of the transaction were not disclosed.
Proppants such as sand are used to keep hydraulic fractures open when extracting natural gas.
“This is a winning partnership for FTSI, our employees and our customers,” said CEO Greg Lanham in a news release.
“The sale of these assets will enable FTSI to further streamline our business strategy and place greater focus on our core well completion business,” Lanham said.
The deal sees Santrol, a Fairmount Minerals company, supply FTSI’s future proppant needs. Fairmount Minerals, based in Chesterland, Ohio, produces industrial sand.
The transaction is expected to include substantially all of FTSI’s sand mines, raw sand processing plants, resin coating plants, railroad transload sites and various other properties and facilities.
The company said it will retain its “last mile” trucking operations used to transport proppant from transload sites to well locations.
The company will use net proceeds from the sale for debt reduction. The sale is expected to close by the end of third-quarter 2013. 
Acting as financial adviser to FTS in the transaction was Wells Fargo Securities LLC.
FTS International provides well-completion services for the oil and gas industry. More information is available at www.ftsi.com.
 
lgraham@bizpress.net

< back

Email   email
hide
Catch
How 'bout them Cowboys?