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26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

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UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

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Top area CFOs honored

The Fort Worth Business Press honored 13 area chief financial officers today with a luncheon at the Fort Worth Club.

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Fort Worth breaks ground on $8.6 million South Main renovation

Fort Worth Near Southsiders and city officials broke ground Monday on the 18-month rebuild of South Main Street between Vickery Boulevard and West Magnolia Avenue.

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Fort Worth Police association planning 25,000-square-foot offices

The POA, which recently demolished its one-story building at 904 Collier St. near downtown, is planning a five-story replacement.

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Fort Worth's FTS International, Sinopec announce JV agreement

A. Lee Graham

Reporter

FTS International Inc. of Fort Worth and Sinopec Group have entered into a 15-year joint venture agreement culminating a multi-year effort by both companies to bring FTSI’s hydraulic stimulation capabilities to China.

Upon incorporation in China, the joint venture company, SinoFTS Petroleum Services Ltd. (SinoFTS), will be owned 55 percent by Sinopec and 45 percent by FTSI.

SinoFTS marks a first-of-its-kind oilfield services collaboration between a non-Chinese well-completion company and a Chinese national oil company. SinoFTS will serve both Sinopec and other exploration and production companies throughout China.

“We are very excited to begin this joint venture with such an esteemed partner,” said Greg Lanham, FTSI CEO, commenting in a news release.

“China has vast untapped shale gas resources, and we’re eager to play a role in their development,” Lanham said.

With Sinopec developing China’s unconventional oil and gas resources, the newly announced joint venture is expected to create a China-centric well completion company with industry-leading capabilities.

Under the agreement, SinoFTS will use new equipment that FTSI will custom-manufacture in the United States, featuring the latest innovations and adapted to the specific requirements of the Chinese environment.

As the largest pressure pumping company created during the U.S. shale renaissance, FTSI is said it is well positioned to collaborate with Sinopec in developing China’s onshore pressure pumping industry.

The collaborative endeavor will initially focus on the Sichuan basin, considered China’s most promising shale play, providing services under a long-term, dedicated contract. Operations for the initial fleet are expected to begin in 2015, with further deployments of pressure-pumping fleets expected in basins throughout China. SinoFTS will be headquartered in Beijing and managed by industry experts from both FTSI and Sinopec.

FTS International provides well-completion services, including pressure pumping and wireline. More information is available at www.ftsi.com.

lgraham@bizpress.net

 

 

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