August 21, 2017 5:13 PM ET

Energy Equipment and Services

Company Overview of FTS International, Inc.

Company Overview

FTS International, Inc., through its subsidiaries, provides oil and natural gas well stimulation services to the exploration and production companies operating in the United States. It offers well completion services, including pressure pumping, wireline, and reservoir optimization technologies; and high-pressure hydraulic fracturing services. The company primarily focuses on the unconventional oil and natural gas formations in the Eagle Ford Shale, the Marcellus/Utica Shale, the Haynesville Shale, the Permian Basin, the Barnett Shale, Western Oklahoma; and the Bakken Shale. It operates 34 hydraulic fracturing fleets with approximately 1,584,500 horsepower in the aggregate. FTS International...

301 East 18th Street

Cisco, TX 76437

United States

2,200 Employees

Phone:

817-850-1008

Fax:

817-850-1019

Key Executives for FTS International, Inc.

Chief Executive Officer
Age: 44
Chief Financial Officer and Treasurer
Chief Operating Officer
Age: 51
Senior Vice President of Commercial
Age: 59
Chief Administrative Officer, Chief Compliance Officer, General Counsel and Corporate Secretary
Age: 49
Compensation as of Fiscal Year 2017.

FTS International, Inc. Key Developments

FTS International, Inc. Announces Launch of Cash Offers for its 6.250% Senior Secured Notes Due 2022 and Term Loan Due 2021 of $50 Million in the Aggregate

FTS International, Inc. announced the commencement of a cash offer to reduce the level of the company’s indebtedness. The company will offer to purchase its outstanding 6.250% Senior Secured Notes due 2022 and concurrently offer to repay its Term Loan due 2021. The aggregate maximum amount of cash that the Company will use to purchase Notes and/or repay its Term Loan in the Offers is $50,000,000. The Tender Offer is being made on the terms and subject to the conditions set in the Offer to Purchase dated June 6, 2016 and the related Letter of Transmittal, and the Term Loan Offer is being made upon terms substantially similar to the Tender Offer, pursuant to the Auction Notice and the Alternate Auction Procedures. In the Offers, the price will be determined in accordance with a modified Dutch auction procedure on the terms and conditions set in the Offer to Purchase and the Term Loan Offer Documents. FTS expects to purchase or repay the Debt in the Offers using cash on hand. The Tender Offer Consideration for each $1,000 principal amount of Debt validly tendered after the Early Participation Deadline and at or prior to the Expiration Time and accepted for purchase or repayment by the company will consist of the Total Consideration less the Early Participation Payment. FTS will pay accrued and unpaid interest on all Debt tendered or repaid and accepted in the Offers from the last interest payment date to, but not including, the date on which the Debt is purchased by the Company pursuant to the Offers. The Offers are conditioned upon the satisfaction or waiver of certain conditions as described in the Offer to Purchase and the Term Loan Offer Documents. FTS has retained Wells Fargo Securities, LLC, who is acting as lead dealer manager, and Lazard Frères & Co. LLC, who is acting as dealer manager, to serve as dealer managers for the Tender Offer and as auction managers for the Term Loan Offer. FTS has appointed Global Bondholder Services Corporation (“GBS”) to serve as the depositary and information agent for the Tender Offer.

FTS International Provides Well Stimulation for EQT's Record-Setting Utica Well

FTS International to be the stimulation provider for EQT Corporation's record-setting Utica well in southwestern Pennsylvania. EQT announced that its first deep Utica well, for which FTSI provided hydraulic fracturing and wireline services, achieved an average 24-hour test rate of 72.9 MMcf per day into sales during the initial 24-hour flow back test. This initial production (IP) rate equates to a 22.6 MMcf per day IP rate per 1,000 foot of lateral. This well, known as Scotts Run and located in Greene County, Pennsylvania, has what is believed to be the high reported IP of any Utica well to-date and is more than double the previous record.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
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