Fort Worth Fracking Company Seeks $230 Million in Initial Stock Sale

FTS International, which bills itself as one of the largest providers of hydraulic fracturing services to the oil and natural gas industry, plans to raise more than $230 million by selling shares to the public, according to a filing with the stock market regulator, the Securities and Exchanges Commission.The Fort Worth company operates in an industry segment that includes such large fracking services providers as Halliburton and Schlumberger.The initial public offering comes during a significant ramp up in oil and natural gas drilling activity in response to a steady increase in oil prices. After hitting a low of around $29 for a barrel in early 2016, West Texas Intermediate crude prices have more than doubled to about $66 a barrel.  Continue reading...