Two Pleasanton oilfield service firms have come together through a company wide merger where FTS International (FTSI) has acquired J-W Wireline Company (J-W Wireline).
FTSI has a huge service complex at 3195 Coughran Rd., south of Pleasanton. J-W Wireline is located northeast of Pleasanton at 6921 FM 1784.
FTS International, the largest independent well completion service company in North America, announced on Dec. 8, that it had completed the acquisition of substantially all the assets of J-W Wireline Company. The close of this acquisition increases FTSI’s wireline capacity more than tenfold and extends wireline service to all locations where the company currently offers hydraulic fracturing services, including the Permian Basin; Eagle Ford, Marcellus, Utica and Haynesville shales; and various mid-continent plays.
The acquisition of substantially all of the assets of J-W Wireline, one of the largest independent casedhole wireline companies in North America, provides a national wireline footprint to FTSI’s North American well stimulation fleet, which has more than 1.6 million hydraulic horsepower. FTSI and J-W Wireline customers can now benefit from a more comprehensive and efficient bundle of well completion services, including vertical and horizontal (pump down) perforating, comprehensive cased-hole logging services including cement bond logs and production logging, slickline, braided line, tubing conveyed perforating (TCP), pipe recovery and mechanical services.
“This acquisition provides us several key opportunities,” FTSI Chief Executive Officer Greg Lanham said. “Partnering the acquired wireline units with our existing stimulation fleets will allow us to reduce wireline-related downtime for our customers while increasing the utilization of our equipment.”
The acquisition includes approximately 70 active wireline units, related district operation locations, a manufacturing facility and a training facility.
With the completion of the transaction, approximately 400 J-W Wireline employees are joining FTSI, including a wireline management team with deep industry experience.
Mr. Lanham added, “This acquisition places us even more securely among the top well completion service companies in North America as we continue to add scope and scale to the services we provide our customers.”
FTS International (www.ftsi.com) is the largest independent well completion service company in North America. FTSI has more than 1.6 million hydraulic horsepower deployed in the major U.S. shale basins. The company provides well completion services, including pressure pumping, wireline and reservoir optimization technologies. Exploration and production companies use FTSI’s products, services and expertise to enhance recovery rates from oil and gas wells, primarily in unconventional plays.
LEON ZABAVA is the Oil and Gas Editor for the Pleasanton Express. He can be reached at 830.281.2341 or firstname.lastname@example.org. FTS International contributed to this article.