Well completions giant FTS International (FTSI) plans to increase its wireline capacity by tenfold in an agreement to buy J-W Wireline Co., one of the largest independent cased-hole wireline companies in North America.
The agreement, for an undisclosed amount, would extend FTSI's wireline service and geographic reach in the Permian Basin and Midcontinent, as well as the Eagle Ford, Haynesville and Marcellus/Utica shales.
FTSI now has more than 1.6 million hydraulic hp deployed in the U.S. onshore. FTSI, founded in 2002 to develop the Barnett Shale, focuses on optimizing well services and today has 35 pressure pumping fleets deployed across the U.S. onshore. It also offers wireline/pressure control and reservoir optimization technology services.
The addition of J-W Wireline would allow FTSI to offer customers vertical and horizontal perforating, comprehensive cased-hole logging services including cement bond logs and production logging, slickline, braided line, tubing conveyed perforating, pipe recovery and mechanical services.
"This acquisition gives us a national wireline footprint and aligns with FTSI’s strategic plans for future growth," CEO Greg Lanham said. "This provides us the ability to offer a more comprehensive and efficient bundle of well completion services for our customers."
The acquisition, set to close by the end of the year, includes a manufacturing facility that would complement existing manufacturing capabilities. In addition, a J-W Wireline training facility would augment FTSI's health, safety and environmental training program.
J-W Wireline President Perry Harris would lead the expanded wireline division for FTSI, bringing with him more than 400 of the company's employees. The combination "provides improved opportunities for our employees and expanded solutions for both J-W Wireline and FTSI customers," Harris said.
J-W Wireline is a subsidiary of J-W Energy Co., one of the largest privately held companies in the oil and gas industry. J-W Energy's activities primarily are focused in the natural gas upstream, midstream and energy services segments. Based in Addison, TX, the company has more than 60 field offices and employs more than 1,000 people. The energy services group includes one of the largest privately owned compression fleets in the country.