Shale Daily / NGI All News Access

Industry Brief

Oilfield services provider Platinum Energy Solutions Inc. filed plans with the Securities and Exchange Commission to sell up to $300 million of common stock in an initial public offering. The Houston-based company, which specializes in hydraulic fracturing in unconventional oil and natural gas plays, coiled tubing and other pressure pumping services, has operations in Texas and northwestern Louisiana. Platinum's "quintuplex" pumping units are capable of delivering up to 2,500 hydraulic horsepower with an 80% efficiency, according to the company. Platinum said it has applied to list its stock on the New York Stock Exchange under the ticker FRAC.

ISSN © 2577-9877 | ISSN © 2158-8023
Comments powered by Disqus