FTSI Forced to Lay Off Workers, Seek Sale of Sand-Hauling Assets

From the Observer-Reporter:
FTS International, the well-completion company that recently laid off workers at its two Washington County sites, is in the process of selling its sand-hauling assets to a third party. 
The decision is mentioned in an internal memo from the company’s chief executive officer that was provided to the Observer-Reporter. 
On Friday, the Fort Worth, Texas-based company, which is the largest private oil and gas well completion service in North America, laid off an undisclosed number of people at its sand-hauling site in Venetia and others at its larger operations complex near Eighty Four. 
While not providing the number of people who were let go, the company acknowledged in an e-mail Monday it was “adjusting headcount” in response to lower customer demand. The company said it was not closing its Venetia or Eighty Four facilities. 
A former employee, who asked to remain anonymous, said later Monday, FTSI laid off 34 sand-truck drivers and seven “coordinators” at Venetia Friday.
Read more by clicking here.

Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

The Second Largest Oil and Gas Merger - Cabot and Cimarex

Is a Strong Oil Demand Expected This Year?