ProPetro Holding Corp. today announced financial and operational results for the fourth quarter of 2021.
Fourth Quarter 2021 and Full Year Highlights
Total revenue for the quarter decreased 2%. | February 22, 2022
By Reuters Staff
2 Min Read
(Reuters) - Prominent shale investor Dan Wilks on Tuesday reported a 7.5% active stake in troubled oilfield services firm ProPetro Holding Corp through an investment vehicle, saying he may choose to push the company for a sale or other alternatives.
Dan Wilks and his brother Farris Wilks made their fortune on the shale boom through a company they founded called Frac Tech Services, which provided trucks to frackers. They sold their majority stake in the company in 2011 for $3.2 billion to a consortium led by Temasek, a Singapore sovereign fund.
Over the past few years, the brothers have been acquiring stakes in hard hit services firms across North America and most recently engaged in a lengthy takeover battle for Canada’s Calfrac Well Services Ltd.