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As the oilfield service market faces headwinds from consolidation and a dwindling rig count, ProPetro CEO Sam Sledge sees Permian Basin demand picking up for next-generation equipment.
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 yea...