FORT WORTH, TX—Having bought it just two years ago, FTS International is putting a vacant industrial building back on the block.
FTS, also known as Frac Tech Services, told the Fort Worth Star-Telegram that it plans to sell the 550,000 square-foot building at 4601 Gold Spike Drive.
When FTS purchased the building (from ConAgra) in 2011, it was considering the site for a state-of-the-art manufacturing, repair and testing facility. Natural gas drilling in the Barnett Shale has slowed significantly in the past year and is at its lowest level since 2008.
FTS reported a 27 percent drop in revenue for the third quarter because demand for its services had waned. The company has also changed leadership.
Click Fort Worth Star-Telegram to read the full story.
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