FRAC TECH SERVICES MAKES MULTI-MILLION INVESTMENT IN LOCAL AREA
June 15, 2007
The Conway Development Corporation and Conway Area Chamber of Commerce announced that Frac Tech Services, LTD., a privately held company in business since 2002, has begun construction of a new facility on Highway 65 North in Conway. In addition to a multi-million dollar investment in a 12,000 square foot office and shop complex and an 8,000 square foot warehouse, the Company is also investing nearly $10 million in fracturing equipment for its expansion into the Fayetteville Shale Play.
Frac Tech Services core business is comprised of oil well stimulation services, mainly high pressure pumping. The Company sees this District as a critical component to its expansion efforts. As Frac Tech continues to grow and flourish, it is vital to have service districts strategically located across the United States. Company officials believe Conway is an ideal location not only because of its proximity to the oil and gas activity in Arkansas, but also because of its employee base.
Conway Development Corporation President Bill Adkisson said, “We are pleased that Frac Tech has chosen to locate their business in Conway. They join a growing list of companies that are finding Conway a perfect location to take advantage of the growing natural gas business in Northcentral Arkansas.”
Frac Tech will also be contributing to the area economy with the addition of 40 employees in its first year of operation. It is projected that an additional 20 employees will be added during the second year. The average salary is $50,000, and interested applicants may apply at the Company’s temporary office, which is located at 294 Highway 65 North, or by visiting the Company’s website, http://www.fractechltd.net.
Company officials noted that Frac Tech’s reputation for quality service and integrity makes it an ideal company to serve oil and gas customers in Arkansas. Company officials also noted that Frac Tech believes in giving back to the communities in which it operates, and it does so by supporting a variety of charitable organizations, with an emphasis on those that are most important to our employees and customers.
Chairman of the Conway Area Chamber of Commerce Dr. Gabriel Esteban said “We believe that Frac Tech will be a good addition to our business community. They continue to build on the growing energy sector developing in Faulkner County.”
“Frac Tech will provide quality jobs to the residents of our region and their investment speaks to their commitment to and belief in this area. We are proud to welcome them as our newest corporate citizen,” said Conway Mayor Tab Townsell.
Frac Tech Officials stated that they look forward to partnering with the Conway officials to maximize not only the Company’s growth, but also that of the economy in the area. They are confident that this will be a positive working relationship for Frac Tech, local officials and area citizens, both now and in the future, because Frac Tech believes in building unlimited opportunities.
