Sale of J-W Wireline Company to FTS International Provides Opportunities

DALLAS, Dec. 8, 2014 /PRNewswire/ -- J-W Energy Company (J-W Energy), announced today the sale of substantially all of the assets of its wholly owned subsidiary, J-W Wireline Company (J-W Wireline), to FTS International (FTSI).  Through a variety of well-placed acquisitions, experienced leadership, and internal growth, J-W Wireline became one of the largest independent cased-hole wireline companies in North America.  The sale to FTSI, the largest independent well completion service company in North America, will allow the wireline division to continue its path of growth. The combined FTSI wireline division will be led by current J-W Wireline President, Perry Harris. 

"The sale of J-W Wireline will allow J-W Energy to concentrate efforts on exploration and production areas with J-W Operating Company, midstream operations with J-W Midstream Company and to continue growth of the largest privately-owned compression fleet in the United States with J-W Power Company," said J-W Energy Senior Executive Vice President David A. Miller.  Mr. Miller added:  "While this sale has provided J-W Energy the opportunity to re-focus its energies toward other areas, we will miss the dedicated employees of J-W Wireline, and wish them the best in their new positions."

With the closing of a sale of substantially all of the assets of J-W Wireline to FTSI on the heels of the announcement of a large acquisition of producing oil and gas assets in North Louisiana by subsidiary J-W Operating Company, J-W Energy continues to target key areas for growth and opportunity.  J-W Energy Chief Executive Officer Howard Westerman noted: "With the significant changes taking place, this is an exciting time to be at J-W Energy.  Our employees continue to be devoted to safety, customer service, and the values that have brought us success for over fifty years, and we look forward to the opportunities that await us in 2015."  

Wells Fargo Securities served as the exclusive financial advisor to J-W Energy on the transaction. 

ABOUT J-W Energy Company
J-W Energy Company (www.jwenergy.com) is one of the largest privately-held companies in the oil and gas industry with activities focused primarily in the natural gas upstream, midstream and energy services segments of the industry.  Upstream operations are focused primarily on unconventional natural gas plays in the US and the energy services group includes the largest privately-owned compression fleet in the US.

Investor & Media Contact:
Rick Davis
Vice President - Finance
J-W Energy Company
972.661.4750
[email protected]

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SOURCE J-W Energy Company

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