The company specializes in hydraulic fracturing, coiled tubing and other pressure pumping services. Hydraulic fracturing is a technique used to help unlock large reserves of shale oil and gas that weren't previously accessible.
The procedure has sparked a boom of new wells across the country, although concerns have been raised about whether the process poses a threat to ground water.
The company's major customers include Encana Corp. (ECA, ECA.T) and Petrohawk Energy Corp., where Platinum Energy is providing services in the Eagle Ford Shale in southern Texas.
Platinum Energy in September filed IPO plans to sell up to an estimated $300 million in stock to pay down debt and redeem about $20 million of preferred shares. Proceeds may also be used to support the growth of the company's hydraulic fracturing, coiled tubing and other pressure pumping activities.
The company has been approved to list on the New York Stock Exchange under the symbol FRAC. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
What about the Federal Lawsuit for Fraud...Do investors really want to put money into this company.
ReplyDeletehttp://www.youtube.com/watch?v=9LzcZQqx5Ww