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Image courtesy of FTS International.

FTS International intends to launch an initial public offering that could be worth up to $100 million.

The company said in a Securities and Exchange Commission (SEC) filing that it intends to list the shares on the New York Stock Exchange under the symbol “FTSI.”

According to the SEC filing, the proposed maximum aggregate offering price has been set at $100 million.

The Texas-based company did not disclose a price range or target date for the offering in the filing.

Credit Suisse and Morgan Stanley will serve as underwriters for the offering.

FTS International is the largest private well completion company in North America with wireline services in all major U.S. shale plays.

In the filing, FTS said it booked $1.37 billion in full year 2015 revenues compared to $2.36 billion for the full year of 2014.

The company’s full year 2015 net loss widened to $1.01 billion compared to a net loss of $56.5 million in 2016.

FTS said in the filing that it demand for hydraulic fracturing services has “begun to increase from the lows seen in mid-2016” thanks to the OPEC production deal and falling production levels.

The company added that the “financial distress of many other providers of hydraulic fracturing services” has likely led to “significant” maintenance deferrals and the use of idle fleets for spare parts has led to a “material reduction in total deployable fracturing fleets.”

“We believe all of our inactive fleets can be returned to service,” FTS said in the filing.

FTS said in the filing that it has seen an increase in demand for its services and that it recently committed three additional fleets to begin operations last month.

The company added that it intends to use a portion of the proceeds from its IPO to reactive additional fleets in 2017 and 2018.

The company currently has 1.6 million total hydraulic horsepower across 32 fleets, with 20 being active as of January 31.

FTS said last week that the proposed IPO remains subject to market conditions and regulatory requirements.