Texas-based BJ Services intends to use the proceeds from a planned $100 million initial public offering to continue its redeployment of fracturing fleets in North America, offering a welcome addition of hydraulic horsepower in a tight shale market.
BJ, which has re-emerged in the oil patch some eight years after being swallowed up by Baker Hughes, said it will have 31 frack fleets working by the end of 2017.
