The Philadelphia-based fracking company Preferred Sands LLC has expanded its footprint and staff by nearly double at its Houston, Texas, location.
In 2013, the company, which focuses on proppant and flow technology for fracking wells, opened a 6,000-square-foot lab in Houston, which currently has nine employees. The huge lab was designed for the company to test new well technologies that would allow fracking wells to be more productive and with less environmental impact.
According to the Philadelphia Business Journal, within the next year, Preferred Sands has plans to acquire another 10,000-square-feet of office space in Houston. The company’s plan is to set up a location to support its international business division, along with another office specifically for well design technology. Preferred Sands also plans on hiring around 10 new employees over the next year.
Preferred Sands’ CEO and Founder Mile O’Neill commented on the company’s plans and the industry’s current status:
The (oil and gas) industry is under such tremendous pressure right now. The proppant industry is getting hard because the companies are hurting … The good news is it’s times like these that companies have to look at what they’re doing.
Currently, Preferred Sands is not actively working with any specific brokers.