Oilfield Service Companies File For Bankruptcy in Forth Worth, Texas

On May 17, 2015, Frac Specialists, LLC (“Frac Specialists”), Cement Specialists, LLC (“Cement Specialists”), and Acid Specialists, LLC (“Acid Specialists” and collectively with Frac Specialists and Cement Specialists, the “Debtors”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division.According to the Debtors’ motion for joint administration (the “Joint Administration Motion”),  each of the Debtors provide oilfield services for drillers in the Permian Basin.  Frac Specialists provides energized fluid fracs, slick water fracs, cross-linked fracs and gelled water fracs.  Cement Specialists provides cementing services including remedial work, squeeze jobs, production, intermediate and surface casing, liners and plug and abandonment services.  Acid Specialists provides acid and related chemical pressure pumping services to enhance and maintain production.  The Debtors’ assets include equipment necessary to perform such services. Joint Administration Motion at 2-4.The Debtors are seeking to have their cases jointly administered under the lead case of In re Frac Specialists, LLC [Case No. 15-41974].  The Debtors’ cases have been assigned to Judge D. Michael Lynn.A copy of the Joint Administration Motion can be accessed here: Download Joint Administration Motion.For further information, please contact a Thompson & Knight Bankruptcy and Restructuring Attorney.For more information on the Thompson & Knight’s Bankruptcy and Restructuring Practice, please visit www.tklaw.com/bankruptcy-and-restructuring/.