Wilks Brothers Consolidate Fracking Assets With ProFrac Deal

Farris and Dan Wilks became billionaires when they sold their fracking business a decade ago. Now they’re busy building another empire.

On Friday, ProFrac Holdings LLC, which is controlled by the Wilks family, agreed to acquire FTS International Inc., a company the brothers founded two decades ago, for about $407.5 million in cash, according to a statement.

FTS was among a wave of U.S. companies involved in the shale industry to file for bankruptcy as energy demand and prices collapsed last year amid the pandemic. It emerged from Chapter 11 protection in November. Since then, oil and gas prices ...