Platinum Announces IPO

Platinum Energy Solutions has commenced an initial public offering of 14.0 million shares of its common stock. Platinum is backed by private equity firms Clearlake Capital and Layton Corp.

PRESS RELEASE

Platinum Energy Solutions, Inc. announced today that it has commenced an initial public offering of 14.0 million shares of its common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. The underwriters will be granted a 30-day over-allotment option to purchase up to 2.1 million additional shares from the company.

The common stock will be listed on the New York Stock Exchange and traded under the symbol “FRAC.” The Company intends to use the net proceeds it receives from this offering for capital expenditures related to the expansion of the Company’s operations, working capital and other general corporate purposes, the retirement of a portion of the Company’s existing indebtedness, and for the redemption of Preferred Stock. No existing shareholders will sell in the offering.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and FBR Capital Markets & Co. are acting as joint book-running managers for the offering. The co-managers for the offering are Raymond James & Associates, Inc., Simmons & Company International, Dahlman Rose & Company, LLC and Knight Capital Americas, L.P. The offering is being made by means of a prospectus, copies of which may be obtained by sending a request to one of the following: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, Telephone: 866-718-1649, Email: prospectus@morganstanley.com; J.P. Morgan, via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, attention: Prospectus Dept., telephone: (800) 831-9146 or by emailing batprospectusdept@citi.com; or FBR Capital Markets & Co., Attention: Syndicate Prospectus Department, 1001 Nineteenth Street North, Arlington, Virginia 22209, Telephone: 703-312-9500, Email: prospectuses@fbr.com.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Platinum Energy Solutions, Inc.

Platinum Energy Solutions, Inc. is a Houston, Texas based oilfield services provider specializing in premium hydraulic fracturing, coiled tubing and other pressure pumping services. The Company utilizes modern, high pressure-rated fracturing equipment that allows it to handle challenging geological environments, reduce operating costs, increase asset utilization and deliver excellent customer service.