Keane Group Triples Fracking Capacity
News Article by Elite Tank
The Houston-based company acquired the majority of Trican Well Service’s assets in the United States. Keane Group purchased the assets with $200 million in cash plus a minority interest stake in Keane Group.
“The acquisition will significantly strengthen Keane’s position as a leader in the completion services business across all key U.S. basins,” Keane Group Chairman and CEO James Stewart said. “With our expanded capabilities, Keane Group will have significantly greater scale that will enable us to provide all customers cost-effective completion services that will maximize the return on their assets in the current low commodity price environment.”
The deal will close March 2016, following the completion of customary approvals.