Oilfield Services Co. Keane Group Floats $288M IPO

Keane Group is a Texas-based oilfield services company that provides fracking, wireline and top-hole air drilling services to oil and gas companies in the Marcellus/Utica as well as several other major basins. In January, Keane announced they were buying out Canadian-based Trican Well Service for $247 million (see Oilfield Serv. Co. Keane Group Buys Trican Well Service for $247M). The expansion tripled Keane’s fracking capacity and gave it access to proprietary new technology. Looks like the buyout, and Keane’s hard work, continues to bear fruit. Yesterday the privately-held company announced it will go public with an initial public offering (IPO) of stock. They hope to raise $287.5 million with the IPO. And get this–the stock will be traded on the New York Stock Exchange under the ticker symbol FRAC. Love it!…

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