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!…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment