Trican Well Service sold its remaining stake in Keane Group and expects to net
$56 million. Houston-based fracker Keane repurchased about 10% of the 5.25 million
shares sold but received no proceeds from the offering.
The shares that Calgary-based Trican sold are a holdover
from 2016, when Keane acquired Trican’s US pressure pumping business in March
2016, for $200 million in cash and a minority stake valued at $47 million, increasing
Keane’s frac fleet from 300,000 hhp to 950,000 hhp.......
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