Profile: Keane Group Inc (FRAC.N)
23 May 2019
Keane Group, Inc., incorporated on October 13, 2016, is provider of integrated well completion services in the United States, with a focus on demanding completion solutions. The Company’s segments include Completion Services, which comprises hydraulic fracturing and wireline divisions, and Other Services, which consists of coiled tubing, cementing and drilling divisions. It provides hydraulic fracturing and wireline services pursuant to contractual arrangements, such as term contracts and pricing agreements, or on a spot market basis. It provides certain complementary services such as coiled tubing, cementing and drilling pursuant to contractual arrangements, such as term contracts on a spot basis.
The Company’s primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions, as well as other value-added service offerings. As of July 3, 2017, the Company had approximately 1.2 million hydraulic horsepower spread across 23 hydraulic fracturing fleets and 31 wireline trucks located in the Permian Basin, the Marcellus Shale/Utica Shale, the SCOOP/STACK Formation, the Bakken Formation and other active oil and gas basins. The Company provide its services in conjunction with onshore well development, in addition to stimulation operations on existing wells, to exploration and production (E&P) customers. It is a provider of hydraulic fracturing services in the Permian Basin, the Marcellus Shale/Utica Shale and the Bakken Formation by total hydraulic horsepower deployed.
The Company provides hydraulic fracturing and related well stimulation services to E&P companies, particularly to those operating in unconventional oil and natural gas reservoirs and requiring technically and operationally advanced services. Hydraulic fracturing services are performed to manage production of oil and natural gas from formations with low permeability and restricted flow of hydrocarbons. Its hydraulic fracturing units consist primarily of high-pressure hydraulic pumps, diesel engines, radiators and other supporting equipment that are typically mounted on flat-bed trailers. Its wireline services involve the use of a single truck equipped with a spool of wireline that is unwound and lowered into oil and natural gas wells to convey specialized tools or equipment for well completion, well intervention, pipe recovery and reservoir evaluation purposes. It provides wireline services in conjunction with hydraulic fracturing services in plug-and-perf well completions. Plug-and-perf is a multi-stage well completion technique for cased-hole wells that consists of pumping a plug and perforating guns to a specified depth.
The Company provides various coiled tubing services to facilitate well servicing and workover operations, as well as the completion of horizontal wells. Coiled tubing services involve the use of a flexible, continuous metal pipe spooled on a large reel which is then lowered into oil and natural gas wells to perform various workover applications, including wellbore clean outs and maintenance, nitrogen services, thru-tubing fishing, and formation stimulation using acid and other chemicals. The Company is also equipped to offer its customers drilling, cementing, acidizing and nitrogen-based well stimulation services.
The Company competes with Halliburton Company, Schlumberger Limited, Baker Hughes Incorporated, Weatherford International plc., RPC, Inc., Superior Energy Services, Inc., C&J Energy Services, Inc., Basic Energy Services, Inc., FTS International, Inc., Calfrac Well Services Ltd., U.S. Well Services, Patterson-UTI Energy, Inc., ProPetro Services, Inc., Liberty Oilfield Services and Seventy Seven Energy Inc.
Keane Group Inc
1800 Post Oak Blvd Ste 450
HOUSTON TX 77056-3967