Service & Supply | Quarterly / Earnings Reports | Oilfield Services | Fourth Quarter (4Q) Update | Frac Markets - Pressure Pumping
Keane Pumping Fleets Now at 57%
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Keane Group, Inc. reported fourth quarter and full year 2016 financial results.
Completion Services
Revenue for Completion Services totaled $148.0 million for the quarter ended December 31, 2016, an increase of 174% compared to the quarter ended December 31, 2015 of $54.0 million. Keane averaged 12 deployed hydraulic fracturing fleets for the fourth quarter, or 52% utilization on 23 total fleets, of which, 62% were bundled with wireline. At the end of 2016, Keane had 13 hydraulic fracturing fleets deployed, or approximately 57% utilization on 23 total fleets. OutlookIn January 2017, Keane deployed two additional hydraulic fracturing fleets, bringing total deployed fleets to 15, and currently has 16 hydraulic fracturing fleets deployed, representing approximately 70% utilization on our…
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