Service & Supply | Quarterly / Earnings Reports | Oilfield Services | First Quarter (1Q) Update
Keane Pumping Increased Frac Fleet Usage To 67%
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Keane Group reported first quarter 2017 financial results.
Results and Recent Highlights
Reported first quarter 2017 revenue of $240.2 million, compared to fourth quarter 2016 of $151.0 million Achieved first quarter 2017 adjusted EBITDA of $13.1 million, compared to fourth quarter 2016 of $6.1 million Averaged 15.5 deployed hydraulic fracturing fleets during first quarter 2017; exited quarter with 17 deployed fleets Increased annualized adjusted gross profit per fleet to $6.3 million, compared to fourth quarter 2016 of $4.4 million Completion Services Total Revenue : $240.2 Million Total Fleets (inventory) : 23 Fleets Deployed Fleets : 15.5 (average) Fleets (67% of Total)Revenue for Completion Services totaled $240.2 million for the quarter ended March 31, 2017, an increase of 62%…
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