Service & Supply | Quarterly / Earnings Reports | Oilfield Services | Second Quarter (2Q) Update | Frac Markets - Pressure Pumping
Keane Pumping Ramps Up Frac Usage To 79% On Demand For Completions
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Keane Group reported second quarter 2017 financial results.
Results and Recent Highlights
Reported second quarter 2017 revenue of $323.1 million, compared to first quarter 2017 of $240.2 million Reported second quarter 2017 net loss of $11.2 million, compared to first quarter 2017 of $72.3 million Achieved second quarter 2017 Adjusted EBITDA of $36.0 million, compared to first quarter 2017 of $13.1 million Averaged 18.3 deployed hydraulic fracturing fleets during second quarter 2017; exited quarter with 19 deployed fleets Increased annualized Adjusted Gross Profit per fleet to $10.5 million, compared to first quarter 2017 of $6.3 million Completion Services Total Revenue : $323.1 Million Total Fleets (inventory) : 23 Fleets Deployed Fleets : 18.3 (average) Fleets (79% of Total)Revenue…
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