Keane Group, Inc.(“Keane”) (NYSE:FRAC) today announced that one of its stockholders, Keane Investor Holdings LLC (the “Selling Stockholder”), commenced an underwritten secondary offering of 11,000,000…
Author: News
JP Morgan Chase is Betting on Frac Pump servicing companies
JP Morgan Chase says it expects U.S. shale production to continue rising if WTI prices hold steady above $60/bbl. But even as companies keep drilling,…
Vista Proppants and Logistics files IPO / It plans to list on the Nasdaq under the symbol VPRL
Vista Proppants and Logistics, which is a leading provider of frac sand solutions in Texas and Oklahoma, filed on Friday with the SEC to raise…
Chris Wright, Liberty Oilfield Services Talks Frac
Liberty Oilfield Services shares soar on new fracking IPO from CNBC. Tech nerds that do fracking Oil producers are unlikely to significantly expand drilling budgets…
Nine Energy Service Inc. is going public
HOUSTON—Nine Energy Service, Inc. (NYSE: Nine) (“Nine”) announced today that it has launched an initial public offering of its common stock pursuant to a registration…
Keane Group, Inc. (FRAC) Insider Ownership of 72.35%
Headquartered in Houston, Texas, Keane is one of the largest pure-play providers of integrated well completion services in the US, with a focus on complex,…
Denver’s Liberty Oilfield Services IPO rolls out strong
Liberty Oilfield Services Inc. (NYSE: LBRT) (“Liberty”) announced today the pricing of an upsized initial public offering of 12,731,092 shares of its Class A common stock at $17.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “LBRT” on January 12, 2018. In addition, Liberty and the selling shareholder granted the underwriters a 30-day option to purchase up to an additional 1,909,663 shares of Liberty’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on January 17, 2018, subject to customary closing conditions. Read more
Will we get $70 per barrel oil in 2018?
The oil market in 2017 finished quite optimistic. Black gold in December for the first time in 2.5 years reached the mark of $ 66…
Refracturing Extends Lives Of Unconventional Reservoirs
Refracturing often is considered the best option for combatting production declines in unconventional reservoirs. Decline rates from SRR wells usually are more rapid than wells in conventional reservoirs because of their ultralow permeability, limited reservoir contact, and the original completion strategy.
The success or failure of refracturing can have implications for field development.
The desire to reinvigorate wells by performing secondary or tertiary hydraulic fracture stimulation treatments has been present for many years. The need for improving production above the economic break-even point and tapping additional portions of the reservoir are lofty goals that have proven difficult,
if not impossible, to achieve in conventional reservoirs. Read more
Weatherford Completes Schlumberger Deal for $430 Mln
Weatherford International PLC (NYSE: WFT) sold its U.S. hydraulic fracturing business to Schlumberger Ltd. (NYSE: SLB) for $430 million in cash. The deal replaces the…
“Liberty Oilfield Services” has launched an initial public offering
Liberty Oilfield Services Inc. (NYSE: LBRT) (“Liberty”) announced today that it has launched an initial public offering (IPO)of 10,714,286 shares of its Class A common stock at an anticipated initial offering price between $14.00 and $16.00 per share pursuant to a registration statement on Form S-1 (the “Registration Statement”) previously filed with the Securities and Exchange Commission (the “SEC”). In addition, Liberty and the selling shareholder intend to grant the underwriters a 30-day option to purchase up to an additional 1,607,143 shares of Liberty’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol “LBRT,” subject to official notice of issuance. Read more
US crude oil production will be more than Saudi Arabia in January 2018
EIA oil reports that US production was at 9.78 million barrels per day. The US may end December with 9.9 million barrels per day. Rystad Energy’s comprehensive well data for the United States shows that domestic oil production could pass 9.9 million barrels per day in December 2017. Read more
Keane Group Adding More Hydraulic Fracturing Fleets
Keane Group, Inc. (“Keane” or the “Company”) Has Announced it has placed orders for approximately 150,000 newbuild hydraulic horsepower, (frac pumps) representing three additional hydraulic fracturing fleets, which will increase its position as a leading provider of completions services in the U.S.
“Supply and demand fundamentals for U.S. oil and gas well completions remain highly constructive for quality completions service providers,” said James Stewart, Chairman and Chief Executive Officer of Keane. “Favorable conditions have continued to improve throughout the year, and robust 2018 capital budgets announced by producers in recent weeks have amplified and validated the growing demand for our services, which remains in excess of supply. This visibility, coupled with additional pricing improvements, provide the firmness of demand and favorable economics we require to deploy newbuild capital and further our growth trajectory. Read more
ExxonMobil to Merge Refining and Marketing Divisions
IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE:XOM) announced today it will combine its refining and marketing operations into a single company, ExxonMobil Fuels & Lubricants Company, in the first quarter of 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has been appointed president of the combined division by ExxonMobil’s board of directors, effective Jan. 1, 2018.
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