Home / Insurance Tips / Trican Well Service Ltd’s sale of U.S. unit prompts stock upgrade by analysts

Trican Well Service Ltd’s sale of U.S. unit prompts stock upgrade by analysts

Trican, once among the largest pressure pumping companies in Canada, sold its U.S. division to the Houston-based, privately held Keane Group for $285 million, plus a 10 per cent equity interest in Keane, which led many analysts to upgrade the company's stock.

Analysts liked Calgary-based fracking company Trican Well Service Ltd.’s sale of its U.S. pressure pumping business, that the oilfield services provider announced Tuesday.

Trican, once among the largest pressure pumping companies in Canada, sold its U.S. division towards the Houston-based, privately held Keane Group for $285 million, along with a 10 % equity curiosity about Keane, which led many analysts to upgrade the company’s stock.

Related

About admin

Leave a Reply

Your email address will not be published. Required fields are marked *

*