Trican Well Service Ltd. said Jan. 12 it is in negotiations with Keane Group for the sale of its U.S. pressure pumping business.
Although talks are progressing, significant terms and conditions are still under negotiation, the release said.
Based upon the terms and conditions currently being discussed, management of the Calgary, Alberta-based company anticipates the offered price represents fair value for the pressure pumping business.
The team also expects the sale would be in the best interest of shareholders if acceptable terms and conditions can be negotiated.
The timing of completion of any such transaction remains uncertain, according to the release.
Keane Group is a privately-held, Houston-based well completion services company.
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