Tag: Trican Well Service
Trican closes sale of US fracking business
Trican will pay down debt, strengthen balance sheet to weather industry downturn caused by low oil prices Trican Well Service Ltd. says it expects to close the sale of its United States fracking business today to Keane Group, a privately-held U.S.-based well completion services company. As previously announced, the transaction involves the sale of all of the fracking and select […]
Fracker Trican lowers US costs, adjusts operations to slower market
Management has meaningfully reduced the U.S. operations’ cost structure and continues to adjust it to current industry activity and operating conditions Texas hasn’t been kind to Trican Well Service in the past year. The Calgary-based company idled the last of its two fracking crews in Oct., with only six of its 16 U.S. units still operating. Last […]
Trican sells Russian fracking business, refocuses on USA, Canada
Trican also terminated operations Australia, suspended business in Colombia, Saudi Arabia International service company Trican Well Service Ltd. has closed of the sale of its Russian pressure pumping business, saying it wants to focus on the North American market. The transaction involves the sale of all shares of Trican Well Service LLC, an indirect wholly-owned subsidiary of Calgary-based […]
Trican Well Service: Q4 profit of $4.9M, revenue up to $755.4M
Trican Well Service saw steep decline in demand for pressure pumping services in late 2014 Trican Well Service Ltd. (TSX:TCW) has reversed last year’s fourth-quarter loss to post a net profit of $4.9 or three cents per share for the three months ended Dec. 31. In the year-earlier period, the Calgary-based oilfield services company with operations […]
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