Effective December 3, 2013, Keane Group (“Keane”) has acquired the assets of (“UTFS”) based in Midland, Texas. UTFS is a technology and operational leader in hydraulic fracturing services in the Permian Basin.
UTFS began operations in the Permian basin in 2011 focusing their technical and engineering expertise on the growing vertical and horizontal fracturing market. UTFS operates 22,500 HHP, expanding the Keane total to 136,000 HHP. With the robust growth planned in the Permian basin over the next several years this acquisition provides Keane the opportunity to expand in the region as well as growing additional services of Wireline Technologies in the basin.
Jerry Smith will be joining Keane as VP – Permian Operations and David Barringer will be joining Keane as VP Engineering – Permian Operations. Keane is excited about the new team and the opportunities this geographic expansion brings to the continued growth of the company.