Trican Becomes Keane Group
Operations Continue in Lamar Township
MACKEYVILLE — The former Trican facility in Lamar Township continues to operate with new ownership but a reduced workforce.
Calgary-based Trican Well Services Ltd. closed last month on the sale of its United States pressure pumping business to Keane Group, a privately-held Texas-based well completion services company. The purchase price was $200 million.
Keane recently completed the change-over in signs and vehicles at its local operation just off the Lock Haven exit of Interstate 80. Local economic officials said it is their understanding the workforce has been reduced from better than 60 employees to 30. In 2015 the Trican employment level was reported at 180.
A trade publication said the Keane purchase will allow that company to triple its fracking capacity in natural gas basins in Texas and the mid-continent along with several others, including the Marcellus basin. Keane has been operating since 1973 and is based in Houston. It has offices in Texas, Pennsylvania and North Dakota. The privately held company began work in the Marcellus Shale in 2010.
Keane Group chairman said earlier this year the acquisition would add to Keane “one of the leaders in the U.S. oil and natural gas completion services industry.” Working with Trican during the transition, he said, “we will ensure uninterrupted service to Trican U.S.’s and Keane Group’s existing customers and looking forward will be able to provide them and our future customers with expanded offerings.”
Meanwhile the nearby Baker Hughes facility sits dormant, closed down in mid-March due to what the company called “challenging market conditions.” It is understood the facility is currently going through an inventory process and the vehicles on site will remain there for the foreseeable future.
