December 14, 2017 / 11:29 AM / 2 years ago

BRIEF-Keane Group Inc - ‍Placed Orders For Approximately 150,000 Newbuild Hydraulic Horsepower

Dec 14 (Reuters) - Keane Group Inc:

* KEANE GROUP INC - ‍PLACED ORDERS FOR APPROXIMATELY 150,000 NEWBUILD HYDRAULIC HORSEPOWER, REPRESENTING THREE ADDITIONAL HYDRAULIC FRACTURING FLEETS​

* KEANE GROUP INC- EXPECT NEWBUILDS TO INITIALLY GENERATE ANNUALIZED ADJUSTED GROSS PROFIT PER FLEET OF GREATER THAN $20 MILLION

* KEANE GROUP INC- TOTAL CAPITAL EXPENDITURES FOR THREE FLEETS WILL BE APPROXIMATELY $115 MILLION

* KEANE GROUP - ‍IN ADVANCED DISCUSSIONS WITH BOTH EXISTING AND NEW CUSTOMERS AND EXPECT TO EXECUTE DEDICATED AGREEMENTS FOR NEW FLEETS BY END OF Q1 2018​

* KEANE GROUP INC - ‍TWO FLEETS EXPECTED TO BE DELIVERED AND DEPLOYED BY END OF Q2 OF 2018, AND A THIRD BY END OF Q3 OF 2018​

* KEANE GROUP INC - ‍INTEND TO FUND CAPITAL EXPENDITURES FOR FLEETS OUT OF CASH ON HAND AND EXPECTED CASH FLOW FROM OPERATING ACTIVITIES​

* KEANE GROUP INC- EXPECT GROWTH FROM NEWBUILDS, PROFITABILITY FOR EXISTING 26 FLEETS, TO GENERATE ATTRACTIVE CASH FLOW IN 2018 Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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