Trican Well Service Ltd. is in negotiations with Keane Group, a privately-held, U.S. based well completion services company for the sale of Trican's United States pressure pumping business.
Although talks are progressing, significant terms and conditions are still under negotiation. Accordingly, there can be no guarantee that the Company will conclude this transaction.
Further, the timing of completion of any such transaction remains uncertain. Based upon the terms and conditions currently being discussed, management believes the offered price represents fair value for this business and that the sale of this business would be in the best interest of shareholders if acceptable terms and conditions can be negotiated.