Renewable Energy

Oilfield services firms Keane Group, C&J Energy to merge in deal valued at $1.8 bln

Oilfield services company Keane Group Inc said on Monday it will buy rival C&J Energy Services in a deal valued at about $1.8 billion, including debt, as it looks to scale up amid spending cuts by crude producers.

June 17 (Reuters) - Oilfield services company Keane Group Inc FRAC.N said on Monday it will buy rival C&J Energy Services CJ.N in a deal valued at about $1.8 billion, including debt, as it looks to scale up amid spending cuts by crude producers.

Reuters had reported earlier on Monday that the two companies are set to merge.

(Reporting by Debroop Roy in Bengaluru; Editing by Shinjini Ganguli)

((Debroop.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1690; Reuters Messaging: debroop.roy.thomsonreuters.com@reuters.net))

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