Keane Group Inc. recently announced its Q4 and total 2016 earnings. In many respects, the company is doing well, with significantly increased revenue and EBITDA. However, its net loss was quite high at the end of December as compared to the same time the previous year. But Keane has a plan: continuing to provide high-quality services and products—and entering into an asset-based revolving credit facility with Marc Lipschultz’s Owl Rock Capital.

Keane is an oil field servicing company offering a variety of energy-related services and technologies, including hydraulic fracturing, engineered solutions, wireline technologies, coiled tubing, nitrogen units, top hole air rig packages, and cementing. They are dedicated to maintaining optimal health, safety, and environmental practices.

According to a recent press release, Keane’s fourth quarter included some significant wins:

  • Keane’s 2016 revenue was $151 million, compared to its 2015 fourth quarter revenue of $54 million.
  • The company’s 2016 adjusted EBITDA was $6.1 million, compared to a $0.4 million EBITDA at the same time last year.
  • They averaged 12 deployed hydraulic fracturing fleets during Q4.
  • The company completed its initial public offering, with a portion of the proceeds going toward fully repaying the pre-existing term loan facility.

“We are proud of the strong financial and operational performance our team achieved during the fourth quarter and throughout 2016,” said James C. Stewart, Keane’s Chairman and Chief Executive Officer.

Keane’s net loss for 2016, however, dims the brightness of those figures a bit. In 2015, the company’s net loss was $64.6 million. By the end of last year, it was $187.1 million.

That’s where Owl Rock comes in. Keane has entered into a new $150 million asset-based revolving credit facility with the lending platform. This new agreement gives Keane an additional $50.4 million, to be funded this month.

While the ultimate effect of this deal remains to be seen, Keane’s stock appears to be doing well after these changes. Scotiabank has reissued its “hold” rating and is predicting a potential upside of 47.51 percent from current stock level prices.