Feb 22 (Reuters) - STEP Energy Services Ltd STEP.TO :
* STEP ENERGY SERVICES LTD. ANNOUNCES ACQUISITION OF U.S. FRACTURING AND COMPLETION SOLUTIONS COMPANY AND $50 MILLION IN EQUITY FINANCING
* STEP ENERGY SERVICES LTD - DEAL FOR TOTAL CASH CONSIDERATION OF US$275 MILLION, BEFORE CLOSING ADJUSTMENTS
* STEP ENERGY SERVICES LTD - ACQUISITION IS NOT SUBJECT TO ANY FINANCING CONDITION
* STEP ENERGY SERVICES - CO OBTAINED FINANCING OF $330 MILLION REVOLVING SYNDICATED CREDIT FACILITY, $10 MILLION OPERATING FACILITY, $7.5 MILLION OPERATING FACILITY
* STEP ENERGY SERVICES LTD - SEES NET INCOME OF BETWEEN ABOUT $17.0 MILLION AND $18.0 MILLION IN Q4 OF 2017
* STEP ENERGY SERVICES LTD - SEES Q4 REVENUE $152 MILLION TO $157 MILLION
* STEP ENERGY SERVICES - STEP IS ENCOURAGED BY BOOKING SCHEDULE FOR Q2 , AND EXPECTS QUARTER WILL BE MORE ACTIVE THAN A TYPICAL SPRING BREAKUP PERIOD