Key Energy Services

Key Energy Services, Inc. engages in the provision of onshore energy production services. It operates through the following segments: Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services. The Rig Services segment includes the completion of newly drilled wells, work over, and recompletion of existing oil and natural gas wells, well maintenance, and the plugging and abandonment of wells. The Fishing and Rental Services segment provides drilling and workover services. The Coiled Tubing Services segment offers the use of a continuous metal pipe spooled onto a large reel which is then deployed into oil and natural gas wells. The Fluid Management Services segment covers the provision of transportation and well-site storage services for fluids utilized in connection with drilling, completions, work over, and maintenance activities. The company was founded in April 1977 and is headquartered in Houston, TX.

Key Energy Services, Inc. (KEGX) delivered earnings and revenue surprises of 66.52% and 46.45%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?

Key Energy Services, Inc. (KEGX) Reports Q3 Loss, Tops Revenue Estimates

HOUSTON, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Key Energy Services, Inc. (“Key” or the “Company”)(OTC: KEGX) today reported third quarter 2020 consolidated revenues of $42.9 million and a net loss of $3.9 million, or $(0.28) per basic share, as compared to consolidated revenues of $34.8 million and a net loss of $19.1 million, or $(1.39) per basic share, for the second quarter of 2020. The results for the third quarter of 2020 include: (1) severance and restructuring related expense of $0.3 million, or $(0.02) per basic share, related to the Company's ongoing cost reduction efforts and the first quarter debt restructuring; (2) a gain of $8.0 million, or $0.58 per basic share, related to a favorable settlement of a legal matter; (3) gains on the sale of assets of $0.5 million, or $0.04 per basic share; (4) non-recurring professional fees of $1.5 million, or $(0.11) per basic share; and (5) share-based compensation expense of $0.4 million, or $(0.03) per basic share. Excluding these items, the Company reported a net loss of $10.2 million, or $(0.74) per basic share, for the third quarter of 2020.

Key Energy Services Reports Third Quarter 2020 Earnings

Key Energy Services, Inc. (KEGX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Will Key Energy Services, Inc. (KEGX) Report Negative Q3 Earnings? What You Should Know

Key Energy Services, Inc. (KEG) CEO Marshall Dodson on Q2 2020 Results - Earnings Call Transcript

Key Energy Services, Inc. (KEGX) delivered earnings and revenue surprises of 49.15% and 7.25%, respectively, for the quarter ended June 2020.

Key Energy Services, Inc. (KEGX) Reports Q2 Loss, Tops Revenue Estimates

HOUSTON, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Key Energy Services, Inc. (“Key” or the “Company”) (OTC: KEGX) reported second quarter 2020 consolidated revenues of $34.8 million and a net loss of $19.1 million, or $(1.39) per basic share, as compared to consolidated revenues of $75.3 million and net income of $109.0 million, or $26.66 per basic share, for the first quarter of 2020.  The results for the second quarter of 2020 include: (1) severance expense of $2.2 million, or $0.16 per basic share, related to the Company's ongoing cost reduction efforts; (2) restructuring expenses of $0.7 million, or $0.05 per basic share, related to the Company's debt restructuring completed in the first quarter of 2020; (3) gains on the sale of assets of $0.6 million, or $0.04 per basic share; and (4) share-based compensation expense of $0.3 million, or $0.02 per basic share, related to certain outstanding equity awards.  Excluding these items, the Company reported a net loss of $16.5 million, or $(1.20) per basic share, for the second quarter of 2020.

Key Energy Services Reports Second Quarter 2020 Earnings

Key Energy Services, Inc. (KEG) CEO Marshall Dodson on Q1 2020 Results - Earnings Call Transcript

Key Energy Services Inc (KEGX) delivered earnings and revenue surprises of 151.05% and -7.48%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Key Energy Services Inc (KEGX) Tops Q1 Earnings Estimates

Key Energy Services, Inc. (KEG) Q4 2019 Results - Earnings Call Transcript

HOUSTON, Dec.  09, 2019  (GLOBE NEWSWIRE) -- Key Energy Services, Inc. (“Key” or the “Company”) (OTC: KEGX) announced today that it has entered into an extension of its forbearance agreements with its Term Loan and ABL Lenders until the earlier of January 10, 2020 or the occurrence of certain specified early termination events.

Key Energy Services Announces Forbearance Agreement Extension with Term Loan and ABL Lenders

HOUSTON, Nov.  27, 2019  (GLOBE NEWSWIRE) -- On November 27, 2019, Key Energy Services, Inc. (“Key” or the “Company”) (NYSE: KEG) was notified by the New York Stock Exchange (the “NYSE”) that the NYSE had determined to commence proceedings to delist the Company’s common stock (the “Common Stock”) from the NYSE as a result of the Company’s failure to maintain an average global market capitalization over a consecutive 30 trading-day period of at least $15 million pursuant to Rule 802.01B of the NYSE Listed Company Manual.  The NYSE also suspended trading of the Common Stock effective immediately.

Key Energy Receives Delisting Notice From NYSE

HOUSTON, Nov.  20, 2019  (GLOBE NEWSWIRE) -- Key Energy Services, Inc. (“Key” or the “Company”) (NYSE: KEG) announced today that on November 18, 2019, the Company received a letter from the New York Stock Exchange (the “NYSE”) notifying it that, over a period of 30 consecutive trading days, the average closing price of Key’s common shares was below the minimum $1.00 per share requirement for continued listing on the NYSE under Item 802.01C of the NYSE Listed Company Manual. 

Key Energy Receives Notice From NYSE Regarding Continued Listing Requirements

Key Energy Services, Inc. (KEG) CEO Rob Saltiel on Q3 2019 Results - Earnings Call Transcript

HOUSTON, Oct.  31, 2019  (GLOBE NEWSWIRE) -- Key Energy Services, Inc. (“Key” or the “Company”) (NYSE: KEG) announced today that it has engaged Moelis & Company LLC as its financial advisor and Sullivan & Cromwell LLP as its legal advisor to assist the Company in analyzing various strategic alternatives to address its capital structure and to position the Company for future success.

Key Energy Services Announces Strategic Review of Capital Structure; Enters Into Forbearance Agreements with Term Loan and ABL Lenders

Key Energy Services, Inc. (KEG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report.

Will Key Energy Services, Inc. (KEG) Report Negative Earnings Next Week?

Key Energy Services, Inc. (KEG) CEO Rob Saltiel on Q2 2019 Results - Earnings Call Transcript

Investors need to pay close attention to Key Energy Services (KEG) stock based on the movements in the options market lately.

Implied Volatility Surging for Key Energy Services (KEG) Stock Options

Key Energy Services, Inc. (KEG) CEO Rob Saltiel on Q1 2019 Results - Earnings Call Transcript

Key Energy Services, Inc. (KEG) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release

When the markets closed on Thursday for the long weekend, Key Energy Services Inc. (NYSE: KEG) had a market cap of around $77 million.

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