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Key Energy Services

 

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KEY ENERGY SERVICES (KEG) Stocks

ABOUT KEY ENERGY SERVICES

? Key Energy Services Inc., an American oilfield services company, was founded in 1977 and has its headquarters in Houston, Texas.

? The company provides an extensive portfolio of cutting-edge energy production solutions and services that enables American exploration and production (E&P) companies to get the most out of the life of their wells.

? The company’s history can be traced back to the Yankee Companies, the legacy of Yale. E. Key who stated his oil-well service business, Yale. E. Key, in the 1940s. After his death, the company was sold to the Yankee Companies.

? The latter changed its name to Key Energy in the 1990s.

? Since then, the company has grown exponentially through more than 1, 000 acquisitions.

? Key Energy Services Inc. operates a fleet of 884 well-service rigs in the U.S. It also has a technology-development and control-systems business in Canada.

? Today, the company employs approximately 7 500 people across its global operations.

HISTORY OF KEY ENERGY SERVICES

  • Key Energy Services, Inc. focuses on the provision of onshore energy production services.
  • The company conducts its operations through five primary segments: Rig Services, Fishing and Rental Services, Coiled Tubing Services, Fluid Management Services and Functional Support.
  • Rig Services comprises the completion of newly drilled wells, workover and recompletion of existing oil and natural gas wells, as well as the maintenance, plugging and abandonment of wells.
  • The Fishing and Rental Services segment provides fishing services and rental equipment.
  • Coiled Tubing Services provides for the use of a continuous metal pipe spooled onto a large reel which is then inserted into oil and natural gas wells. Fluid Management handles transportation and well-storage services for fluids used in drilling, completions and maintenance activities.
  • The Functional Support division is responsible for overhead and other costs in support of reportable segments.
  • Key Energy Services, Inc. also has regional offices in Bakersfield, California; Farmington, New Mexico; Casper, Wyoming, Fort Lupton and Grand Junction, Colorado; Lafayette and Shreveport, Louisiana; El Reno, Oklahoma and Arnoldsburg, West Virginia.
  • Globally, the company conducts operations in Mexico, Columbia, Ecuador, the Middle East and Russia.

VISION & VALUES OF KEY ENERGY SERVICES

  • Key Energy Services is guided in its decisions and actions by its core values.
  • It regards safety as an absolute obligation and puts a high premium on employee satisfaction and development.
  • It further values respect and integrity, and is accountable in its daily operations.
  • These solid values foster trust among employees, partners and shareholders who purchase company shares.

MARKET PERFORMANCE OF KEY ENERGY SERVICES

  • Key Energy Services Inc. trades on the New York Stock Exchange (NYSE) under the stock symbol KEG. The company is a Russell 2000 component.
  • For the second fiscal quarter 2019, the company reported consolidated revenue of USUS Dollar 112.9 million.
  • Investors who buy or sell company shares can expect satisfactory dividends and returns on their investment.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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