Key Energy Services Breakout Notes
David Brunnert, senior vice president and COO of Key Energy Services, Inc., (ticker: KEG) presented today at EnerCom’s The Oil & Gas Conference® 22.
Key Energy Services is an oil and gas service company with a range of services and products. The company is focusing its operations in the United States, though it has historically—and still does—maintain some international business. Key’s services include rig services, fishing and rental, fluid management, and coiled tubing.
During its second quarter, Key’s revenue in its Fluid Management segment grew by 5.4% over Q1 revenues up to $18.9 million. Its coiled tubing revenues experienced an even greater increase of 71.6%, up to $9.2 million. Much of its coiled tubing activity was completion-centric. Key also divested some assets, including its frac-stack and well testing assets—for approximately $20.7 million.
During the company’s breakout session, management was asked the following questions:
- How has the company adapted in recent years?
- Are there any challenges in California, if so; how is the company addressing them?
- What happened to the allocation of rigs around the world as oil prices fluctuated?
- What are the future expectations for the company?
- When is a Class-5 rig needed?
- What are the company’s feelings on the silica roll?
- Is the demand heavily dependent on oil prices?
- Do you have any evidence that proppant loading will increase the company’s service?
- What other services is the company providing?
- Logistically, what is the company seeing?
- Is there a difference in service provided between gas wells and oil wells?
- Is the preparatory data still being sold?
Key Energy Services presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
