Key Energy Services Inc. (KEGX)

Overview

Key Energy Services, Inc., headquartered in Houston, Texas, stands as a prominent onshore rig-based well servicing contractor within the United States. Originally founded in 1977, the company initially bore the name Key Energy Group, Inc. but underwent a rebranding to Key Energy Services, Inc. in December 1998. Key Energy Services is dedicated to offering an extensive range of services crucial for the drilling, completion, maintenance, and eventual decommissioning of oil and natural gas wells. It segments its operations across various service lines including Rig Services, Fishing and Rental Services, Coiled Tubing Services, and Fluid Management Services. These divisions allow Key Energy Services to deliver tailored solutions addressing the comprehensive needs of oil and natural gas producers, underpinning the company’s reputation in the energy sector.

Products and Services

Key Energy Services, Inc. offers a diversified portfolio of well servicing solutions across four primary segments:

• Rig Services:

  This segment encompasses a wide array of services essential for the life cycle of oil and natural gas wells. From the completion of newly drilled wells to the workover and recompletion of existing ones, well maintenance, and the plugging and abandonment of wells at the end of their lifecycle. Additionally, it provides specialty drilling services, catering specifically to the needs of oil and natural gas producers.

• Fishing and Rental Services:

  Addressing challenges such as recovering lost or stuck equipment within the wellbore, this service line offers fishing services using specialized tools. Moreover, it includes the rental of a broad spectrum of equipment like drill pipes, tubulars, handling tools, pressure-control gear, pumps, power swivels, reversing units, foam air units, and frac stack equipment, supporting the critical hydraulic fracturing operations.

• Coiled Tubing Services:

  Focused on a range of well intervention and stimulation tasks, this segment provides services like wellbore clean-outs, nitrogen jet lifts, through-tubing fishing, and formation stimulations. It also specializes in milling temporary isolation plugs that segregate frac zones, along with various pre-and post-hydraulic fracturing well preparation services, essential for optimizing well performance.

• Fluid Management Services:

  This segment delivers vital services for the transportation and onsite storage of fluids used in drilling, completions, workover, and maintenance operations. It also provides fluid disposal services for the by-products produced after well completion. Furthermore, the company operates a fleet of hot oilers capable of pumping heated fluids to clear soluble restrictions within a wellbore, enhancing operational efficiency.