Key Energy Services, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
March 11, 2020 at 06:08 am EDT
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Key Energy Services, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced sales was USD 85.115 million compared to USD 117.253 million a year ago. Operating loss was USD 20.755 million compared to USD 15.113 million a year ago. Net loss was USD 30.185 million compared to USD 23.078 million a year ago. Basic loss per share was USD 73.62 compared to USD 56.84 a year ago.
For the full year, sales was USD 413.854 million compared to USD 521.695 million a year ago. Operating loss was USD 67.886 million compared to USD 58.966 million a year ago. Net loss was USD 97.418 million compared to USD 88.796 million a year ago. Basic loss per share was USD 238.77 compared to USD 219.25 a year ago.
Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies and independent oil and natural gas production companies. The Company's segments include Rig Services, Fishing and Rental Services, and Coiled Tubing Services. The Rig Services segment includes the completion of newly drilled wells, workover and recompletion of existing oil and natural gas wells, well maintenance, and the plugging and abandonment of wells. The Fishing and Rental Services segment offers a line of fishing services and rental equipment designed for use in providing both onshore drilling and workover services. The Coiled Tubing Services segment involves the use of metal pipe spooled onto a large reel which is then deployed into oil and natural gas wells to perform various applications.
KEY ENERGY SERVICES, INC. 
