Key Energy Services, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 07, 2019 at 05:28 pm EST
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Key Energy Services, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 106.523 million compared to USD 134.721 million a year ago. Operating loss was USD 17.392 million compared to USD 17.115 million a year ago. Net loss was USD 25.489 million compared to USD 23.860 million a year ago. Basic loss per share was USD 1.25 compared to USD 1.18 a year ago. For the nine months, sales was USD 328.739 million compared to USD 404.442 million a year ago. Operating loss was USD 47.131 million compared to USD 43.853 million a year ago. Net loss was USD 67.233 million compared to USD 65.718 million a year ago. Basic loss per share was USD 3.3 compared to USD 3.25 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. 
