Key Energy Services, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 13, 2020 at 05:57 pm EDT
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Key Energy Services, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 34.750 million compared to USD 112.943 million a year ago. Operating loss was USD 16.845 million compared to USD 14.427 million a year ago. Net loss was USD 19.125 million compared to USD 18.303 million a year ago. For the half year, sales was USD 110.058 million compared to USD 222.216 million a year ago. Operating loss was USD 69.919 million compared to USD 29.739 million a year ago. Net income was USD 89.869 million compared to net loss of USD 41.744 million 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. 
