Houston, Texas based Key Energy Services (KEG) is the biggest onshore rig-based well services contractor in terms of the number of rigs. The company has operations in all the leading energy plays of the United States from the oil markets of Permian and Bakken to the gas markets of Haynesville. The company also has international operations in Latin America, Middle East and Russia.
Key has been growing at a reasonable pace, but since Q2-2012, the firm has reported declining revenues. Key has now recorded four consecutive drops in sequential revenues. This came on the back of softness in the U.S market. Here, the drop was primarily due to the weak natural gas pricing environment and a reduction...
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