Key Energy Services (KEG -12.2%) plunges on this morning's downward guidance on Q3 revenues...

|About: Key Energy Services, Inc. (KEG)|By:, SA News Editor

Key Energy Services (KEG -12.2%) plunges on this morning's downward guidance on Q3 revenues based on declines in U.S. drilling and completion-related activity; prior expectations were for core oil market activity to be relatively flat in H2. Instead, drilling rig counts in these markets are down ~8% since the beginning of Q3, CEO Dick Alario says. Peers BAS -8% and SPN -6.7% also lower.