KLX Energy Services

#10072

Rank

$29.25M

Marketcap

United States

Country

Leadership team

Mr. Christopher J. Baker (Pres, CEO & Director)

Mr. Keefer M. Lehner (Exec. VP & CFO)

Mr. Max L. Bouthillette (Exec. VP, Gen. Counsel, Chief Compliance Officer & Sec.)

Products/ Services

Energy, Energy Efficiency, Energy Management

Number of Employees

1,000 - 20,000

Headquarters

Houston, Texas, United States

Established

2007

Company Registration

SEC CIK number: 0001738827

Revenue

500M - 1B

Traded as

KLXE

Social Media

URL

https://www.klxenergy.com

Overview

Location

Recognition and Award

References

Summary

KLX Energy Services Holdings, Inc. provides drilling, completions, production, and well intervention services and products to the onshore oil and gas producing regions of the United States. The company operates through three segments: Southwest, Rocky Mountains, and Northeast/Mid-Con. It provides directional drilling services; and downhole navigational and rental tools businesses and support services, including well planning, site supervision, accommodation rentals, and other drilling rentals. The company also offers coiled tubing and nitrogen services; pressure control products and services; wellhead and hydraulic fracturing rental products and services; flowback and testing services; and wireline services. In addition, it offers toe sleeves; wet shoe cementing bypass subs; composite plugs; dissolvable plugs; liner hangers; stage cementing tools, inflatables, float and casing equipment; retrievable completion tools; cementing products and services; thru-tubing technologies and services; rig assist snubbing services; and acidizing and pressure pumping services. Further, the company provides production services comprising maintenance-related intervention services; production blow out presenters; mechanical wireline services; slick line services; hydro-testing services; premium tubulars; and other specialized production tools. It also provides intervention services consisting of technicians and equipment that are focused on providing customers engineered solutions to downhole complications. The company offers a range of technical services, and related tools and equipment to companies engaged in the exploration and development of North American onshore conventional and unconventional oil and natural gas reserves. KLX Energy Services Holdings, Inc. was incorporated in 2018 and is headquartered in Houston, Texas.

History

The company was founded in 1989 by Terence Hall, a native of Louisiana. It had an initial public offering in 1995, when it became listed on the New York Stock Exchange. Hall remained CEO of the company until he stepped down in 2010 and was replaced by current CEO David Dunlap.In 2012, the company grew significantly with its acquisition of Complete Production Services for approximately $2.7 billion.In 2020, the company announced it intent to file chapter 11 protective bankruptcy which was approved in January 2021.

On February 1, 2021, CEO David Dunlop sold shares of SPNX while knowing the stock would be deleted in 2 days

On February 3, 2021, Superior Energy released a PR stating the company was out of bankruptcy

On February 4, 2021, Superior Energy stock, under symbol SPNX, was deleted, and became worthless. This had been foretold by the company in documents filed by the company with the U.S. Securities and Exchange Commission as part of its bankruptcy process.

On March 22, 2021, Superior Energy announced the removal of CEO David Dunlap and CFO Wesley Ballard.

Mission

our mission of excellence and to foster new possibilities for our customers, shareholders, and employees. As a separate entity, KLX is able to focus with even greater precision on our areas of specialty - distribution, logistics, and technical services - through our two business segments: KLX Aerospace Solutions and KLX Energy Services. The KLX logo is a visual manifestation of our mission and purpose. Stronger when performing together, the multiple pieces align to form a singular entity. Like the ""X"" in our name, our two businesses intersect at the heart of what we do - we bring the best people and solutions together to meet and exceed the needs of those whom we serve. This is the essence behind the KLX mission: to provide expert solutions propelled by passion and experience for continued momentum, both yours and ours.

Vision

To be the industry leader in providing comprehensive and integrated oil and gas services, solutions and value-added technologies that secure our customers' operational performance.

Key Team

Mr. Geoffrey C. Stanford (Sr. VP & Chief Accounting Officer)

Recognition and Awards

KLX Energy Services has been recognized by OTC and Oil & Gas Awards for its commitment to safety and operational excellence. The company has also been recognized by the Society of Petroleum Engineers for its energy management solutions and collaboration with energy industry leaders in the development of innovative solutions.