Key Energy Reports Increased Quarterly Revenues

Houston-based Key Energy Services has reported third quarter 2014 revenues of $365.8 million, according to an announcement by the company that operates in Oklahoma.

The results for the quarter include a pre-tax charge of $60.8 million, or $0.25 a share for an impairment of the Company’s U.S. assets and pre-tax costs of $16.1million or 7-cents a share.

The nearly 366 million compares to the second quarter consolidated revenues of $350.6 million.

The company said its increase in third quarter U.S. revenues was mostly form higher activity in Rig Services, where rig hours increased 3 percent to 365,891 hours. Fishing and Rental Services revenue was also up driven by growth in the Bakken and Permian Basin.

Read the entire Key Quarterly report here


%d bloggers like this: