Welcome to our dedicated page for KLX Energy Services Holdings news (Ticker: KLXE), a resource for investors and traders seeking the latest updates and insights on KLX Energy Services Holdings stock.
KLX Energy Services Holdings, Inc. provides diversified oilfield services to onshore oil and natural gas exploration and production companies in conventional and unconventional U.S. basins. Its updates center on drilling, completion, production and intervention activity for technically demanding wells, supported by proprietary products, specialized services, and in-house manufacturing, repair and maintenance capabilities.
Company news commonly covers quarterly and annual results, Adjusted EBITDA and liquidity disclosures, earnings-call schedules, investor conference participation, and management changes. KLX also reports conditions affecting U.S. land drilling, completion and production demand, including commodity-price volatility and oilfield-services activity levels.
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KLX Energy Services Holdings, Inc. (NASDAQ: KLXE) announced that it will report its first quarter financial results for 2023 on May 11, 2023, at 10:00 a.m. Eastern Time. The results will be shared during a live conference call, which can be accessed via phone or webcast. For those unable to attend the live call, a replay will be available until May 25, 2023. KLX specializes in providing diversified oilfield services to onshore oil and natural gas exploration companies across major basins in the United States. The company operates over 50 service facilities and focuses on drilling, completion, production, and intervention activities. More information can be found on their official website.
KLX Energy Services Holdings announced the acquisition of Greene's Energy Group in an all-stock transaction valued at approximately $30.3 million. This acquisition is expected to enhance KLX's frac rental and flowback services, particularly in the Permian and Eagle Ford basins. Greene's reported $68 million in revenue and $5.3 million in net income in 2022. The transaction will result in annualized cost synergies of $2-3 million within 12 months and will be accretive to KLX's financial metrics. After the acquisition, former Greene's shareholders will own about 14.7% of KLX's stock.