As of July 28, 2020, Quintana Energy Services Inc. was founded in 2017 and is headquartered in Houston, Texas. This segment also provides cased-hole production logging, injection profiling, stimulation performance evaluation, and water break-through identification services and industrial logging services for cavern, storage, and injection wells. The Wireline segment offers pump-down services for setting plugs between hydraulic fracturing stages, as well as the deployment of perforation equipment in connection with plug-and-perf operations. This segment had a fleet of 24 coiled tubing, 36 rig-assisted snubbing, and 24 nitrogen pumping units. The Pressure Control segment offers coiled tubing, rig-assisted snubbing, fluid pumping, nitrogen, well control, and other pressure control related services to support completion and workover operations. As of December 31, 2019, this segment had a pressure pumping fleet of 253,150 hydraulic horsepower. The Pressure Pumping segment provides hydraulic fracturing stimulation services, cementing, and acidizing services for the completion, production, and maintenance of oil and gas wells. The Directional Drilling segment provides directional, horizontal, under balanced, and measurement-while-drilling services, as well as rental tools and support services. The higher lobe configuration would be considered a slow-speed, high-torque motor. The company operates in four segments: Directional Drilling, Pressure Pumping, Pressure Control, and Wireline. As in hard formation drilling with insert bits, the directional driller will choose a higher lobe configuration because insert bits do not tolerate high rpm and more bit weight is required to drill in hard rock.
provides oilfield services to onshore oil and natural gas exploration and production companies operating in conventional and unconventional plays in the United States. The transaction is expected to close in the second half of 2020.Quintana Energy Services Inc. KLXE shares are trading just above $1, while QES received a listing warning from NYSE last week because its share price had been trading below $1 for 30 days. The enterprise value of KLX is $146 million, while that of QES is $63 million. More than half of that will come from the rationalization of KLXE’s Florida headquarters. On a proforma basis, the company would have combined 2019 revenues of $1 billion and $146 million of adjusted EBITDA, after an estimated $40 million in annualized cost synergies. Likewise, Keefer Lehner, the CFO of QES, takes the top financial position. However, the corporate offices will remain in Houston.Ĭhristopher Baker, the current CEO of QES, will become the CEO of the combined group. The combined company will retain the KLX name and ticker. KLXE shareholders will hold approximately 59% of the combined company, QES 41%. It was spun out of its parent company, KLX Inc, into a separate public company in September 2018. KLXE was formed from the combination and integration of seven private oilfield service acquired between 20. KLXE primarily operates in completion, intervention and production services. QES operates in four segments: Directional Drilling, Pressure Pumping, Pressure Control and Wireline. to closing of its pending merger with Quintana Energy Services (NYSE: QES ). Houston-based Quintana Energy Services (ticker QES) has agreed to merge with KLX Energy Services (KLXE) in an all-stock transaction. Quintana operates its Directional Drilling Services business through The.
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