KLX Energy Services Holdings, Inc. (NASDAQ: KLXE)

KLX Energy Services Holdings, Inc. is a growth-oriented provider of diversified oilfield services, catering to leading onshore oil and natural gas exploration and production (E&P) companies across the United States. The company operates in both conventional and unconventional plays, offering mission-critical services to support drilling, completion, production, and intervention activities. KLX Energy Services was initially formed through the integration of seven private oilfield service companies acquired between 2013 and 2014, and it became an independent, publicly traded company following its spin-off from KLX Inc. in September 2018. The company's strategic acquisitions, including the 2020 acquisition of Quintana Energy Services Inc. and the 2023 acquisition of Greene's Energy Group, LLC, have further expanded its service offerings and market reach.

KLX Energy Services generates revenue by delivering a comprehensive suite of oilfield services and related tools and equipment. The company's primary services include directional drilling, coiled tubing, thru tubing, hydraulic frac rentals, fishing, pressure control, wireline, rig-assisted snubbing, fluid pumping, flowback, testing, pressure pumping, and well control services. Additionally, the company offers a range of rentals and products, such as hydraulic fracturing stacks, blowout preventers, tubulars, downhole tools, dissolvable plugs, composite plugs, and accommodation units. The company's customer base primarily consists of independent major oil and gas companies focused on drilling, completion, production, and intervention activities. As of December 31, 2025, revenues from the company's five largest customers collectively represented approximately 31% of its total revenues, with no single customer accounting for more than 10% of its revenues.

• Southwest Region: This segment includes the Permian Basin and the Eagle Ford, where KLX Energy Services provides a range of services tailored to the specific needs of these active basins. The company's offerings in this region include directional drilling, coiled tubing, thru tubing, hydraulic frac rentals, fishing, pressure control, wireline, rig-assisted snubbing, fluid pumping, flowback, testing, pressure pumping, and well control services. The company also provides hydraulic fracturing stacks, blowout preventers, tubulars, downhole tools, dissolvable plugs, composite plugs, and accommodation units to support operations in these basins.

• Rocky Mountains Region: This segment encompasses the Bakken, Williston, DJ, Uinta, Powder River, Piceance, and Niobrara basins. KLX Energy Services delivers a comprehensive suite of services in this region, including directional drilling, coiled tubing, thru tubing, hydraulic frac rentals, fishing, pressure control, wireline, rig-assisted snubbing, fluid pumping, flowback, testing, pressure pumping, and well control services. The company also supplies hydraulic fracturing stacks, blowout preventers, tubulars, downhole tools, dissolvable plugs, composite plugs, and accommodation units to support the unique requirements of these basins.

• Northeast/Mid-Con Region: This segment covers the Marcellus and Utica basins, as well as the Mid-Continent STACK and SCOOP and Haynesville basins. KLX Energy Services offers a full range of services in this region, including directional drilling, coiled tubing, thru tubing, hydraulic frac rentals, fishing, pressure control, wireline, rig-assisted snubbing, fluid pumping, flowback, testing, pressure pumping, and well control services. The company also provides hydraulic fracturing stacks, blowout preventers, tubulars, downhole tools, dissolvable plugs, composite plugs, and accommodation units to support operations in these basins.

KLX Energy Services operates in a highly competitive industry, competing on factors such as performance, safety, quality, reliability, service, price, response time, and the breadth of services and products offered. The company's major competitors include Schlumberger, Halliburton, Baker Hughes, Patterson-UTI Energy, Liberty Oilfield Services, RPC, ProPetro Holding Corp., Phoenix Technology Services, STEP Energy Services, Ranger Energy Services, Nine Energy Services, Scientific Drilling International, and other private competitors. To differentiate itself from competitors, KLX Energy Services focuses on delivering a broad range of drilling, completion, production, and intervention services safely with high-quality equipment and highly competent personnel. The company believes its customers select its services based on local leadership, relationships, and expertise that its field management and operating personnel use to deliver quality services. KLX Energy Services maintains and develops new business through corporate, regional, safety, quality, and discrete product/service specialist sales teams throughout the United States.

Substantially all of KLX Energy Services' customers are engaged in the energy industry, with most sales going to major, large independent, and regional oil and natural gas companies. The company's diversified and geographically balanced portfolio includes more than 550 customers within North America. The company's sales activities are conducted through a network of sales representatives and business development personnel, which provide coverage on a product-line and geographical basis. Sales representatives work closely with local operations managers to target potential opportunities through strategic focus and planning. Customers are identified as targets based on their drilling and completion activity, geographic location, and economic viability. The company's marketing activities are performed internally, with a strategy based on building a strong North American brand through multiple media outlets, including its website, select social media accounts, print, billboard advertisements, press releases, and various industry-specific conferences, publications, and lectures.