KLX Energy Services Holdings, Inc. provides diversified oilfield services to onshore oil and natural gas exploration and production companies across the United States. The company offers directional drilling, coiled tubing, thru tubing, hydraulic fracturing rentals, fishing, pressure control, wireline, rig assisted snubbing, fluid pumping, flowback, testing, pressure pumping and well control services. It also rents equipment such as hydraulic fracturing stacks, blow out…
KLX Energy Services Holdings, Inc. provides diversified oilfield services to onshore oil and natural gas exploration and production companies across the United States. The company offers directional drilling, coiled tubing, thru tubing, hydraulic fracturing rentals, fishing, pressure control, wireline, rig assisted snubbing, fluid pumping, flowback, testing, pressure pumping and well control services. It also rents equipment such as hydraulic fracturing stacks, blow out preventers, tubulars, downhole tools, dissolvable plugs, composite plugs and accommodation units.
Revenue is generated primarily from service fees charged for performing these operations and from rental income on equipment provided to customers. The company serves independent major oil and gas firms as well as regional producers throughout the active basins of the country. Contracts are typically structured on a per job or daily rate basis and revenue fluctuates with drilling and completion activity levels.
KLX Energy Services Holdings, Inc. operates in a highly competitive oilfield services market where it faces large integrated providers such as Schlumberger Halliburton Baker Hughes as well as numerous regional and niche competitors. The company differentiates itself through a focus on proprietary technology development in house rigorous safety standards and a commitment to delivering engineered solutions that reduce non productive time for customers. Its broad service portfolio and ability to provide customized tools for complex well constructions give it a competitive edge in demanding unconventional plays.
The company reports a diversified customer base of more than 550 North American oil and gas exploration and production firms. No single customer accounted for more than ten percent of revenue in the most recent fiscal year while the five largest customers together contributed approximately thirty one percent of total sales. Customers range from large independent operators to smaller regional producers seeking reliable service partners.