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SEC Filings

8-K
KEY ENERGY SERVICES INC filed this Form 8-K on 08/09/2017
Entire Document
 


 
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August 8, 2017

 
 
 


the access code 57872114. The conference call will also be available live via the internet. To access the webcast, go to www.keyenergy.com and select "Investor Relations."
A telephonic replay of the conference call will be available on Wednesday, August 9, 2017, beginning approximately two hours after the completion of the conference call and will remain available for one week. To access the replay, call 855-859-2056 or 800-585-8367. The access code for the replay is 57872114. The replay will also be accessible at www.keyenergy.com under "Investor Relations" for a period of at least 90 days.
Consolidated Statements of Operations (in thousands, except per share amounts, unaudited):
 
 
Successor
 
 
Predecessor
 
Successor
 
 
Predecessor
 
 
Three Months Ended June 30, 2017
 
Three Months Ended March 31, 2017
 
 
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2017
 
 
Six Months Ended June 30, 2016
REVENUES
 
$
107,780

 
$
101,452

 
 
$
95,012

 
$
209,232

 
 
$
206,100

COSTS AND EXPENSES:
 
 
 
 
 
 
 
 
 
 
 
 
Direct operating expenses
 
63,560

 
87,306

 
 
89,419

 
150,866

 
 
180,017

Depreciation and amortization expense
 
20,910

 
21,301

 
 
35,856

 
42,211

 
 
71,608

General and administrative expenses
 
30,334

 
30,996

 
 
40,903

 
61,330

 
 
87,148

Impairment expense
 

 
187

 
 

 
187

 
 

Operating loss
 
(7,024
)
 
(38,338
)
 
 
(71,166
)
 
(45,362
)
 
 
(132,673
)
Interest expense, net of amounts capitalized
 
7,872

 
7,710

 
 
21,357

 
15,582

 
 
42,941

Other (income) loss, net
 
(961
)
 
(240
)
 
 
412

 
(1,201
)
 
 
(819
)
Reorganization items, net
 
101

 
1,340

 
 

 
1,441

 
 

Loss before tax income taxes
 
(14,036
)
 
(47,148
)
 
 
(92,935
)
 
(61,184
)
 
 
(174,795
)
Income tax benefit
 
853

 
289

 
 
133

 
1,142

 
 
379

NET LOSS
 
$
(13,183
)
 
$
(46,859
)
 
 
$
(92,802
)
 
$
(60,042
)
 
 
$
(174,416
)
Loss per share:
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted
 
$
(0.66
)
 
$
(2.33
)
 
 
$
(0.58
)
 
$
(2.99
)
 
 
$
(1.09
)
Weighted average shares outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted
 
20,099

 
20,096

 
 
160,982

 
20,098

 
 
160,514





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