Company profile

Ticker
KEGX
Exchange
CEO
Robert J. Saltiel
Employees
Incorporated in
Location
Fiscal year end
Former names
Key Energy Group Inc, National Environmental Group Inc
SEC CIK
IRS number
42648081

KEGX stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

15 May 20
9 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 0 0 0 0
Net income 108.99M -30.19M -25.49M -18.3M
Diluted EPS 26.66 -73.62 -62.32 -44.86
Operating income -53.07M -20.76M -17.39M -14.43M
Net change in cash 11.14M -8.18M -6.68M -6.41M
Cash on hand 25.57M 14.43M 22.61M 29.28M
Cost of revenue 61.66M 66.75M 87.96M 90.56M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 15
Revenue 0 0 0 0
Net income -97.42M -88.8M -120.59M -917.7M
Diluted EPS -238.77 -219.25 -299.97 -5.86
Operating income -67.89M -58.97M -96.18M -1.03B
Net change in cash -35.89M -22.75M -131.29M 177.05M
Cash on hand 14.43M 50.31M 73.07M 204.35M
Cost of revenue 333.46M 406.4M 332.33M 714.64M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
1 Jul 20 Coale Louis Common Stock Payment of exercise Dispose F No 13.35 17 226.95 9,710
15 Jun 20 Haight Nelson Common Stock Grant Aquire A No 0 30,055 0 30,055
1 Apr 20 Wommack H H Iii Common Stock Grant Aquire A No 9.98 11,022 110K 11,729
1 Apr 20 Sherman Edmiston III Common Stock Grant Aquire A No 9.98 11,022 110K 11,729
1.4% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 4 37 -89.2%
Opened positions 1 4 -75.0%
Closed positions 34 21 +61.9%
Increased positions 0 9 EXIT
Reduced positions 0 14 EXIT
13F shares
Current Prev Q Change
Total value 18K 12.06M -99.9%
Total shares 186.1K 6.62M -97.2%
Total puts 0 27.27K EXIT
Total calls 0 10.2K EXIT
Total put/call ratio 2.7
Largest owners
Shares Value Change
BCS Barclays 163.99K $16K NEW
RBF Capital 12K $1K 0.0%
Enterprise Bank & Trust 10.11K $1K 0.0%
Proequities 0 $0
Largest transactions
Shares Bought/sold Change
Contrarian Capital Management, L.L.C. 0 -1.9M EXIT
Rutabaga Capital Management 0 -1.88M EXIT
Hotchkis & Wiley Capital Management 0 -795.8K EXIT
MHR Fund Management 0 -522.39K EXIT
FHI Federated Hermes 0 -273.18K EXIT
Vanguard 0 -239.6K EXIT
Boston Partners 0 -200.43K EXIT
Bridgeway Capital Management 0 -166.8K EXIT
IVZ Invesco 0 -164.59K EXIT
BCS Barclays 163.99K +163.99K NEW

Financial report summary

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Risks
  • Our business is cyclical and depends on conditions in the oil and natural gas industry, especially oil and natural gas prices and capital and operating expenditures by oil and natural gas companies. A continuation of the depressed state of our industry, tight credit markets and disruptions in the U.S. and global economies and financial systems may adversely impact our business.
  • We may not be able to generate sufficient cash flow to meet our debt service and other obligations.
  • The amount of our debt and the covenants in the agreements governing our debt could negatively impact our financial condition, results of operations and business prospects.
  • We may incur more debt and long-term lease obligations in the future.
  • Variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • We may be unable to implement price increases or maintain existing prices on our core services.
  • We participate in a capital-intensive industry. We may not be able to finance future growth of our operations or future acquisitions.
  • Increased labor costs or the unavailability of skilled workers could hurt our operations.
  • Our future financial results could be adversely impacted by asset impairments or other charges.
  • Our business involves certain operating risks, which are primarily self-insured, and our insurance may not be adequate to cover all insured losses or liabilities we might incur in our operations.
  • We operate in a highly competitive industry, with intense price competition, which may intensify as our competitors expand their operations.
  • Historically, we have experienced a high employee turnover rate. Any difficulty we experience replacing or adding workers could adversely affect our business.
  • We may not be successful in implementing and maintaining technology development and enhancements. New technology may cause us to become less competitive.
  • The loss of or a substantial reduction in activity by one or more of our largest customers could materially and adversely affect our business, financial condition and results of operations.
  • Potential adoption of future state or federal laws or regulations surrounding the hydraulic fracturing process could make it more difficult to complete oil or natural gas wells and could materially and adversely affect our business, financial condition and results of operations.
  • Permit conditions, legislation or regulatory initiatives could restrict our ability to dispose of fluids produced subsequent to well completion, which could have a material adverse effect on our business.
  • We may incur significant costs and liabilities as a result of environmental, health and safety laws and regulations that govern our operations.
  • Severe weather could have a material adverse effect on our business.
  • Acquisitions and divestitures - we may not be successful in identifying, making and integrating acquisitions or limiting ongoing costs associated with the operations we divest.
  • Compliance with climate change legislation or initiatives could negatively impact our business.
  • Conservation measures and technological advances could reduce demand for oil and natural gas.
  • Our operations may be subject to cyber-attacks that could have an adverse effect on our business operations.
  • Our stockholder base is highly concentrated; the resale of shares of our common stock by existing stockholders, as well as shares issuable upon exercise of our warrants, may adversely affect the market price of our common stock.
  • We cannot assure you that an active trading market for our common stock will develop or be maintained, and the market price of our common stock may be volatile, which could cause the value of your investment to decline.
  • The Company does not expect to pay dividends on its common stock in the foreseeable future.
  • Certain provisions of our corporate documents and Delaware law, as well as change of control provisions in our debt agreements, could delay or prevent a change of control, even if that change would be beneficial to stockholders, or could have a material negative impact on our business.
Management Discussion
  • Our revenues for the three months ended March 31, 2020 decreased $34.0 million, or 31.1%, to $75.3 million from $109.3 million for the three months ended March 31, 2019, due to lower spending from our customers as a result of lower oil prices. These market conditions resulted in reduced customer activity. Additionally, in the fourth quarter of 2019, the company strategically exited a number of non-core and underperforming locations. See “Segment Operating Results — Three Months Ended March 31, 2020 and 2019” below for a more detailed discussion of the change in our revenues.
  • Our direct operating expenses decreased $26.5 million, to $61.7 million (81.9% of revenues), for the three months ended March 31, 2020, compared to $88.2 million (80.7% of revenues) for the three months ended March 31, 2019. This decrease is primarily a result of a decrease in employee compensation costs, fuel expense and repair and maintenance expense due to a decrease in activity levels.
  • Depreciation and amortization expense decreased $4.1 million, or 28.5%, to $10.2 million during the three months ended March 31, 2020, compared to $14.3 million for the three months ended March 31, 2019. This decrease is primarily due to certain assets becoming fully depreciated.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
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H.S. senior Avg
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