Showing posts with label Key Energy. Show all posts
Showing posts with label Key Energy. Show all posts
Thursday, October 11, 2012
BHP (BHP) (EOG) (KEG) (NBL) (PDCE) Downgraded
BHP Billiton (BHP), EOG Resources (EOG), Key Energy (KEG), Noble Energy (NBL) and PDC Energy Inc. (PDCE) were downgraded by analysts.
Canaccord Genuity downgraded BHP Billiton (BHP) from a "Buy" rating to a "Hold" rating.
Tudor Pickering downgraded EOG Resources (EOG) from a "Buy" rating to a "Accumulate" rating.
Howard Weil downgraded Key Energy (KEG) from an "Outperform" rating to a "Market Perform" rating.
Wells Fargo & Co. downgraded Noble Energy (NBL) from an "Outperform" rating to a "Market Perform" rating.
Wells Fargo & Co. downgraded PDC Energy Inc. (PDCE) from an "Outperform" rating to a "Market Perform" rating.
Monday, October 4, 2010
Patterson-UTI (Nasdaq:PTEN) Acquires Key Energy (NYSE:KEG) Assets
Patterson-UTI Energy (Nasdaq:PTEN) has acquired two assets from Key Energy Services, Inc. (NYSE:KEG) via two subsidiaries.
Universal Pressure Pumping, Inc. and Universal Wireline acquired wireline and pressure pumping assets from Key Energy for about $238 million in cash. They were subsidiaries of Key Energy.
Patterson-UTI's Chairman Mark S. Siegel said about the acquisition, "We are pleased to complete this acquisition that significantly expands one of our core businesses. This acquisition was funded with a combination of cash on hand and a draw under our $400 million revolving line of credit."
Key acquired assets from OFS Energy Services, including subsidiaries of the company and other assets. That cost Key Energy $15.8 million shares in its stock and $75.8 million cash, "subject to certain post-closing adjustments."
A six-month lockup period on new Key stock issued by Key Energy began on October 1.
Universal Pressure Pumping, Inc. and Universal Wireline acquired wireline and pressure pumping assets from Key Energy for about $238 million in cash. They were subsidiaries of Key Energy.
Patterson-UTI's Chairman Mark S. Siegel said about the acquisition, "We are pleased to complete this acquisition that significantly expands one of our core businesses. This acquisition was funded with a combination of cash on hand and a draw under our $400 million revolving line of credit."
Key acquired assets from OFS Energy Services, including subsidiaries of the company and other assets. That cost Key Energy $15.8 million shares in its stock and $75.8 million cash, "subject to certain post-closing adjustments."
A six-month lockup period on new Key stock issued by Key Energy began on October 1.
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