KLX Energy Services Holdings, Inc. Enters Into New Credit Agreement to Refinance Existing Senior Secured Notes Due 2025
Summary
"I am pleased to announce that we finished the year strong despite typical seasonal headwinds and fourth quarter budget exhaustion driven by customer frac holidays," said Chris Baker, KLX President and Chief Executive Officer. We look forward to discussing the refinancing when we report Q4 2024 results next week," concluded Lehner.The Company was advised on the refinancing transactions by TPH&Co., the energy business of Perella Weinberg Partners, and Vinson & Elkins LLP.KLX will report 2024 fourth quarter and year end financial results prior to the Companys live conference call, which can be accessed via dial-in or webcast, on Friday, March 14, 2025 at 9:30 a.m. Eastern Time (8:30 a.m. Central Time).For those who cannot listen to the live call, a replay will be available through March 28, 2025 and may be accessed by dialing 1-201-612-7415 and using passcode 13751933#. Please submit any questions for management prior to the call via email to KLXE@dennardlascar.com.KLX is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies operating in both conventional and unconventional plays in all of the active major basins throughout the United States. KLXs complementary suite of proprietary products and specialized services is supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair and maintenance capabilities. Known material factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, risks associated with the following: a decline in demand for our services, declining commodity prices, overcapacity and other competitive factors affecting our industry; the cyclical nature and volatility of the oil and gas industry, which impacts the level of exploration, production and development activity and spending patterns by oil and natural gas exploration and production companies; a decline in, or substantial volatility of, crude oil and gas commodity prices, which generally leads to decreased spending by our customers and negatively impacts drilling, completion and production activity; inflation; increases in interest rates; the ongoing conflict in Ukraine and its continuing effects on global trade; the on-going conflict in Israel; supply chain issues; and other risks and uncertainties listed in our filings with the U.S. Securities and Exchange Commission, including our Current Reports on Form 8-K that we file from time to time, Quarterly Reports on Form 10-Q and Annual Report on Form 10-K.