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OFS - KLXE & Quintana in largest OFS merger since downturn began - May 2020



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KLX Energy Services and Quintana Energy Services agreed to a merger for $17.7 million in equity and $6 million in net debt. The transaction creates a company with the biggest large-diameter coiled-tubing fleet in the US and second-largest US wireline fleet. At $23.7 million, it’s the largest OFS corporate deal announced since the downturn began in early March, although CSL Capital Management and Bayou Well Holdings’ recently withdrawn take-private offer for Ranger Energy Services......
 
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