KLXE News & Events

KLX Energy Services Holdings announced it has acquired all of the assets of Wolfpack Rentals, leading provider of surface rental solutions to oil and gas exploration and production operators, midstream, and other industrial end users, for total consideration of $17M. The acquisition is expected to be immediately accretive to KLX on all financial metrics. Wolfpack is a Texas-based, one-stop-shop provider of comprehensive surface rental equipment and services, founded in 2005 and operating across four areas - South Texas, West Texas, East Texas, and the Northeast - from eight facilities covering major U.S. land basins. Wolfpack's diversified platform includes approximately 350 accommodations trailers and command centers, 14 proprietary water filtration systems with exclusive North American oil and gas intellectual property rights, and a full suite of ancillary surface rentals encompassing communications and connectivity, power generation, lighting, surveillance and security, custom structures, and sanitation services. Total consideration for the Wolfpack acquisition consisted of $14M payable at closing and two deferred payments of $1.5M each, due at six months and twelve months following the closing date, subject to customary post-closing adjustments. Each deferred payment may be made in cash or shares of KLX common stock, at KLX's sole discretion. KLX's legal advisor was Vinson & Elkins.

KLX Energy files $250M mixed securities shelf

Reports Q1 revenue $144.7M vs. $154M last year. Chris Baker, KLX President and Chief Executive Officer, stated, "First quarter revenue was $145 million, within our estimated revenue range albeit at the lower end primarily due to winter storm Fern and customer delays in the last two weeks of March that pushed over $5 million of revenue into the second quarter of 2026 across multiple districts."

"Looking forward, we continue to see good traction with our larger, blue-chip operators, who are increasingly demanding certified, higher-specification equipment - an area where KLX is well positioned. We are forecasting second quarter 2026 revenue of $162 to $172 million, with a midpoint of $167 million, 5% higher than the second quarter of 2025, and $22 million higher than the first quarter of 2026. We expect solid contributions from the Northeast/Mid-Con and a seasonal rebound in the Rockies, with Southwest gradually improving off of current levels as Permian activity stabilizes. In short, we expect revenue to increase in all three segments, as well as nearly every product service line, in the second quarter of 2026. The mix of Drilling vs. Completion vs. Production & Intervention services will still lean unfavorable on a historical basis but is trending back to normal. We expect Adjusted EBITDA margin to expand sequentially, driven by higher activity and better overhead absorption," concluded CEO Baker.