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February 5, 2013
09:15 EDTKEGKey Energy sees reporting Q4 results in line with prior guidance
Key Energy disclosed in a regulatory filing that it expects to report consolidated Q4 results in line with prior guidance provided on its Q3 conference call. The company also disclosed in advance of an investor conference presentation that one of its large customers significantly reduced its U.S. well servicing activity late in 2012, and the company expects the full impact of this reduction to be reflected in its 1Q13 results. The company said it expects activity levels in its U.S. segment to increase after 1Q13 and anticipates overall activity for full year 2013 to approximate full year 2012 activity levels. The company said its 2013 capital expenditure plan is currently $210M and is planned to be primarily focused on equipment maintenance and rig fleet upgrades.
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