KLX Energy Services completed the merger with Quintana Energy Services.

KLX Energy Services, a US onshore provider of mission-critical oilfield services, completed the merger with Quintana Energy Services, a provider of diversified oilfield services to leading onshore oil and natural gas exploration and production companies. QES shareholders received 0.4844 shares of KLXE common stock for each share of QES common stock. KLXE and QES shareholders now own approximately 59% and 41% of the equity of the combined company on a fully diluted basis. “QES will add directional drilling, snubbing and well control services to KLXE’s already broad range of product and service lines. We will be rationalizing two of the largest fleets of coiled tubing and wireline assets, which will dramatically reduce future capital spending requirements and which will facilitate the pull-through of KLXE’s asset-light products and services. As QES has previously announced the idling of its capital-intensive frac business, we intend to repurpose the vast majority of the pressure pumping equipment to support what will become the largest fleet of large diameter coiled tubing assets in North America. Additionally, we will repurpose some of the pressure pumping equipment to support the wireline fleet, which will also be one of the largest in the US, and one of the largest independent providers of directional drilling services," Tom McCaffrey, KLXE President and CEO.