Have you guys looked at the 10Q for KEG??? They are going the wrong way at an alarming rate. True, there are acquisitions in the last quarter ($.44 of the $1.75 loss), but with a debt/equity ratio of well over 7 (seven), they appear to be severely overextended. They NEED to sell the Odessa subsidiary. I suspect they will report a VERY bad quarter.
The Company's total revenues for the quarter ended March 31, 1999 decreased by $15,801,000 or 13%, to $104,923,000
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Oilfield service revenues for the quarter ended March 31, 1999 decreased by $7,679,000 or 7%, to $96,335,000
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Drilling revenues for the quarter ended March 31, 1999 decreased by $6,565,000
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General and administrative expenses for the quarter ended March 31, 1999 increased by $4,148,000 or 35%, to $15,833,000
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Interest expense for the quarter ended March 31, 1999 increased by $15,969,000, or 315%, to $21,032,000
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Bad debt expense for the quarter ended March 31, 1999 increased by $4,775,000 to $4,865,000
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Debt issuance costs of $6,268,000 for the quarter ended March 31, 1999 compare with none in the quarter ended March 31, 1998
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Net cash provided by financing activities for the quarter ended March 31, 1999 decreased by $10,748,000 or 44%, to $13,884,000 |
