Quintana Energy Services Announces New Reportable Business Segment Structure and Associated Cost Savings
QUINTANA ENERGY SERVICES INC (QES)
Last quintana energy services inc earnings: 3/4 06:30 pm
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US:NYSE Investor Relations:
ir.quintanaenergyservices.com
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)-- Quintana Energy Services Inc. (NYSE: QES)(“QES” or the “Company”) today announced a change to the structure of its reportable business segments, effective for the quarter ending March 31, 2020. This change, reducing the number of reportable segments, was made to appropriately reflect recent changes in how the Company manages its business, reviews and assesses operating performance and allocates resources. QES estimates the associated recurring annual cost savings to be approximately $3.0 to $5.0 million once personnel, systems and facility migrations are fully implemented. Effective for the first quarter of 2020, the Company will begin reporting results under two reportable segments: Drilling and Completions. Previously, results for the Pressure Pumping segment, Pressure Control segment and Wireline segment were disclosed as three separate segments and will now be combined into
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