KLX Energy Services (KLXE) 10-Q 8 Sep 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jul. 31, 2020	Aug. 28, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2020
Document Transition Report	false
Entity File Number	001-38609
Entity Registrant Name	KLX Energy Services Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4904146
Entity Address, Address Line One	1415 Louisiana Street
Entity Address, Address Line Two	Suite 2900
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	832
Local Phone Number	518-4094
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	KLXE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,401,500
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001738827
Amendment Flag	false
Former Address
Document Information [Line Items]
Entity Address, Address Line One	1300 Corporate Center Way
Entity Address, City or Town	Wellington
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33414
City Area Code	561
Local Phone Number	383-5100

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Jul. 31, 2020	Jan. 31, 2020
Current assets:
Cash and cash equivalents		$ 98.5	$ 123.5
Accounts receivable–trade, net of allowance of $5.1 and $12.9		40.5	79.2
Inventories, net		26.7	12
Other current assets		13.8	13.8
Total current assets		179.5	228.5
Property and equipment, net		234.1	306.8
Goodwill		0	28.3
Intangible assets, net		2.6	45.8
Other assets		8.9	14
Total assets		425.1	623.4
Current liabilities:
Accounts payable		33.1	31.4
Accrued interest		7.2	7.2
Accrued liabilities		33.8	26.2
Total current liabilities		74.1	64.8
Long-term debt		243.4	243
Deferred income taxes		0.1	0
Other non-current liabilities		7.8	3.4
Commitments, contingencies and off-balance sheet arrangements
Stockholders’ equity:
Common stock, $0.01 par value; 110.0 authorized; 8.5 and 5.0 issued	[1]	0.1	0.1
Additional paid-in capital		468	416.6
Treasury stock, at cost, 0.1 shares and 0.1 shares	[1]	(4)	(3.6)
Accumulated deficit		(364.4)	(100.9)
Total stockholders’ equity		99.7	312.2
Total liabilities and stockholders' equity		$ 425.1	$ 623.4
[1]	(1) Common stock and treasury stock were retroactively adjusted for the Company's 1-for-5 Reverse Stock Split effective July 28, 2020. See Note 1.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS - Parenthetical shares in Millions, $ in Millions	6 Months Ended
	Jul. 31, 2020USD ($)$ / sharesshares	Jan. 31, 2020USD ($)$ / sharesshares
Statement of Financial Position [Abstract]
Accounts receivable - trade, allowance for doubtful accounts | $	$ 5.1	$ 12.9
Common stock, par value | $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized	110	110
Common stock, shares issued	8.5	5
Treasury stock	0.1	0.1
Reverse stock split ratio	0.2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS $ in Millions		3 Months Ended		6 Months Ended
		Jul. 31, 2020USD ($)$ / shares	Jul. 31, 2019USD ($)$ / shares	Jul. 31, 2020USD ($)$ / shares	Jul. 31, 2019USD ($)$ / shares
Income Statement [Abstract]
Revenues		$ 36.2	$ 164.9	$ 119.2	$ 310.7
Costs and expenses:
Cost of sales		48.1	129.4	140.3	248.3
Selling, general and administrative		41.8	23.7	59.2	47.5
Research and development costs		0.2	0.8	0.5	1.5
Goodwill and long-lived asset impairment charge		0	0	208.7	0
Bargain purchase gain		41.1	0	41.1	0
Operating (loss) earnings		(12.8)	11	(248.4)	13.4
Non-operating expense:
Interest expense, net		7.6	7.4	15	14.5
(Loss) earnings before income tax		(20.4)	3.6	(263.4)	(1.1)
Income tax expense		0	0.1	0.1	0.4
Net (loss) earnings		$ (20.4)	$ 3.5	$ (263.5)	$ (1.5)
Net (loss) earnings per share - basic | $ / shares	[1]	$ (4.12)	$ 0.78	$ (55)	$ (0.34)
Net (loss) earnings per share - diluted | $ / shares	[1]	$ (4.12)	$ 0.78	$ (55)	$ (0.34)
Reverse stock split ratio				0.2
[1]	(1) Basic and diluted net (loss) earnings per share were retroactively adjusted for the Company’s 1-for-5 Reverse Stock Split effective July 28, 2020. See Note 1.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit
Balance (shares) at Jan. 31, 2019		4.5
Balance at Jan. 31, 2019	$ 340.7	$ 0	$ 345.2	$ 0	$ (4.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	4.4		4.4
Red Bone acquisition price shares reserved	36.4		36.4
Issuance of shares as a component of acquisition price (in shares)		0.1
Issuance of shares as a component of acquisition price	12.1		12.1
Escrowed shares related to Tecton acquisition	(1.4)			(1.4)
Net earnings (loss)	(5)				(5)
Balance at Apr. 30, 2019	387.2	$ 0	398.1	(1.4)	(9.5)
Balance (shares) at Apr. 30, 2019		4.6
Balance (shares) at Jan. 31, 2019		4.5
Balance at Jan. 31, 2019	340.7	$ 0	345.2	0	(4.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(1.5)
Balance at Jul. 31, 2019	396.1	$ 0	403.5	(1.4)	(6)
Balance (shares) at Jul. 31, 2019		4.7
Balance (shares) at Apr. 30, 2019		4.6
Balance at Apr. 30, 2019	387.2	$ 0	398.1	(1.4)	(9.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	4.5		4.5
Issuance of shares as a component of acquisition price (in shares)		0.1
Issuance of shares as a component of acquisition price	0
Sale of stock under employee stock purchase plan	0.9		0.9
Net earnings (loss)	3.5				3.5
Balance at Jul. 31, 2019	396.1	$ 0	403.5	(1.4)	(6)
Balance (shares) at Jul. 31, 2019		4.7
Balance (shares) at Jan. 31, 2020		5
Balance at Jan. 31, 2020	312.2	$ 0.1	416.6	(3.6)	(100.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	(0.7)		(0.7)
Purchase of treasury stock	(0.3)			(0.3)
Red Bone acquisition price shares reserved (in shares)		0.1
Red Bone acquisition price shares reserved	0
Net earnings (loss)	(243.1)				(243.1)
Balance at Apr. 30, 2020	68.1	$ 0.1	415.9	(3.9)	(344)
Balance (shares) at Apr. 30, 2020		5.1
Balance (shares) at Jan. 31, 2020		5
Balance at Jan. 31, 2020	312.2	$ 0.1	416.6	(3.6)	(100.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(263.5)
Balance at Jul. 31, 2020	99.7	$ 0.1	468	(4)	(364.4)
Balance (shares) at Jul. 31, 2020		8.5
Balance (shares) at Apr. 30, 2020		5.1
Balance at Apr. 30, 2020	68.1	$ 0.1	415.9	(3.9)	(344)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	17.3		17.4	(0.1)
Issuance of shares as a component of acquisition price (in shares)		3.4
Issuance of shares as a component of acquisition price	34.7	$ 0	34.7
Net earnings (loss)	(20.4)				(20.4)
Balance at Jul. 31, 2020	$ 99.7	$ 0.1	$ 468	$ (4)	$ (364.4)
Balance (shares) at Jul. 31, 2020		8.5

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019
Cash flows from operating activities:
Net loss	$ (263.5)	$ (1.5)
Adjustments to reconcile net loss to net cash flows (used in) provided by operating activities
Depreciation and amortization	29.1	31.3
Goodwill and long-lived asset impairment charge	208.7	0
Non-cash compensation	16.7	9.1
Amortization of deferred financing fees	0.6	0.5
Provision for inventory reserve	1.4	0.7
Change in allowance for doubtful accounts	(7.8)	1.8
Loss on disposal of property, equipment and other	0.7	1.4
Bargain purchase gain	(41.1)	0
Changes in operating assets and liabilities:
Accounts receivable	58.8	(26.5)
Inventories	(2.2)	1.4
Other current and non-current assets	6	0.6
Accounts payable	(22.2)	(0.2)
Other current and non-current liabilities	(0.7)	(6.7)
Net cash flows (used in) provided by operating activities	(15.5)	11.9
Cash flows from investing activities:
Purchases of property and equipment	(8.5)	(56.8)
Proceeds from sale of property and equipment	0.4	0.3
Acquisitions, net of cash acquired	(1)	(27.6)
Net cash flows used in investing activities	(9.1)	(84.1)
Cash flows from financing activities:
Purchase of treasury stock	(0.4)	0
Cash proceeds from stock issuance	0	0.8
Net cash flows (used in) provided by financing activities	(0.4)	0.8
Net decrease in cash and cash equivalents	(25)	(71.4)
Cash and cash equivalents, beginning of period	123.5	163.8
Cash and cash equivalents, end of period	98.5	92.4
Cash paid during period for:
Income taxes paid, net of refunds	0.3	1
Interest	14.6	14.7
Supplemental schedule of non-cash activities:
Issuance of common stock and stock based payments for QES acquisition	34.7	0
Change in deposits on capital expenditures	(5.4)	(4.5)
Accrued capital expenditures	$ 1.2	$ 8.4

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jul. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business KLX Energy Services Holdings, Inc. (the “Company”, “KLXE” or “KLX Energy Services”) is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production (“E&P”) companies operating in both conventional and unconventional plays in all of the active major basins throughout the United States. The Company delivers mission critical oilfield services focused on drilling, completion, production and intervention activities for the most technically demanding wells in over 60 service and support facilities located in the United States. The Company offers a complementary suite of proprietary products and specialized services that is supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair and maintenance capabilities. KLXE’s primary services include directional drilling, pressure control, wireline, coiled-tubing, rig-assisted snubbing, fluid pumping, flowback, testing, fishing and well control services. KLXE’s primary rentals and products include hydraulic fracturing stacks, blow out preventers, downhole tools, dissolvable plugs and accommodation units. On July 24, 2020, the KLXE stockholders approved an amendment to the amended and restated certificate of incorporation of KLXE (the “Reverse Stock Split Amendment”) to effect a reverse stock split of KLXE common stock at a ratio within a range of 1-for-5 and 1-for-10 (the “Reverse Stock Split”), as determined by KLXE’s board of directors (the “Board”). The Board subsequently resolved to implement the Reverse Stock Split at a ratio of 1-for-5. On July 28, 2020, KLX Energy Services, Krypton Intermediate, LLC, an indirect wholly owned subsidiary of KLXE, Krypton Merger Sub, Inc., an indirect wholly owned subsidiary of KLXE (“Merger Sub”), and Quintana Energy Services Inc. (“QES”), completed the previously announced acquisition of QES, by means of a merger of Merger Sub with and into QES, with QES surviving the merger as a subsidiary of KLXE (the “Merger”). On July 28, 2020, immediately prior to the consummation of the Merger, the Reverse Stock Split Amendment became effective and thereby effectuated the 1-for-5 Reverse Stock Split of the Company’s issued and outstanding common stock. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments which, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown are of a normal recurring nature and have been reflected in the condensed consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year 2020 or for any future period. The information included in these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020 . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and related disclosures. Actual results could differ from those estimates.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (“Topic 848”): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting and, particularly, the risk of cessation of the London Interbank Offered Rate (“LIBOR”). The amendments in this ASU are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments in this ASU are effective for all entities, if elected, through December 31, 2022. While the exact impact of this standard is not known, the guidance is not expected to have a material impact on the Company’s condensed consolidated financial statements. In December 2019, FASB issued ASU 2019-12, Income Taxes (“Topic 740”): Simplifying the Accounting for Income Taxes. This ASU is intended to simplify aspects of income tax approach for intraperiod tax allocations when there is a loss from continuing operations and income or a gain from other items, and to provide a general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. Topic 740 also provides guidance to simplify how an entity recognizes a franchise tax (or similar tax) that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, and evaluations of when step ups in the tax basis of goodwill should be considered part of a business combination. Companies should also reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The guidance is effective for the Company for the fiscal year beginning February 1, 2022. While the exact impact of this standard is not known, the guidance is not expected to have a material impact on the Company’s condensed consolidated financial statements. In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows (“Topic 230”): Classification of Certain Cash Receipts and Cash Payments, which addresses how certain cash receipts and payments are presented and classified in the statement of cash flows. These cash flow issues include debt prepayment or extinguishment costs, settlement of zero-coupon debt, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, with early adoption permitted, and should be applied retrospectively. The adoption of ASU 2016-15 did not have a material impact on the Company’s condensed consolidated financial statements as the Company’s condensed consolidated statements of cash flows are not affected by the eight issues listed above. In June 2016, FASB issued ASU 2016-13, Financial Instruments - Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments. This ASU is intended to update the measurement of credit losses on financial instruments. This update improves financial reporting by requiring earlier recognition of credit losses on financing receivables and other financial assets in scope by using the Current Expected Credit Losses (“CECL”) model. This guidance is effective for interim and annual periods beginning after December 15, 2022, with early adoption permitted. The new accounting standard introduces the CECL methodology for estimating allowances for credit losses. The Company is an oilfield service company and as of July 31, 2020 had a third-party accounts receivable balance, net of allowance, of $40.5 . Topic 326 is not expected to have a material impact on the Company's condensed consolidated balance sheets or its condensed consolidated statements of operations. In February 2016, FASB issued ASU 2016-02, Leases (“Topic 842”), which supersedes ASC Topic 840, Leases. Topic 842 requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. The update also expands the required quantitative and qualitative disclosures surrounding leases. Topic 842 will be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. In November 2019, FASB deferred the effective date for implementation of Topic 842 by one year and, in June 2020, FASB deferred the effective date by an additional year. The guidance under Topic 842 is effective for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022. Earlier adoption is permitted. To assess the impact of this guidance, the Company has established a cross functional implementation project team and is currently in the process of accumulating and evaluating all the necessary information required to properly account for its lease portfolio under the new standard. The Company is in the process of developing its new accounting policies and determining the potential aggregate impact this guidance is likely to have on its financial statements as of its adoption date.

Business Combinations

Business Combinations	6 Months Ended
	Jul. 31, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 3 - Business Combinations QES Merger On July 28, 2020, the Company completed the Merger with QES, a diversified provider of oilfield services to onshore oil and natural gas E&P companies operating in the United States. The Merger purchase price was approximately $44.4 with cash paid to settle QES debt, comprised of 3.4 shares of the Company’s common stock. Based on the Company’s preliminary purchase price allocation, the purchase price was less than the fair value of the identifiable assets acquired, which resulted in a $41.1 bargain purchase gain being recorded on the condensed consolidated statements of operations for the three and six months ended July 31, 2020. In connection with the closing of the Merger, $9.7 in outstanding borrowings and associated fees and expenses of QES's five-year asset-based revolving credit agreement (the “QES ABL Facility”) were paid off. In addition, the Company assumed certain QES compensation agreements, including restricted stock units ("RSU"), with an estimated fair value of $2.0 . Based on the service period related to the period prior to the acquisition date, $0.4 was allocated to the purchase price, and $1.6 relating to post-acquisition services will be recorded as operating expenses over the remaining requisite service periods. RSUs were valued based on the July 28, 2020 grant date. The Merger was accounted for as a purchase under FASB ASC 805, Business Combinations (“ASC 805”). The results of operations for the acquisition are included in the accompanying condensed consolidated statements of operations from the respective date of acquisition. The fair values assigned to certain assets acquired and liabilities assumed in relation to the Company's acquisition have been prepared on a preliminary basis with information currently available and are subject to change. The Company expects to finalize its analysis during fiscal 2020. The following table summarizes the fair values of assets acquired and liabilities assumed in the Merger in accordance with ASC 805: QES Cash $ 8.7 Accounts receivable-trade 12.2 Inventories 14.0 Other current and non-current assets 6.4 Property and equipment 84.0 Accounts payable (27.2) Other current and non-current liabilities (12.6) Bargain purchase (41.1) Total purchase price (1) $ 44.4 (1) The total consideration transferred of $44.4 includes a cash transfer of $9.7 to pay off a QES ABL Facility. The amount of QES revenues and operating loss included in the Company's results was approximately $0.7 and $2.2 for both the three and six months ended July 31, 2020 , respectively. Unaudited Supplemental Pro Forma Information The unaudited supplemental pro forma financial information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by combining the companies for the periods presented, or of the results that may be achieved by the combined companies in the future. Further, results may vary significantly from the results reflected in the following unaudited supplemental pro forma financial information because of future events and transactions, as well as other factors. The unaudited supplemental pro forma financial information does not include adjustments to reflect the impact of other cost savings or synergies that may result from the Merger. On a pro forma basis to give effect to the Merger, as if it occurred on February 1, 2019, revenues, net loss and loss per diluted share for the three and six months ended July 31, 2020 and 2019 would have been as follows: Unaudited Pro Forma Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Revenues $ 54.5 $ 292.5 $ 212.7 $ 572.9 Net loss 54.8 4.4 317.8 18.9 Loss per diluted share 6.52 0.56 38.76 2.42 2019 Acquisitions On March 15, 2019, the Company acquired Tecton Energy Services (“Tecton”), a provider of flowback and production testing services, operating primarily in the Rocky Mountains. On March 19, 2019, the Company acquired Red Bone Services LLC (“Red Bone”), a provider of fishing and thru-tubing services in the Mid-Continent. The aggregate acquisition price of the acquisitions was approximately $74.6 , comprised of approximately $47.0 in shares of the Company’s common stock issuable over time at a fixed price and approximately $27.6 in cash to the sellers and for the retirement of debt. Based on the Company’s final purchase price allocation, the excess of the purchase price over the fair value of the identifiable assets acquired approximated $51.2 , of which $19.4 was allocated to identifiable intangible assets consisting of customer contracts and relationships and covenants not to compete, and $31.8 was allocated to goodwill. The useful life assigned to the customer contracts and relationships is 10 years , and the covenants not to compete are being amortized over their contractual periods of 1.5 - 3 years for Tecton and Red Bone. The Tecton and Red Bone acquisitions were accounted for as purchases under ASC 805. The results of operations for the acquisitions are included in the accompanying condensed consolidated statements of operations from the respective dates of acquisition. The following table summarizes the fair values of assets acquired and liabilities assumed in the Tecton and Red Bone acquisitions in accordance with ASC 805: Tecton Red Bone Accounts receivable-trade $ 2.1 $ 7.2 Inventories — 2.7 Other current and non-current assets 0.2 — Property and equipment 2.8 23.6 Goodwill 15.0 16.8 Identified intangibles 6.2 13.2 Accounts payable and accrued liabilities (2.1) (4.2) Other current and non-current liabilities (1.6) (7.3) Total consideration paid $ 22.6 $ 52.0 The majority of goodwill and intangible assets for Tecton and Red Bone are not expected to be deductible for tax purposes. The Company has substantially integrated Red Bone and, as a result, it is not practicable to report stand-alone revenues and operating earnings of the acquired business since the acquisition date. The amount of Tecton revenues included in the Company’s results was approximately $6.0 and $9.1 for the three and six months ended July 31, 2019 , respectively. It is not practicable to report stand-alone operating earnings of Tecton since the acquisition date. On a pro forma basis to give effect to the Tecton and Red Bone acquisitions, as if they occurred on February 1, 2019, revenues, net earnings (loss) and earnings (loss) per diluted share for the three and six months ended July 31, 2019 would have been as follows: Unaudited Pro Forma Three Months Ended Six Months Ended July 31, 2019 July 31, 2019 Revenues $ 164.9 $ 318.4 Net earnings (loss) 3.5 (1.0) Earnings (loss) per diluted share 0.16 (0.05)

Inventories

Inventories	6 Months Ended
	Jul. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: July 31, 2020 January 31, 2020 Supplies $ 14.3 $ 5.6 Plugs 6.4 6.1 Consumables 6.2 1.0 Work-in-progress — 0.2 Other 2.3 0.6 Total inventories $ 29.2 $ 13.5 Inventories, which consist of finished goods, primarily include packers, plugs and other consumables used to perform services for customers. The Company values inventories at the lower of cost or net realizable value. Inventory reserves were approximately $2.5 and $1.5 as of July 31, 2020 and January 31, 2020, respectively.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment consisted of the following: Useful Life (Years) July 31, 2020 January 31, 2020 Land, buildings and improvements 1 — 40 $ 44.0 $ 38.2 Machinery 1 — 20 229.4 257.9 Furniture and equipment 1 — 15 178.5 216.7 Total property and equipment 451.9 512.8 Less accumulated depreciation 217.8 206.0 Property and equipment, net $ 234.1 $ 306.8 Depreciation expense was $10.1 and $ 15.4 for the three months ended July 31, 2020 and 2019 , respectively and $ 25.3 and $ 29.4 for the six months ended July 31, 2020 and 2019 , respectively. Assets Held for Sale As of July 31, 2020 , the Company's condensed consolidated balance sheet includes assets classified as held for sale of $3.5 . The assets held for sale are reported within other current assets on the condensed consolidated balance sheet and represent the value of two operational facilities. In light of the current market environment, the Company has consolidated operations within certain geographies rendering these locations unnecessary to support the efficient operations of the Company. These assets are being actively marketed for sale as of July 31, 2020 and are recorded at the lower of their carrying value or fair value less costs to sell.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	NOTE 6 - Goodwill and Intangible Assets, Net The following sets forth the intangible assets by major asset class, all of which were acquired through business purchase transactions: July 31, 2020 January 31, 2020 Useful Life (Years) Original Cost Accumulated Amortization Net Book Value Original Cost Accumulated Amortization Net Book Value Customer contracts and relationships (1) 10 $ 5.7 $ 3.1 $ 2.6 $ 43.0 $ 2.4 $ 40.6 Covenants not to compete 1.5 - 3 0.5 0.5 — 4.7 1.9 2.8 Developed technologies 15 — — — 3.3 0.9 2.4 Total intangible assets $ 6.2 $ 3.6 $ 2.6 $ 51.0 $ 5.2 $ 45.8 (1) The customer contracts and relationships intangible asset's useful life was reduced from 20 to 10 years as of July 31, 2020. Amortization expense associated with intangible assets was $2.8 and $1.1 for the three months ended July 31, 2020 and 2019 , respectively, and $3.8 and $1.9 for the six months ended July 31, 2020 and 2019 , respectively. Due to the accelerated amortization of intangible assets, the Company does not expect to recognize future material amortization expense related to intangible assets. During the three months ended July 31, 2020, accelerated amortization of $2.7 was recognized related to the Company's customer contracts and relationships long-lived intangible. Actual future amortization expense may be different due to future acquisitions, impairments, changes in amortization periods or other factors. Goodwill and indefinite life intangible assets are tested for impairment annually or on an interim basis if events or circumstances indicate that the fair value of the asset has decreased below its carrying value. The oilfield service industry experienced an abrupt deterioration in demand during the second half of 2019, which has continued into 2020. During the first quarter of 2020, the novel coronavirus ("COVID-19") pandemic emerged and applied significant downward pressure on the global economy and oil demand and prices, leading North American operators to announce significant cuts to planned 2020 capital expenditures. The combination of the COVID-19 pandemic and supply concerns has driven a steep drop in oil prices, leading to decreases in demand for the Company's services and lower current and expected revenues for the Company. Based on the impairment indicators above, the Company performed a long-lived asset impairment analysis during the three months ended April 30, 2020, and concluded that the carrying amount of the long-lived assets exceeded the relative fair values of two of the reporting units asset groups. As a result, the Company recorded a $180.4 long-lived asset impairment charge, $39.2 related to identified intangible assets and $141.2 related to property and equipment, which is included in the condensed consolidated statements of operations for the six months ended July 31, 2020 . This charge reflects $91.3 and $89.1 of the long-lived assets attributable to the Southwest and Northeast/Mid-Con segments, respectively. Determining fair value requires the use of estimates and assumptions. Such estimates and assumptions include revenue growth rates, operating profit margins, weighted average cost of capital, terminal growth rates, future market share and future market conditions, among others. The Company's cash flow projections were a significant input into the April 30, 2020 fair values. See Note 9 for additional information regarding the fair value determination. If the Company continues to be unable to achieve projected results or long-term projections are adjusted downward, it could negatively impact future valuations of the Company’s long-lived assets. The valuation of the Company and its reportable segments’ goodwill impairment test was estimated using the guideline public company analysis and the discounted cash flow analysis, which were equally weighted in the fair value analysis. See Note 9 for additional information regarding the fair value determination. The results of the goodwill impairment test as of April 30, 2020 indicated that goodwill was impaired because the carrying value of the Rocky Mountains reporting unit exceeded its relative fair value. Accordingly, the Company recorded a $28.3 goodwill impairment charge, which is included in the condensed consolidated statements of operations for the six months ended July 31, 2020 . This charge reflects the full value of the goodwill attributable to the Rocky Mountains segment, leaving the Company with no goodwill as of July 31, 2020. No additional goodwill impairment tests were performed in the second quarter of 2020 because the full value of goodwill was impaired during the first quarter. During the second quarter 2020, review of the customer relationship intangible assets, an analysis of the future contributions to revenue from these customers resulted in forecast declines of approximately 50% . As a result of our review, we recognized a charge of $2.7 reflecting accelerated amortization to reduce the carrying value of our customer relationships intangible was recorded. The accelerated amortization charge is included in the condensed consolidated statements of operations for the three and six months ended July 31, 2020 .

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jul. 31, 2020
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following: July 31, 2020 January 31, 2020 Accrued salaries, vacation and related benefits $ 18.8 $ 13.9 Accrued property taxes 4.5 2.3 Accrued incentive compensation 0.8 2.3 Other accrued liabilities 9.7 7.7 Total accrued liabilities $ 33.8 $ 26.2

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jul. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt As of July 31, 2020 , long-term debt consisted of $250.0 principal amount of 11.5% senior secured notes due 2025 (the “Notes”) offered pursuant to Rule 144A under the Securities Act of 1933 (as amended, the "Securities Act") and to certain non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. On a net basis, after taking into consideration the debt issuance costs for the Notes, total debt as of July 31, 2020 was $243.4 . As of July 31, 2020 , the Company also had a $100.0 asset-based revolving credit facility pursuant to a senior secured credit agreement dated August 10, 2018 (the “ABL Facility”). The ABL Facility became effective on September 14, 2018 and matures in September 2023. On October 22, 2018, the ABL Facility was amended primarily to permit the Company to issue the Notes and acquire Motley Services, LLC (“Motley”) and the definition of the required ratio (as defined in the ABL Facility) was also amended as a result of the Notes issuance. Borrowings under the ABL Facility bear interest at a rate equal to LIBOR plus the applicable margin (as defined in the ABL Facility). There were no outstanding amounts under the ABL Facility as of July 31, 2020 . The ABL Facility is tied to a borrowing base formula and has no maintenance financial covenants. The ABL Facility is secured by, among other things, a first priority lien on the Company’s accounts receivable and inventory and contains customary conditions precedent to borrowing and affirmative and negative covenants, all of which were met as of July 31, 2020 . Availability under the ABL Facility was $14.9 and $60.0 as of July 31, 2020 and January 31, 2020 , respectively. The decrease in availability during the during the six months ended July 31, 2020 is primarily related to lower levels of activity and correspondingly lower levels of accounts receivable at July 31, 2020 . Letters of credit outstanding under the ABL Facility equaled an aggregate of $6.3 at July 31, 2020 .

Fair Value Information

Fair Value Information	6 Months Ended
	Jul. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Information	Fair Value Information All financial instruments are carried at amounts that approximate estimated fair value. The fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. Assets measured at fair value are categorized based upon the lowest level of significant input to the valuations. Level 1 – quoted prices in active markets for identical assets and liabilities. Level 2 – quoted prices for identical assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical assets and liabilities. Level 3 – unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. The carrying amounts of cash and cash equivalents, accounts receivable-trade and accounts payable represent their respective fair values due to their short-term nature. There was no debt outstanding under the ABL Facility as of July 31, 2020 . The fair value of the Company’s Notes, based on market prices for publicly traded debt, which the Company classifies as Level 2 inputs, was $125.0 and $202.5 as of July 31, 2020 and January 31, 2020 , respectively. During the six months ended July 31, 2020, goodwill and long-lived assets, including certain property and equipment and purchased intangibles subject to amortization, were impaired as a result of a first quarter 2020 interim goodwill and long-lived asset impairment tests. The goodwill Level 3 fair value was determined using the average of the guideline public company analysis and the discounted cash flow analysis, both of which were unobservable. The long-lived asset Level 3 fair value was determined using the discounted cash flow analysis using the market and income approaches, both of which were unobservable. Fair value is measured as of the impairment date. The following table summarizes the related post-impairment fair values of the corresponding assets. July 31, 2020 January 31, 2020 Fair Value (1) Carrying Value Property and equipment, net $ 52.8 $ 194.0 Goodwill — 28.3 Intangible assets — 39.2 $ 52.8 $ 261.5 (1) See Note 6 for a discussion of the changes in goodwill and long-lived asset values due to impairment charges recorded during the six months ended July 31, 2020 .

Commitments, Contingencies and

Commitments, Contingencies and Off-Balance Sheet Arrangements	6 Months Ended
	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Off-Balance-Sheet Arrangements	Commitments, Contingencies and Off-Balance-Sheet Arrangements Environmental Regulations & Liabilities The Company is subject to various federal, state and local environmental laws and regulations that establish standards and requirements for the protection of the environment. The Company continues to monitor the status of these laws and regulations. However, the Company cannot predict the future impact of such laws and regulations, as well as standards and requirements, on its business, which are subject to change and can have retroactive effectiveness. Currently, the Company has not been fined, cited or notified of any environmental violations or liabilities that would have a material adverse effect on its condensed consolidated financial statement position, results of operations, liquidity or capital resources. However, management does recognize that by the very nature of its business, material costs could be incurred in the future to maintain compliance. The amount of such future expenditures is not determinable due to several factors, including the unknown magnitude of possible regulation or liabilities, the unknown timing and extent of the corrective actions which may be required, the determination of the Company’s liability in proportion to other responsible parties and the extent to which such expenditures are recoverable from insurance or indemnification. Litigation During the year ended January 31, 2020 , the Company discovered a credit card theft of approximately $2.6 (which is included in cost of sales for the year ended January 31, 2020) and promptly reported the theft to its insurers and law enforcement. The Company has also filed suit against several third parties to recover damages related to the theft. While the Company cannot reasonably determine the outcome of this litigation at this time, it believes its insurance coverage will be available to recover some or all of this loss after the appropriate legal proceedings have concluded. The Company implemented additional expenditure controls to reduce the likelihood of similar thefts in the future, such as daily limits on all fuel cards and additional credit card activity reviews by management. On June 9, 2020, a putative class action was filed by a purported KLXE stockholder in the United States District Court for the District of Delaware, captioned Eric Sabatini v. KLX Energy Services Holdings, Inc., et. al. (the “Sabatini Complaint”). On June 18, 2020, an individual action was filed by a purported KLXE stockholder in the United States District Court for the Southern District of New York, captioned Joey Zurchin v. KLX Energy Services Holdings, Inc., et. al. (the “Zurchin Complaint”). On June 24, 2020 an individual action was filed by a purported KLXE stockholder in the United States District Court for the District of Colorado, captioned David Cajiuat v. KLX Energy Services Holdings, Inc., et. al. (the “Cajiuat Complaint” and, together with the Sabatini Complaint and the Zurchin Complaint, the “KLXE Complaints”). The plaintiff in the Sabatini Complaint purported to bring the litigation as a securities class action on behalf of the public stockholders of KLXE. The Sabatini Complaint named as defendants KLXE, the KLXE Board, certain of KLXE’s subsidiaries and QES; the Zurchin complaint named as defendants KLXE and the KLXE Board; and the Cajiuat complaint named as defendants KLXE and the KLXE Board. The KLXE Complaints alleged violations of Section 14(a) of the Exchange Act, and Rule 14a-9 promulgated thereunder, as well as, in the case of the individual defendants, QES and KLXE’s subsidiaries named as defendants, the control person provisions of the Exchange Act. The Zurchin Complaint also alleged, in the case of the individual defendants, breach of the duty of candor/disclosure under state law. The KLXE Complaints alleged that the Company's registration statement on Form S-4, originally filed on June 2, 2020 (the "Registration Statement"), omitted material information with respect to the Merger, which rendered the Registration Statement false and misleading. In particular, the KLXE Complaints alleged, among other things, that the Registration Statement omitted details with respect to information regarding KLXE’s and QES’s financial projections, the analyses performed by Goldman Sachs Group Inc. ("Goldman Sachs"), in the case of the Sabatini Complaint, any prior work performed by Goldman Sachs for QES and, in the case of the Cajiuat Complaint, the sales process leading up to the Merger. The KLXE Complaints sought to enjoin the defendants from proceeding with the Merger, awards of the plaintiffs’ costs of the action, including attorneys’ and experts’ fees, and such other and further relief as the court may have deemed just and proper. In addition, each of the Sabatini Complaint and the Cajiuat Complaint sought rescission of the Merger or rescissory damages if the Merger was consummated and a declaration that the defendants violated Sections 14(a) and 20(a) of the Exchange Act and Rule 14a-9, and the Sabatini Complaint sought an order directing the defendants to disseminate a registration statement that is free from material misstatement and omissions. The KLXE Complaints were subsequently voluntarily dismissed by the claimants. On June 12, 2020, an action was filed by a purported QES stockholder in the United States District Court for the Southern District of New York, captioned Charles Matey v. Quintana Energy Services Inc., et. al. (the “Matey Complaint”). On June 19, 2020 an action was filed by a purported QES stockholder in the United States District Court for the Southern District of New York captioned Matthew Wilking v. Quintana Energy Services Inc., et. al. (the “Wilking Complaint” and, together with the Matey Complaint, the “QES Complaints”).The QES Complaints named as defendants QES and the QES Board. The QES Complaints alleged violations of Section 14(a) of the Exchange Act and Rule 14a-9 promulgated thereunder, as well as, in the case of the individual defendants, the control person provisions of the Exchange Act. The QES Complaints alleged that the Registration Statement misrepresented or omitted material information with respect to the Merger, which rendered the Registration Statement false and misleading. In particular, the QES Complaints alleged, among other things, that the Registration Statement: (a) contained material misrepresentations and omissions regarding QES’s financial projections, Tudor, Pickering, Holt & Co.’s opinion, and, in the case of the Matey Complaint, Goldman Sachs’ opinion; and (b) failed to disclose, in the case of the Matey Complaint, the consideration that QES provided to Company A for entering into the exclusivity agreement executed on or about March 3, 2020 and, in the case of the Wilking Complaint, whether QES entered into a confidentiality agreement with Company A, and whether any such confidentiality agreement included a standstill provision. The QES Complaints sought to enjoin the defendants from proceeding with the Merger, an order directing the defendants to disseminate an amendment to the Registration Statement that is free from material misstatement and omissions, in the case of the Matey Complaint, unspecified damages, an award of the plaintiff’s costs of the action, including attorneys’ and experts’ fees, and such other and further relief as the court may deem just and proper. The QES Complaints were subsequently voluntarily dismissed by claimants. On September 4, 2020, KLXE and QES signed a memorandum of understanding with all plaintiffs and agreed on the settlement of the KLXE Complaints and QES Complaints as relates to the respective mootness fee claims for an immaterial amount. The Company is a defendant in various legal actions arising in the normal course of business, the outcomes of which, in the opinion of management, neither individually nor in the aggregate are likely to result in a material adverse effect on the Company’s condensed consolidated financial statements. Indemnities, Commitments and Guarantees During its ordinary course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These indemnities include indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, as well as indemnities to other parties to certain acquisition agreements. The duration of these indemnities, commitments and guarantees varies, and, in certain cases, is indefinite. Many of these indemnities, commitments and guarantees provide for limitations on the maximum potential future payments the Company could be obligated to make. However, the Company is unable to estimate the maximum amount of liability related to its indemnities, commitments and guarantees because such liabilities are contingent upon the occurrence of events that are not reasonably determinable. Management believes that any liability for these indemnities, commitments and guarantees would not be material to the accompanying condensed consolidated financial statements. Accordingly, no significant amounts have been accrued for indemnities, commitments and guarantees.

Accounting for Stock-Based Comp

Accounting for Stock-Based Compensation	6 Months Ended
	Jul. 31, 2020
Share-based Payment Arrangement [Abstract]
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation The Company has a Long-Term Incentive Plan (“LTIP”) under which the compensation committee of the Board (the "Compensation Committee") has the authority to grant stock options, stock appreciation rights, restricted stock, restricted stock units or other forms of equity-based or equity-related awards. Compensation cost for the LTIP grants is generally recorded on a straight-line basis over the vesting term of the shares based on the grant date value using the closing trading price. Compensation cost recognized during the three and six months ended July 31, 2020 and 2019 related to grants of restricted stock granted or approved by the Company’s Compensation Committee. Certain grants of restricted stock to directors and management accelerated in connection with the Merger on July 28, 2020, resulting in approximately $15.1 of stock-based compensation expense during the three months ended July 31, 2020 . As a result, stock-based compensation was $17.4 and $4.6 for the three months ended July 31, 2020 and 2019 , respectively and $16.7 , and $9.0 for the six months ended July 31, 2020 and 2019 , respectively. Unrecognized compensation cost related to restricted stock awards made by the Company was $6.0 at July 31, 2020 . As of the date of the QES acquisition, all unvested QES restricted stock unit awards were converted into replacement KLXE restricted stock unit awards. Approximately 2.0 shares of QES common stock subject to awards outstanding was converted to 0.2 shares of common stock assumed by KLXE. The Company also has a qualified Employee Stock Purchase Plan (the “ESPP”), the terms of which allow for qualified employees (as defined in the ESPP) to participate in the purchase of designated shares of the Company’s common stock at a price equal to 85% of the closing price on the last business day of each semi-annual stock purchase period. The fair value of the employee purchase rights represents the difference between the closing price of the Company’s shares on the date of purchase and the purchase price of the shares. Because the ESPP did not have enough shares reserved to satisfy outstanding options to purchase during the offering period ending June 30, 2020, the Company refunded participants’ contributions. In addition, the Company agreed with QES to suspend the ESPP for the Merger. As a result, compensation cost was $0.0 and immaterial for the three months ended July 31, 2020 and 2019 , respectively, and $0.0 and $0.1 for the six months ended July 31, 2020 and 2019 , respectively. The Company's shareholders approved an amendment to the ESPP at the Company's annual meeting on July 24, 2020, for an increase of 300,000 shares to the ESPP's share reserve.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense was $0.0 and $0.1 for the three and six months ended July 31, 2020 , respectively, and was comprised primarily of state and local taxes, compared to $0.1 and $0.4 for the three and six months ended July 31, 2019 , respectively. Because the Company has a valuation allowance against its deferred tax balances, it was unable to recognize a tax benefit at the federal statutory rate of 21% on its year to date losses. In response to the COVID-19 pandemic, many governments have enacted or are contemplating measures to provide aid and economic stimulus. These measures may include deferring the due dates of tax payments or other changes to their income and non-income-based tax laws. The Coronavirus Aid, Relief, and Economic Security Act, which was enacted on March 27, 2020 in the United States, includes measures to assist companies, including temporary changes to income and non-income-based tax laws. The Company has deferred the employer portion of FICA tax payments of $1.3 as of July 31, 2020. This deferral is included in other non-current liabilities on the condensed consolidated balance sheet. These payments are due in two installments: half on December 31, 2021 and half on December 31, 2022 . The Company continues to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others.

Segment Reporting

Segment Reporting	6 Months Ended
	Jul. 31, 2020
Segment Reporting [Abstract]
Segment Reporting	NOTE 13 - Segment Reporting The Company is organized on a geographic basis. The Company’s reportable segments, which are also its operating segments, are comprised of the Southwest Region (the Permian Basin and the Eagle Ford Shale), the Rocky Mountains Region (the Bakken, Williston, DJ, Uinta, Powder River, Piceance and Niobrara basins) and the Northeast/Mid-Con Region (the Marcellus and Utica Shale as well as the Mid-Continent STACK and SCOOP and Haynesville Shale). The segments regularly report their results of operations and make requests for capital expenditures and acquisition funding to the Company’s chief operational decision-making group (“CODM”), the President and Chief Executive Officer, and the Chief Financial Officer. As a result, the CODM has determined the Company has three reportable segments. The following table presents revenues and operating (losses) earnings by reportable segment: Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Revenues Southwest $ 4.2 $ 53.3 $ 28.6 $ 111.3 Rocky Mountains 18.0 63.5 51.8 112.1 Northeast/Mid-Con 14.0 48.1 38.8 87.3 Total revenues 36.2 164.9 119.2 310.7 Operating (loss) earnings (1)(2) Southwest (11.1 ) (1.6 ) (111.5 ) (5.6 ) Rocky Mountains (25.6 ) 8.7 (63.4 ) 11.6 Northeast/Mid-Con (17.2 ) 3.9 (114.6 ) 7.4 Bargain purchase gain 41.1 — 41.1 — Total operating (loss) earnings (12.8 ) 11.0 (248.4 ) 13.4 Interest expense, net 7.6 7.4 15.0 14.5 (Loss) earnings before income taxes $ (20.4 ) $ 3.6 $ (263.4 ) $ (1.1 ) (1) Operating (loss) earnings include an allocation of employee benefits and general and administrative costs primarily based on each segment’s percentage of total revenues for the three and six months ended July 31, 2020 and 2019 . (2) Operating loss for the six month period ended July 31, 2020 includes a goodwill and long-lived asset impairment charge of $208.7 , of which $91.3 was attributable to the Southwest segment, $28.3 was attributable to the Rocky Mountains segment and $89.1 was attributable to the Northeast/Mid-Con segment. The following table presents revenues by service offering by reportable segment: Three Months Ended July 31, 2020 July 31, 2019 Southwest Rocky Mountains Northeast /Mid-Con Total Southwest Rocky Mountains Northeast /Mid-Con Total Completion revenues $ 1.6 $ 11.5 $ 8.8 $ 21.9 $ 38.0 $ 37.5 $ 20.0 $ 95.5 Production revenues 1.2 3.1 2.5 6.8 5.5 13.0 10.1 28.6 Intervention revenues 1.4 3.4 2.7 7.5 9.8 13.0 18.0 40.8 Total revenues $ 4.2 $ 18.0 $ 14.0 $ 36.2 $ 53.3 $ 63.5 $ 48.1 $ 164.9 Six Months Ended July 31, 2020 July 31, 2019 Southwest Rocky Mountains Northeast /Mid-Con Total Southwest Rocky Mountains Northeast /Mid-Con Total Completion revenues $ 17.6 $ 31.3 $ 22.9 $ 71.8 $ 78.6 $ 65.0 $ 38.3 $ 181.9 Production revenues 4.1 10.6 6.2 20.9 12.7 23.5 22.4 58.6 Intervention revenues 6.9 9.9 9.7 26.5 20.0 23.6 26.6 70.2 Total revenues $ 28.6 $ 51.8 $ 38.8 $ 119.2 $ 111.3 $ 112.1 $ 87.3 $ 310.7 The following table presents capital expenditures by reportable segment: Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Southwest $ 1.1 $ 9.6 $ 2.6 $ 15.0 Rocky Mountains 1.9 11.2 4.1 22.7 Northeast/Mid-Con 0.7 6.4 1.8 19.1 Total capital expenditures $ 3.7 $ 27.2 $ 8.5 $ 56.8 Capital expenditures for the administrative office and functions have been allocated to the above segments based on each segment’s percentage of total capital expenditures. The following table presents total assets by reportable segment: July 31, 2020 (1) January 31, 2020 Southwest $ 96.6 $ 203.6 Rocky Mountains 266.6 233.5 Northeast/Mid-Con 61.9 186.3 Total assets $ 425.1 $ 623.4 (1) See Note 6 for a discussion of the goodwill and long-lived asset impairment charge recorded during the six months ended July 31, 2020 . Assets for the administrative office and functions have been allocated to the above segments based on each segment’s percentage of total assets. The following table presents total goodwill by reportable segment: July 31, 2020 January 31, 2020 Southwest $ — $ — Rocky Mountains (1) — 28.3 Northeast/Mid-Con — — Total goodwill $ — $ 28.3 (1) See Note 6 for a discussion of the goodwill impairment charge recorded during the six months ended July 31, 2020 .

Net (Loss) Earnings Per Common

Net (Loss) Earnings Per Common Share	6 Months Ended
	Jul. 31, 2020
Earnings Per Share [Abstract]
Net Loss Per Common Share	Net (Loss) Earnings Per Common Share On July 28, 2020, immediately prior to consummation of the Merger, the Reverse Stock Split Amendment became effective and thereby effectuated the 1-for-5 Reverse Stock Split of the Company's issued and outstanding common stock. Basic net loss per common share is computed using the weighted average common shares outstanding during the period and includes 83,333 shares of KLXE common stock to effect the Red Bone acquisition, which will be issued in September 2020. Such shares are included in the computation of basic weighted average common shares from the date of the acquisition. Diluted net loss per common share is computed by using the weighted average common shares outstanding including the dilutive effect of restricted shares based on an average share price during the period. For the three months ended July 31, 2020 and 2019 , 0.7 and 0.4 shares of the Company’s common stock, respectively, and for the six months ended July 31, 2020 and 2019 , 0.7 and 0.5 shares, respectively, were excluded from the determination of diluted net loss per common share because their effect would have been anti-dilutive. The computations of basic and diluted net loss per share for the three and six months ended July 31, 2020 and 2019 are as follows: Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Net (loss) earnings $ (20.4 ) $ 3.5 $ (263.5 ) $ (1.5 ) (Shares in millions) (2) Basic weighted average common shares 5.0 4.5 4.8 4.4 Effect of dilutive securities - dilutive securities — — — — Diluted weighted average common shares 5.0 4.5 4.8 4.4 Basic net (loss) earnings per common share (1) (2) $ (4.12 ) $ 0.78 $ (55.00 ) $ (0.34 ) Diluted net (loss) earnings per common share (1) (2) $ (4.12 ) $ 0.78 $ (55.00 ) $ (0.34 ) (1) On July 28, 2020, each issued and outstanding share of QES common stock was automatically converted into the right to receive 0.0969 shares of KLXE common stock, which reflects adjustment for the 1-for-5 Reverse Stock Split of the KLXE common stock effected immediately prior to the consummation of the Merger. (2) Shares and per share data have been retroactively adjusted to reflect the Company's 1-for-5 Reverse Stock Split effective July 28, 2020.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jul. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments which, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown are of a normal recurring nature and have been reflected in the condensed consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full fiscal year 2020 or for any future period. The information included in these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020 . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and related disclosures. Actual results could differ from those estimates.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jul. 31, 2020
Business Combinations [Abstract]
Schedule of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of assets acquired and liabilities assumed in the Merger in accordance with ASC 805: QES Cash $ 8.7 Accounts receivable-trade 12.2 Inventories 14.0 Other current and non-current assets 6.4 Property and equipment 84.0 Accounts payable (27.2) Other current and non-current liabilities (12.6) Bargain purchase (41.1) Total purchase price (1) $ 44.4 (1) The total consideration transferred of $44.4 includes a cash transfer of $9.7 to pay off a QES ABL Facility. Tecton Red Bone Accounts receivable-trade $ 2.1 $ 7.2 Inventories — 2.7 Other current and non-current assets 0.2 — Property and equipment 2.8 23.6 Goodwill 15.0 16.8 Identified intangibles 6.2 13.2 Accounts payable and accrued liabilities (2.1) (4.2) Other current and non-current liabilities (1.6) (7.3) Total consideration paid $ 22.6 $ 52.0
Schedule of proforma information of revenues and net earnings (loss)	On a pro forma basis to give effect to the Tecton and Red Bone acquisitions, as if they occurred on February 1, 2019, revenues, net earnings (loss) and earnings (loss) per diluted share for the three and six months ended July 31, 2019 would have been as follows: Unaudited Pro Forma Three Months Ended Six Months Ended July 31, 2019 July 31, 2019 Revenues $ 164.9 $ 318.4 Net earnings (loss) 3.5 (1.0) Earnings (loss) per diluted share 0.16 (0.05) On a pro forma basis to give effect to the Merger, as if it occurred on February 1, 2019, revenues, net loss and loss per diluted share for the three and six months ended July 31, 2020 and 2019 would have been as follows: Unaudited Pro Forma Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Revenues $ 54.5 $ 292.5 $ 212.7 $ 572.9 Net loss 54.8 4.4 317.8 18.9 Loss per diluted share 6.52 0.56 38.76 2.42

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: July 31, 2020 January 31, 2020 Supplies $ 14.3 $ 5.6 Plugs 6.4 6.1 Consumables 6.2 1.0 Work-in-progress — 0.2 Other 2.3 0.6 Total inventories $ 29.2 $ 13.5

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Useful Life (Years) July 31, 2020 January 31, 2020 Land, buildings and improvements 1 — 40 $ 44.0 $ 38.2 Machinery 1 — 20 229.4 257.9 Furniture and equipment 1 — 15 178.5 216.7 Total property and equipment 451.9 512.8 Less accumulated depreciation 217.8 206.0 Property and equipment, net $ 234.1 $ 306.8

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jul. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets by Major Asset Class	The following sets forth the intangible assets by major asset class, all of which were acquired through business purchase transactions: July 31, 2020 January 31, 2020 Useful Life (Years) Original Cost Accumulated Amortization Net Book Value Original Cost Accumulated Amortization Net Book Value Customer contracts and relationships (1) 10 $ 5.7 $ 3.1 $ 2.6 $ 43.0 $ 2.4 $ 40.6 Covenants not to compete 1.5 - 3 0.5 0.5 — 4.7 1.9 2.8 Developed technologies 15 — — — 3.3 0.9 2.4 Total intangible assets $ 6.2 $ 3.6 $ 2.6 $ 51.0 $ 5.2 $ 45.8 (1) The customer contracts and relationships intangible asset's useful life was reduced from 20 to 10 years as of July 31, 2020.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jul. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: July 31, 2020 January 31, 2020 Accrued salaries, vacation and related benefits $ 18.8 $ 13.9 Accrued property taxes 4.5 2.3 Accrued incentive compensation 0.8 2.3 Other accrued liabilities 9.7 7.7 Total accrued liabilities $ 33.8 $ 26.2

Fair Value Information (Tables)

Fair Value Information (Tables)	6 Months Ended
	Jul. 31, 2020
Fair Value Disclosures [Abstract]
Summary of Impairments of Goodwill and Long-lived Assets	The following table summarizes the related post-impairment fair values of the corresponding assets. July 31, 2020 January 31, 2020 Fair Value (1) Carrying Value Property and equipment, net $ 52.8 $ 194.0 Goodwill — 28.3 Intangible assets — 39.2 $ 52.8 $ 261.5 (1) See Note 6 for a discussion of the changes in goodwill and long-lived asset values due to impairment charges recorded during the six months ended July 31, 2020 .

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 31, 2020
Segment Reporting [Abstract]
Revenues and Other Financial Information by Business Segment	The following table presents revenues and operating (losses) earnings by reportable segment: Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Revenues Southwest $ 4.2 $ 53.3 $ 28.6 $ 111.3 Rocky Mountains 18.0 63.5 51.8 112.1 Northeast/Mid-Con 14.0 48.1 38.8 87.3 Total revenues 36.2 164.9 119.2 310.7 Operating (loss) earnings (1)(2) Southwest (11.1 ) (1.6 ) (111.5 ) (5.6 ) Rocky Mountains (25.6 ) 8.7 (63.4 ) 11.6 Northeast/Mid-Con (17.2 ) 3.9 (114.6 ) 7.4 Bargain purchase gain 41.1 — 41.1 — Total operating (loss) earnings (12.8 ) 11.0 (248.4 ) 13.4 Interest expense, net 7.6 7.4 15.0 14.5 (Loss) earnings before income taxes $ (20.4 ) $ 3.6 $ (263.4 ) $ (1.1 ) (1) Operating (loss) earnings include an allocation of employee benefits and general and administrative costs primarily based on each segment’s percentage of total revenues for the three and six months ended July 31, 2020 and 2019 . (2) Operating loss for the six month period ended July 31, 2020 includes a goodwill and long-lived asset impairment charge of $208.7 , of which $91.3 was attributable to the Southwest segment, $28.3 was attributable to the Rocky Mountains segment and $89.1 was attributable to the Northeast/Mid-Con segment.
Schedule of Revenues by Service Offering by Reportable Segment	The following table presents revenues by service offering by reportable segment: Three Months Ended July 31, 2020 July 31, 2019 Southwest Rocky Mountains Northeast /Mid-Con Total Southwest Rocky Mountains Northeast /Mid-Con Total Completion revenues $ 1.6 $ 11.5 $ 8.8 $ 21.9 $ 38.0 $ 37.5 $ 20.0 $ 95.5 Production revenues 1.2 3.1 2.5 6.8 5.5 13.0 10.1 28.6 Intervention revenues 1.4 3.4 2.7 7.5 9.8 13.0 18.0 40.8 Total revenues $ 4.2 $ 18.0 $ 14.0 $ 36.2 $ 53.3 $ 63.5 $ 48.1 $ 164.9 Six Months Ended July 31, 2020 July 31, 2019 Southwest Rocky Mountains Northeast /Mid-Con Total Southwest Rocky Mountains Northeast /Mid-Con Total Completion revenues $ 17.6 $ 31.3 $ 22.9 $ 71.8 $ 78.6 $ 65.0 $ 38.3 $ 181.9 Production revenues 4.1 10.6 6.2 20.9 12.7 23.5 22.4 58.6 Intervention revenues 6.9 9.9 9.7 26.5 20.0 23.6 26.6 70.2 Total revenues $ 28.6 $ 51.8 $ 38.8 $ 119.2 $ 111.3 $ 112.1 $ 87.3 $ 310.7
Capital Expenditures by Reportable Segment	The following table presents capital expenditures by reportable segment: Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Southwest $ 1.1 $ 9.6 $ 2.6 $ 15.0 Rocky Mountains 1.9 11.2 4.1 22.7 Northeast/Mid-Con 0.7 6.4 1.8 19.1 Total capital expenditures $ 3.7 $ 27.2 $ 8.5 $ 56.8
Total Assets by Reportable Segment	The following table presents total assets by reportable segment: July 31, 2020 (1) January 31, 2020 Southwest $ 96.6 $ 203.6 Rocky Mountains 266.6 233.5 Northeast/Mid-Con 61.9 186.3 Total assets $ 425.1 $ 623.4 (1) See Note 6 for a discussion of the goodwill and long-lived asset impairment charge recorded during the six months ended July 31, 2020 .
Goodwill by Reportable Segment	The following table presents total goodwill by reportable segment: July 31, 2020 January 31, 2020 Southwest $ — $ — Rocky Mountains (1) — 28.3 Northeast/Mid-Con — — Total goodwill $ — $ 28.3 (1) See Note 6 for a discussion of the goodwill impairment charge recorded during the six months ended July 31, 2020 .

Net (Loss) Earnings Per Commo_2

Net (Loss) Earnings Per Common Share (Tables)	6 Months Ended
	Jul. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Share	The computations of basic and diluted net loss per share for the three and six months ended July 31, 2020 and 2019 are as follows: Three Months Ended Six Months Ended July 31, 2020 July 31, 2019 July 31, 2020 July 31, 2019 Net (loss) earnings $ (20.4 ) $ 3.5 $ (263.5 ) $ (1.5 ) (Shares in millions) (2) Basic weighted average common shares 5.0 4.5 4.8 4.4 Effect of dilutive securities - dilutive securities — — — — Diluted weighted average common shares 5.0 4.5 4.8 4.4 Basic net (loss) earnings per common share (1) (2) $ (4.12 ) $ 0.78 $ (55.00 ) $ (0.34 ) Diluted net (loss) earnings per common share (1) (2) $ (4.12 ) $ 0.78 $ (55.00 ) $ (0.34 ) (1) On July 28, 2020, each issued and outstanding share of QES common stock was automatically converted into the right to receive 0.0969 shares of KLXE common stock, which reflects adjustment for the 1-for-5 Reverse Stock Split of the KLXE common stock effected immediately prior to the consummation of the Merger. (2) Shares and per share data have been retroactively adjusted to reflect the Company's 1-for-5 Reverse Stock Split effective July 28, 2020.

Description of Business and B_3

Description of Business and Basis of Presentation (Details)	Jul. 28, 2020	Jul. 24, 2020	Jul. 31, 2020service_facility
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of service facilities			60
Reverse stock split ratio	0.2		0.2
Minimum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Reverse stock split ratio		0.10
Maximum
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Reverse stock split ratio		0.20

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounts receivable	$ 40.5	$ 79.2

Business Combinations - QES Mer

Business Combinations - QES Merger (Details) - USD ($) shares in Millions, $ in Millions	Jul. 28, 2020	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Business Combinations
Bargain purchase gain		$ 41.1	$ 0	$ 41.1	$ 0
QES Merger
Business Combinations
Total consideration	$ 44.4
Number of shares in acquisition	3.4
Bargain purchase gain	$ 41.1
Acquisitions revenues		0.7
Loss included in results		$ 3.2		$ 2.2
QES ABL Facility | Asset based revolving line of credit
Business Combinations
Debt term	5 years
Quintana Energy Services Inc. | QES ABL Facility | Asset based revolving line of credit
Business Combinations
Repayments of long-term debt	$ 9.7
RSUs | QES Merger
Business Combinations
Agreements assumed, fair value	2
Compensation agreement, allocation to purchase price	0.4
Post-acquisition compensation, not yet recognized	$ 1.6

Business Combinations - QES M_2

Business Combinations - QES Merger Assets Acquired and Liabilities Assumed (Details) - USD ($)	Jul. 28, 2020	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Business Combinations
Bargain purchase		$ (41,100,000)	$ 0	$ (41,100,000)	$ 0
QES Merger
Business Combinations
Cash	$ 8,700,000
Accounts receivable-trade	12,200,000
Inventories	14,000,000
Other current and non-current assets	6,400,000
Property and equipment	84,000,000
Accounts payable	(27,200,000)
Other current and non-current liabilities	(12,600,000)
Bargain purchase	(41,100,000)
Total consideration paid	44,400,000
Total consideration	44,400,000
Pro forma
Revenues		54.5	292.5	212.7	572.9
Net (loss) earnings		$ 54.8	$ 4.4	$ 317.8	$ 18.9
(Loss) earnings per diluted share		$ 6.52	$ 0.56	$ 38.76	$ 2.42
Quintana Energy Services Inc. | QES ABL Facility | Asset based revolving line of credit
Business Combinations
Repayments of long-term debt	$ 9,700,000

Business Combinations - 2019 Ac

Business Combinations - 2019 Acquisitions (Details) - USD ($) $ in Millions	Mar. 19, 2019	Jul. 31, 2019	Jul. 31, 2020	Jul. 30, 2020	Jul. 31, 2019	Jan. 31, 2020
Business Combinations
Goodwill			$ 0			$ 28.3
Tecton and Red Bone
Business Combinations
Total consideration	$ 74.6
Common stock value issued as consideration	47
Cash paid for acquisition	27.6
Excess of purchase price over the fair market value of identifiable assets.	51.2
Identifiable intangible assets	19.4
Goodwill	$ 31.8
Acquisitions revenues		$ 6			$ 9.1
Tecton
Business Combinations
Goodwill		15			15
Red Bone
Business Combinations
Goodwill		$ 16.8			$ 16.8
Customer contracts and relationships
Business Combinations
Useful Life (Years)			10 years	20 years
Customer contracts and relationships | Tecton and Red Bone
Business Combinations
Useful Life (Years)	10 years
Covenants not to compete | Minimum
Business Combinations
Useful Life (Years)			1 year 6 months
Covenants not to compete | Maximum
Business Combinations
Useful Life (Years)			3 years
Covenants not to compete | Tecton | Minimum
Business Combinations
Useful Life (Years)	1 year 6 months
Covenants not to compete | Tecton | Maximum
Business Combinations
Useful Life (Years)	3 years
Covenants not to compete | Red Bone | Minimum
Business Combinations
Useful Life (Years)	1 year 6 months
Covenants not to compete | Red Bone | Maximum
Business Combinations
Useful Life (Years)	3 years

Business Combinations - 2019 _2

Business Combinations - 2019 Acquisitions Assets Acquired and Liabilities Assumed (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 31, 2019	Jul. 31, 2019	Jul. 31, 2020	Jan. 31, 2020	Mar. 19, 2019
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill			$ 0	$ 28,300,000
Tecton and Red Bone
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill					$ 31,800,000
Pro forma
Revenues	$ 164.9	$ 318.4
Net (loss) earnings	$ 3.5	$ (1)
(Loss) earnings per diluted share	$ 0.16	$ (0.05)
Tecton
Business Combination, Separately Recognized Transactions [Line Items]
Accounts receivable-trade	$ 2,100,000	$ 2,100,000
Inventories	0	0
Other current and non-current assets	200,000	200,000
Property and equipment	2,800,000	2,800,000
Goodwill	15,000,000	15,000,000
Identified intangibles	6,200,000	6,200,000
Accounts payable and accrued liabilities	(2,100,000)	(2,100,000)
Other current and non-current liabilities	(1,600,000)	(1,600,000)
Total consideration paid	22,600,000	22,600,000
Red Bone
Business Combination, Separately Recognized Transactions [Line Items]
Accounts receivable-trade	7,200,000	7,200,000
Inventories	2,700,000	2,700,000
Other current and non-current assets	0	0
Property and equipment	23,600,000	23,600,000
Goodwill	16,800,000	16,800,000
Identified intangibles	13,200,000	13,200,000
Accounts payable and accrued liabilities	(4,200,000)	(4,200,000)
Other current and non-current liabilities	(7,300,000)	(7,300,000)
Total consideration paid	$ 52,000,000	$ 52,000,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Inventory Disclosure [Abstract]
Supplies	$ 14.3	$ 5.6
Plugs	6.4	6.1
Consumables	6.2	1
Work-in-progress	0	0.2
Other	2.3	0.6
Total inventories	29.2	13.5
Inventory reserve	$ 2.5	$ 1.5

Property and Equipment, Net (Pr

Property and Equipment, Net (Property and Equipment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019	Jan. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 451.9		$ 451.9		$ 512.8
Less accumulated depreciation	217.8		217.8		206
Property, Plant and Equipment, Net, Total	234.1		234.1		306.8
Depreciation expense	10.1	$ 15.4	25.3	$ 29.4
Assets held-for-sale	3.5		3.5
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	44		$ 44		38.2
Land, buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)			P1Y
Land, buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)			P40Y
Machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	229.4		$ 229.4		257.9
Machinery | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)			P1Y
Machinery | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)			P20Y
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 178.5		$ 178.5		$ 216.7
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)			P1Y
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)			P15Y

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Major Asset Classes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 30, 2020	Jul. 31, 2019	Jan. 31, 2020
Goodwill and Intangible Assets Disclosure [Line Items]
Original Cost	$ 6.2		$ 6.2			$ 51
Accumulated Amortization	3.6		3.6			5.2
Net Book Value	2.6		2.6			45.8
Amortization expense of intangible assets	2.8	$ 1.1	3.8		$ 1.9
Accelerated amortization of intangible assets	2.7
Long-lived asset impairment charge			180.4
Impairment charge			39.2
Long-lived asset impairment charge, property and equipment			141.2
Asset impairment charge	0	$ 0	$ 208.7		$ 0
Customer contracts and relationships
Goodwill and Intangible Assets Disclosure [Line Items]
Useful Life (Years)			10 years	20 years
Original Cost	5.7		$ 5.7			43
Accumulated Amortization	3.1		3.1			2.4
Net Book Value	2.6		2.6			40.6
Covenants not to compete
Goodwill and Intangible Assets Disclosure [Line Items]
Original Cost	0.5		0.5			4.7
Accumulated Amortization	0.5		0.5			1.9
Net Book Value	0		$ 0			2.8
Covenants not to compete | Minimum
Goodwill and Intangible Assets Disclosure [Line Items]
Useful Life (Years)			1 year 6 months
Covenants not to compete | Maximum
Goodwill and Intangible Assets Disclosure [Line Items]
Useful Life (Years)			3 years
Developed Technologies
Goodwill and Intangible Assets Disclosure [Line Items]
Useful Life (Years)			15 years
Original Cost	0		$ 0			3.3
Accumulated Amortization	0		0			0.9
Net Book Value	$ 0		0			$ 2.4
Southwest
Goodwill and Intangible Assets Disclosure [Line Items]
Asset impairment charge			91.3
Northeast/Mid-Con
Goodwill and Intangible Assets Disclosure [Line Items]
Asset impairment charge			89.1
Rocky Mountains
Goodwill and Intangible Assets Disclosure [Line Items]
Asset impairment charge			$ 28.3
Percentage of undiscounted cash flows exceeding carrying value of assets	50.00%

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Payables and Accruals [Abstract]
Accrued salaries, vacation and related benefits	$ 18.8	$ 13.9
Accrued property taxes	4.5	2.3
Accrued incentive compensation	0.8	2.3
Other accrued liabilities	9.7	7.7
Total accrued liabilities	$ 33.8	$ 26.2

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Jul. 31, 2020	Jan. 31, 2020
Asset based revolving line of credit
Debt Instrument [Line Items]
Revolving credit facility	$ 100,000,000
Amount outstanding	0
Current borrowing capacity	14,900,000	$ 60,000,000
Outstanding letter of credit amount	6,300,000
Senior Secured Notes 11.5 Percent Due 2025
Debt Instrument [Line Items]
Principle amount	$ 250,000,000
Debt instrument, stated interest rate (as a percent)	11.50%
Long term debt outstanding	$ 243,400,000

Fair Value Information (Details

Fair Value Information (Details) - USD ($)	Jul. 31, 2020	Jan. 31, 2020
Carrying Value
Property and equipment, net	$ 52,800,000	$ 194,000,000
Goodwill	0	28,300,000
Intangible assets	0	39,200,000
Total fair value	52,800,000	261,500,000
Asset based revolving line of credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding	0
Fair Value, Inputs, Level 2 | Senior Secured Notes 11.5 Percent Due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 125,000,000	$ 202,500,000

Commitments, Contingencies an_2

Commitments, Contingencies and Off-Balance Sheet Arrangements (Details) $ in Millions	12 Months Ended
	Jan. 31, 2020USD ($)
Third Party Credit Card Theft
Loss Contingencies [Line Items]
Credit card theft, loss	$ 2.6

Accounting for Stock-Based Co_2

Accounting for Stock-Based Compensation (Details) - USD ($) $ in Millions	Jul. 28, 2020	Jul. 24, 2020	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense, net			$ 17.4	$ 4.6	$ 16.7	$ 9
Unrecognized compensation cost			6		$ 6
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Qualified employees purchase of stock at a price equal to percentage of closing price					85.00%
Share based compensation			0		$ 0	$ 0.1
Increase in shares related to ESPP (in shares)		300,000
QES Merger
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense, net			$ 15.1
Assumed compensation agreement, number of shares converted (in shares)	200,000
QES Merger | Quintana Energy Services Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assumed compensation agreement, number of shares outstanding (in shares)	2,000,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0	$ 0.1	$ 0.1	$ 0.4
Effective U.S. federal income tax rate			21.00%
Accrued payroll taxes	$ 1.3		$ 1.3

Segment Reporting (Revenues and

Segment Reporting (Revenues and Operating Earnings (Losses) by Reportable Segment) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020USD ($)Segment	Jul. 31, 2019USD ($)	Jul. 31, 2020USD ($)	Jul. 31, 2019USD ($)
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments | Segment	3
Revenues	$ 36.2	$ 164.9	$ 119.2	$ 310.7
Operating (loss) earnings	(12.8)	11	(248.4)	13.4
Bargain purchase gain	41.1	0	41.1	0
Interest expense	7.6	7.4	15	14.5
(Loss) earnings before income tax	(20.4)	3.6	(263.4)	(1.1)
Asset impairment charge	0	0	208.7	0
Southwest
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	4.2	53.3	28.6	111.3
Operating (loss) earnings	(11.1)	(1.6)	(111.5)	(5.6)
Asset impairment charge			91.3
Rocky Mountains
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	18	63.5	51.8	112.1
Operating (loss) earnings	(25.6)	8.7	(63.4)	11.6
Asset impairment charge			28.3
Northeast/Mid-Con
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	14	48.1	38.8	87.3
Operating (loss) earnings	$ (17.2)	$ 3.9	(114.6)	$ 7.4
Asset impairment charge			$ 89.1

Segment Reporting (Revenues by

Segment Reporting (Revenues by Service Offering by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 36.2	$ 164.9	$ 119.2	$ 310.7
Southwest
Segment Reporting Information [Line Items]
Revenues	4.2	53.3	28.6	111.3
Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	18	63.5	51.8	112.1
Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	14	48.1	38.8	87.3
Completion revenues
Segment Reporting Information [Line Items]
Revenues	21.9	95.5	71.8	181.9
Completion revenues | Southwest
Segment Reporting Information [Line Items]
Revenues	1.6	38	17.6	78.6
Completion revenues | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	11.5	37.5	31.3	65
Completion revenues | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	8.8	20	22.9	38.3
Production revenues
Segment Reporting Information [Line Items]
Revenues	6.8	28.6	20.9	58.6
Production revenues | Southwest
Segment Reporting Information [Line Items]
Revenues	1.2	5.5	4.1	12.7
Production revenues | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	3.1	13	10.6	23.5
Production revenues | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	2.5	10.1	6.2	22.4
Intervention revenues
Segment Reporting Information [Line Items]
Revenues	7.5	40.8	26.5	70.2
Intervention revenues | Southwest
Segment Reporting Information [Line Items]
Revenues	1.4	9.8	6.9	20
Intervention revenues | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	3.4	13	9.9	23.6
Intervention revenues | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	$ 2.7	$ 18	$ 9.7	$ 26.6

Segment Reporting (Capital Expe

Segment Reporting (Capital Expenditures by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jul. 31, 2019	Jul. 31, 2020	Jul. 31, 2019
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 3.7	$ 27.2	$ 8.5	$ 56.8
Southwest
Property, Plant and Equipment [Line Items]
Capital expenditures	1.1	9.6	2.6	15
Rocky Mountains
Property, Plant and Equipment [Line Items]
Capital expenditures	1.9	11.2	4.1	22.7
Northeast/Mid-Con
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 0.7	$ 6.4	$ 1.8	$ 19.1

Segment Reporting (Total Assets

Segment Reporting (Total Assets by Reportable Segment) (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 425.1	$ 623.4
Southwest
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	96.6	203.6
Rocky Mountains
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	266.6	233.5
Northeast/Mid-Con
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 61.9	$ 186.3

Segment Reporting (Goodwill by

Segment Reporting (Goodwill by Reportable Segment) (Details) - USD ($) $ in Millions	Jul. 31, 2020	Jan. 31, 2020
Goodwill [Line Items]
Goodwill	$ 0	$ 28.3
Southwest
Goodwill [Line Items]
Goodwill	0	0
Rocky Mountains
Goodwill [Line Items]
Goodwill	0	28.3
Northeast/Mid-Con
Goodwill [Line Items]
Goodwill	$ 0	$ 0

Net (Loss) Earnings Per Commo_3

Net (Loss) Earnings Per Common Share (Details)	Jul. 28, 2020	Jul. 31, 2020shares	Jul. 31, 2019shares	Jul. 31, 2020shares	Jul. 31, 2019shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Reverse stock split ratio	0.2			0.2
Shares included in weighted average common shares outstanding, acquisitions		83,333
Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from determination of diluted earnings per common share		700,000	400,000	700,000	500,000

Net (Loss) Earnings Per Commo_4

Net (Loss) Earnings Per Common Share (Computations of Basic and Diluted Earnings Per Share) (Details) $ / shares in Units, $ in Millions		Jul. 28, 2020shares	Jul. 31, 2020USD ($)$ / sharesshares	Apr. 30, 2020USD ($)	Jul. 31, 2019USD ($)$ / sharesshares	Apr. 30, 2019USD ($)	Jul. 31, 2020USD ($)$ / sharesshares	Jul. 31, 2019USD ($)$ / sharesshares
Earnings Per Share [Abstract]
Net loss | $			$ (20.4)	$ (243.1)	$ 3.5	$ (5)	$ (263.5)	$ (1.5)
Basic weighted average common shares (in shares)			5,000,000		4,500,000		4,800,000	4,400,000
Effect of dilutive securities - dilutive securities (in shares)			0		0		0	0
Diluted weighted average common shares (in shares)			5,000,000		4,500,000		4,800,000	4,400,000
Basic net loss per common share (in dollars per share) | $ / shares	[1]		$ (4.12)		$ 0.78		$ (55)	$ (0.34)
Diluted net loss per common share (in dollars per share) | $ / shares	[1]		$ (4.12)		$ 0.78		$ (55)	$ (0.34)
Reverse stock split ratio		0.2					0.2
Number of securities issued for each share of common stock		0.0969
[1]	(1) Basic and diluted net (loss) earnings per share were retroactively adjusted for the Company’s 1-for-5 Reverse Stock Split effective July 28, 2020. See Note 1.