KLX Energy Services (KLXE) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 06, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	3040 Post Oak Boulevard
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	832
Local Phone Number	844-1015
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	Non-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		11,689,384
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001738827
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 19.4	$ 28
Accounts receivable–trade, net of allowance of $6.2 and $6.2	107	103.2
Inventories, net	24.3	22.4
Other current assets	11.4	11.1
Total current assets	162.1	164.7
Property and equipment, net	168.4	171
Operating lease assets	44.6	47.4
Intangible assets, net	2.1	2.2
Other assets	2.3	2.4
Total assets	379.5	387.7
Current liabilities:
Accounts payable	71.9	72.1
Accrued interest	12.3	5
Accrued liabilities	24.9	24.1
Current portion of operating lease obligations	15.3	15.9
Current portion of finance lease obligations	6.7	5.6
Total current liabilities	131.1	122.7
Long-term debt	275.1	274.8
Long-term operating lease obligations	29	31.5
Long-term finance lease obligations	11.1	9.1
Other non-current liabilities	0.4	1
Commitments, contingencies and off-balance sheet arrangements
Stockholders’ deficit:
Common stock, $0.01 par value; 110.0 authorized; 11.4 and 10.5 issued	0.1	0.1
Additional paid-in capital	482.5	478.1
Treasury stock, at cost, 0.4 shares and 0.3 shares	(4.6)	(4.3)
Accumulated deficit	(545.2)	(525.3)
Total stockholders’ deficit	(67.2)	(51.4)
Total liabilities and stockholders' deficit	$ 379.5	$ 387.7

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets - Parenthetical - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable - trade, allowance for doubtful accounts	$ 6.2	$ 6.2
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares issued (in shares)		10,500,000
Treasury stock (in shares)	400,000	300,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
Income Statement [Abstract]
Revenues	$ 152.3	$ 90.8
Costs and expenses:
Cost of sales	135	88.7
Depreciation and amortization	13.7	15.4
Selling, general and administrative	15	14.9
Research and development costs	0.1	0.1
Impairment and other charges	0	0.6
Operating loss	(11.5)	(28.9)
Non-operating expense:
Interest expense, net	8.3	7.8
Loss before income tax	(19.8)	(36.7)
Income tax expense	0.1	0.1
Net loss	$ (19.9)	$ (36.8)
Net loss per share - basic (in dollars per share)	$ (1.98)	$ (4.41)
Net loss per share - diluted (in dollars per share)	$ (1.98)	$ (4.41)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Balance (in shares) at Jan. 31, 2021			8,600
Balance at Jan. 31, 2021	$ 32.1	$ 1.6	$ 0.1	$ 469.1	$ (4)	$ (433.1)	$ 1.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures (in shares)			500
Restricted stock, net of forfeitures	0.8			0.8
Purchase of treasury stock	(0.3)				(0.3)
Net loss	(36.8)					(36.8)
Balance (in shares) at Apr. 30, 2021			9,100
Balance at Apr. 30, 2021	(2.6)		$ 0.1	469.9	(4.3)	(468.3)
Balance (in shares) at Dec. 31, 2021			10,500
Balance at Dec. 31, 2021	(51.4)		$ 0.1	478.1	(4.3)	(525.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures (in shares)			200
Restricted stock, net of forfeitures	0.7			0.7
Purchase of treasury stock	(0.3)				(0.3)
Issuance of common stock, net of cost (in shares)			700
Issuance of common stock, net of cost	3.7			3.7
Net loss	(19.9)					(19.9)
Balance (in shares) at Mar. 31, 2022			11,400
Balance at Mar. 31, 2022	$ (67.2)		$ 0.1	$ 482.5	$ (4.6)	$ (545.2)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
Cash flows from operating activities:
Net loss	$ (19.9)	$ (36.8)
Adjustments to reconcile net loss to net cash flows used in operating activities
Depreciation and amortization	13.7	15.4
Impairment and other charges	0	0.6
Non-cash compensation	0.7	0.8
Amortization of deferred financing fees	0.3	0.3
Provision for inventory reserve	0.1	0
Gain on disposal of property, equipment and other	(2)	(1.8)
Changes in operating assets and liabilities:
Accounts receivable	(3.8)	(3.2)
Inventories	(2)	(0.2)
Other current and non-current assets	4.2	2.8
Accounts payable	(1.5)	6.6
Other current and non-current liabilities	4	4.2
Net cash flows used in operating activities	(6.2)	(11.3)
Cash flows from investing activities:
Purchases of property and equipment	(5.8)	(2.2)
Proceeds from sale of property and equipment	2.6	6.1
Net cash flows (used in) provided by investing activities	(3.2)	3.9
Cash flows from financing activities:
Purchase of treasury stock	(0.3)	(0.3)
Proceeds from stock issuance, net of costs	3	0
Payments on finance lease obligations	(1.5)	(0.5)
Change to financed payables	(0.4)	(1)
Net cash flows provided by (used in) financing activities	0.8	(1.8)
Net decrease in cash and cash equivalents	(8.6)	(9.2)
Cash and cash equivalents, beginning of period	28	47.1
Cash and cash equivalents, end of period	19.4	37.9
Cash paid during period for:
Income taxes paid, net of refunds	0	(0.2)
Interest	0.7	0.2
Supplemental schedule of non-cash activities:
Accrued capital expenditures	$ 1.3	$ 2.5

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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 major active basins throughout the United States. The Company delivers mission critical oilfield services focused on drilling, completion, production and intervention activities for technically demanding wells in over 60 service and support facilities located throughout 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 coiled tubing, directional drilling, thru-tubing, hydraulic fracturing rentals, fishing, pressure control, wireline, rig-assisted snubbing, fluid pumping, flowback, pressure pumping and special situation services. KLXE’s primary rentals include hydraulic fracturing stacks, blow out preventers, tubulars, downhole tools, and accommodation units. KLXE's primary product offering includes a suite of proprietary dissolvable and composite plugs along with liner hangers, stage cementing tools, inflatables, and float/casing equipment. 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 2022 or for any future period. The information included in these condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and accompanying notes included in the Company’s 2021 Transition Report on Form 10-K filed with the SEC on March 14, 2022. 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	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standard Updates not yet Adopted In March 2020, FASB issued accounting standard 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 consolidated financial statements. The financial services industry and market participants continue to work towards transitioning away from interbank offered rates ("IBOR"), including the LIBOR, which are in the process of being phased out. This phasing out will have an impact on the ABL Facility (defined below) that utilizes LIBOR as a benchmark. To transition from IBOR Reference Rate, the ABL Facility agreement between the Company and JP Morgan Chase & Co. ("JP Morgan"), which as of March 31, 2022 has borrowings outstanding of $30.0, will be amended to adopt an alternate rate effective on or before June 30, 2023. Until the ABL Facility agreement is amended to allow for Secured Overnight Financing Rate ("SOFR") as the replacement to LIBOR, the Alternate Base Rate ("ABR"), is the default rate that JP Morgan has agreed to use as the LIBOR replacement. In June 2016, FASB issued Accounting Standards Update (“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 March 31, 2022 had a third-party accounts receivable balance, net of allowance, of $107.0. Topic 326 is not expected to have a material impact on the Company’s condensed consolidated financial statements. Recently Adopted Accounting Standard Updates 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 fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company early adopted Topic 740 in the first quarter of fiscal year 2022. This adoption did not have a material impact on the Company’s condensed consolidated financial statements.

Inventories, Net

Inventories, Net	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, NetInventories consisted of the following: March 31, 2022 December 31, 2021 Spare parts $ 15.9 $ 14.7 Plugs 6.0 6.0 Consumables 2.8 2.4 Other 2.4 2.0 Subtotal 27.1 25.1 Inventory reserve (2.8) (2.7) Total inventories $ 24.3 $ 22.4 Inventories are made up of spare parts, composite and dissolvable plugs and consumables used to perform services for customers. The Company values inventories at the lower of cost or net realizable value. Inventories are reported net of obsolescence reserves of $2.8 and $2.7 as of March 31, 2022 and December 31, 2021, respectively.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment consisted of the following: Useful Life (Years) March 31, 2022 December 31, 2021 Land, buildings and improvements 1 — 40 $ 38.9 $ 38.9 Machinery 1 — 20 215.2 211.4 Furniture and equipment 1 — 15 181.0 179.9 ROU assets - finance leases 1 — 20 20.3 16.5 Total property and equipment 455.4 446.7 Less accumulated depreciation 290.8 280.1 164.6 166.6 Construction in progress 3.8 4.4 Property and equipment, net $ 168.4 $ 171.0 Depreciation expense related to owned fixed assets was $12.1 and $15.0 for the three months ended March 31, 2022 and April 30, 2021, respectively. Finance lease amortization expense was $1.5 and $0.3, respectively, for the three months ended March 31, 2022 and April 30, 2021. Assets Held for Sale As of March 31, 2022, the Company’s condensed consolidated balance sheet included assets classified as held for sale of $1.9. 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 and select equipment. These assets were being actively marketed for sale as of March 31, 2022 and were recorded at the lower of their carrying value or fair value less costs to sell.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term DebtOutstanding long-term debt consisted of the following: March 31, 2022 December 31, 2021 Senior Secured Notes $ 250.0 $ 250.0 ABL Facility 30.0 30.0 Total principal outstanding 280.0 280.0 Unamortized debt issuance costs 4.9 5.2 Total debt, net $ 275.1 $ 274.8 As of March 31, 2022, 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 unamortized debt issuance costs for the Notes, total debt related to the Notes as of March 31, 2022 was $245.1. The Notes bear interest at an annual rate of 11.5%, payable semi-annually in arrears on May 1 and November 1. Accrued interest related to the Notes was $12.0 as of March 31, 2022. As of March 31, 2022, 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. The ABL Facility is tied to a borrowing base formula and has no maintenance financial covenants as long as the minimum level of borrowing availability is maintained. 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. The ABL Facility includes a springing financial covenant which requires the Company’s consolidated fixed charge coverage ratio (“FCCR”) to be at least 1.0 to 1.0 if availability falls below the greater of $10.0 or 15.0% of the line cap. At all times during the three months ended March 31, 2022, availability exceeded this threshold, and the Company was not subject to this financial covenant. As of March 31, 2022, the FCCR was below 1.0 to 1.0, and the Company was in full compliance with its credit facility. Borrowings outstanding under the ABL Facility were $30.0 as of March 31, 2022 and bear interest at a rate equal to LIBOR plus the applicable margin (as defined in the ABL Facility). The effective interest rate under the ABL Facility was approximately 5.0% on March 31, 2022. Total letters of credit outstanding under the ABL Facility were $5.0 both at March 31, 2022 and at December 31, 2021. Accrued interest under the ABL Facility was $0.3 as of March 31, 2022. The financial services industry and market participants continue to work towards transitioning away from interbank offered rates ("IBOR"), including the LIBOR, which are in the process of being phased out. This phasing out will have an impact on the ABL Facility that utilizes LIBOR as a benchmark. To transition from IBOR Reference Rate, the ABL Facility agreement between the Company and JP Morgan Chase & Co. ("JP Morgan"), which as of March 31, 2022 has borrowings outstanding of $30.0, will be amended to adopt an alternate rate effective on or before June 30, 2023. Until the ABL Facility agreement is amended to allow for Secured Overnight Financing Rate ("SOFR") as the replacement to LIBOR, the Alternate Base Rate ("ABR"), is the default rate that JP Morgan has agreed to use as the LIBOR replacement. We have total funds available of $47.6 and net funds available of $35.2, after $12.4 FCCR holdback, on the March 31, 2022 borrowing base certificate.

Fair Value Information

Fair Value Information	3 Months Ended
	Mar. 31, 2022
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 $30.0 debt outstanding under the ABL Facility as of March 31, 2022. The fair value of the ABL Facility approximates its carrying value as of March 31, 2022. The following tables present the placement in the fair value hierarchy of the Notes, based on market prices for publicly traded debt, as of March 31, 2022 and December 31, 2021: Fair value measurements at reporting date using March 31, 2022 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 166.3 $ — $ 166.3 $ — Total Senior Secured Notes $ 166.3 $ — $ 166.3 $ — Fair value measurements at reporting date using December 31, 2021 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 136.3 $ — $ 136.3 $ — Total Senior Secured Notes $ 136.3 $ — $ 136.3 $ —

Commitments, Contingencies and

Commitments, Contingencies and Off-Balance Sheet Arrangements	3 Months Ended
	Mar. 31, 2022
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 that 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 The Company is at times either a plaintiff or 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. On March 9, 2021, the Company filed claims in the District Court of Harris County, Texas against Magellan E&P Holdings, Inc. ("Magellan"), Redmon-Keys Insurance Group, Inc. and certain underwriters at Lloyd's ("Underwriters") to recover $4.6 owed on invoices duly issued by the Company for services rendered on behalf of the defendants in response to an offshore well blowout near Bob Hall Pier in Corpus Christi, Texas. Magellan did not dispute the invoices but alleged an inability to pay prior to obtaining funding from Underwriters under Magellan's Owner's Extra Expense Policy. On March 19, 2021, Underwriters filed a declaratory judgment action in the United States District Court for the Southern District of Texas seeking a declaration that certain blowout related expenses fall outside of policy coverage. On March 30, 2021, Magellan filed for bankruptcy pursuant to Chapter 7 of the U.S. bankruptcy code. The bankruptcy proceedings are ongoing. We expect that the trustee will continue to pursue claims against Underwriters as well as preference and other claims to maximize the value of the Chapter 7 estate for the benefit of trade creditors. During the year ended January 31, 2021, the Company reserved the full amount of its invoices totaling $4.6 as a prudent action in light of the Chapter 7 filing. 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.

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Deficit	Stockholders' Deficit Equity Distribution Agreement On June 14, 2021, the Company entered into an Equity Distribution Agreement (the “Equity Distribution Agreement”) with Piper Sandler & Co. as sales agent (the “Agent”). Pursuant to the terms of the Equity Distribution Agreement, the Company may sell from time to time through the Agent (the “ATM Offering”) the Company’s common stock, par value $0.01 per share, having an aggregate offering price of up to $50.0 (the “Common Stock”). Any Common Stock offered and sold in the ATM Offering will be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-256149) filed with the SEC on May 14, 2021 and declared effective on June 11, 2021 (the “Registration Statement”), the prospectus supplement relating to the ATM Offering filed with the SEC on June 14, 2021 and any applicable additional prospectus supplements related to the ATM Offering that form a part of the Registration Statement. Sales of Common Stock under the Equity Distribution Agreement may be made in any transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act. The Equity Distribution Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the Agent, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. Under the terms of the Equity Distribution Agreement, the Company will pay the Agent a commission equal to 3.0% of the gross sales price of the Common Stock sold. The Company plans to use the net proceeds from the ATM Offering, after deducting the Agent’s commissions and the Company’s offering expenses, for general corporate purposes, which may include, among other things, paying or refinancing all or a portion of the Company’s then-outstanding indebtedness, and funding acquisitions, capital expenditures and working capital. During the three months ended March 31, 2022, the Company sold 695,377 shares of Common Stock for gross proceeds of approximately $3.7 and paid legal and administrative fees of $0.1. Note that $0.6 of the gross proceeds is included on the condensed consolidated balance sheet in other current assets. Stock-Based Compensation The Company has a Long-Term Incentive Plan (“LTIP”) under which the compensation committee of the Board of Directors (the “Board”) of the Company (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. On February 12, 2021, the stockholders of KLXE approved the KLX Energy Services Holdings, Inc. Long-Term Incentive Plan (Amended and Restated as of December 2, 2020) (the “Amended and Restated LTIP”), which, among other things, increased the total number of shares of Company Common Stock, par value $0.01 per share, and reserved for issuance under the Amended and Restated LTIP by 632,051 shares. A description of the Amended and Restated LTIP is included in the Company’s proxy statement, filed with the SEC on January 11, 2021. Compensation cost recognized during the three months ended March 31, 2022 and April 30, 2021 was related to grants of restricted stock as approved by the Compensation Committee. Stock-based compensation was $0.7 and $0.8 for the three months ended March 31, 2022 and April 30, 2021, respectively. Unrecognized compensation cost related to restricted stock awards made by the Company was $6.0 at March 31, 2022.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense was $0.1 and $0.1 for the three months ended March 31, 2022 and April 30, 2021, respectively, and was comprised primarily of state and local taxes. The Company has a valuation allowance against its deferred tax balances and, as a result, it was unable to recognize a tax benefit on its year-to-date losses. In response to the COVID-19 pandemic, many governments have enacted measures to provide aid and economic stimulus. These measures 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 $2.0 through March 31, 2022. This deferral is included on the condensed consolidated balance sheet in accrued liabilities. The payment is due by 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	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	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 Rocky Mountains Region (the Bakken, Williston, DJ, Uinta, Powder River, Piceance and Niobrara basins), the Southwest Region (the Permian Basin and the Eagle Ford Shale) 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"). As a result, the Company has three reportable segments. The following table presents revenues and operating loss by reportable segment: Three Months Ended March 31, 2022 April 30, 2021 Revenues Rocky Mountains $ 43.3 $ 24.3 Southwest 51.9 38.0 Northeast/Mid-Con 57.1 28.5 Total revenues 152.3 90.8 Operating loss Rocky Mountains (0.8) (7.1) Southwest (0.4) (7.5) Northeast/Mid-Con (0.8) (6.8) Corporate and other (9.5) (7.5) Total operating loss (11.5) (28.9) Interest expense, net 8.3 7.8 Loss before income tax $ (19.8) $ (36.7) The following table presents revenues by service offering by reportable segment: Three Months Ended March 31, 2022 April 30, 2021 Rocky Southwest Northeast Total Rocky Southwest Northeast Total Drilling $ 3.7 $ 23.6 $ 15.6 $ 42.9 $ 1.1 $ 14.5 $ 9.2 $ 24.8 Completion 25.5 17.5 33.9 76.9 14.2 16.1 14.4 44.7 Production 9.0 5.7 3.2 17.9 5.6 4.0 2.4 12.0 Intervention 5.1 5.1 4.4 14.6 3.4 3.4 2.5 9.3 Total revenues $ 43.3 $ 51.9 $ 57.1 $ 152.3 $ 24.3 $ 38.0 $ 28.5 $ 90.8 The following table presents capital expenditures by reportable segment: Three Months Ended March 31, 2022 April 30, 2021 Rocky Mountains $ 1.6 $ 0.7 Southwest 1.6 0.8 Northeast/Mid-Con 2.6 0.7 Corporate and other — — Total capital expenditures $ 5.8 $ 2.2 The following table presents total assets by segment: March 31, 2022 December 31, 2021 Rocky Mountains $ 128.3 $ 127.7 Southwest 133.5 134.4 Northeast/Mid-Con 98.2 97.6 Total 360.0 359.7 Corporate and other 19.5 28.0 Total assets $ 379.5 $ 387.7

Net Loss Per Common Share

Net Loss Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Common Share	Net Loss Per Common Share Basic net loss per common share is computed using the weighted average common shares outstanding during the period. 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 March 31, 2022 and April 30, 2021, 0.4 and 0.4 million shares of the Company’s common stock, 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 months ended March 31, 2022 and April 30, 2021 are as follows: Three Months Ended March 31, 2022 April 30, 2021 Net loss $ (19.9) $ (36.8) (Shares in millions) Basic weighted average common shares 10.1 8.3 Effect of dilutive securities - dilutive securities — — Diluted weighted average common shares 10.1 8.3 Basic net loss per common share $ (1.98) $ (4.41) Diluted net loss per common share $ (1.98) $ (4.41)

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
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 2022 or for any future period. The information included in these condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and accompanying notes included in the Company’s 2021 Transition Report on Form 10-K filed with the SEC on March 14, 2022. 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.
Accounting Standards Updates not yet Adopted and Recently Adopted Accounting Standard Update	Accounting Standard Updates not yet Adopted In March 2020, FASB issued accounting standard 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 consolidated financial statements. The financial services industry and market participants continue to work towards transitioning away from interbank offered rates ("IBOR"), including the LIBOR, which are in the process of being phased out. This phasing out will have an impact on the ABL Facility (defined below) that utilizes LIBOR as a benchmark. To transition from IBOR Reference Rate, the ABL Facility agreement between the Company and JP Morgan Chase & Co. ("JP Morgan"), which as of March 31, 2022 has borrowings outstanding of $30.0, will be amended to adopt an alternate rate effective on or before June 30, 2023. Until the ABL Facility agreement is amended to allow for Secured Overnight Financing Rate ("SOFR") as the replacement to LIBOR, the Alternate Base Rate ("ABR"), is the default rate that JP Morgan has agreed to use as the LIBOR replacement. In June 2016, FASB issued Accounting Standards Update (“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 March 31, 2022 had a third-party accounts receivable balance, net of allowance, of $107.0. Topic 326 is not expected to have a material impact on the Company’s condensed consolidated financial statements. Recently Adopted Accounting Standard Updates 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 fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company early adopted Topic 740 in the first quarter of fiscal year 2022. This adoption did not have a material impact on the Company’s condensed consolidated financial statements.

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: March 31, 2022 December 31, 2021 Spare parts $ 15.9 $ 14.7 Plugs 6.0 6.0 Consumables 2.8 2.4 Other 2.4 2.0 Subtotal 27.1 25.1 Inventory reserve (2.8) (2.7) Total inventories $ 24.3 $ 22.4

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Useful Life (Years) March 31, 2022 December 31, 2021 Land, buildings and improvements 1 — 40 $ 38.9 $ 38.9 Machinery 1 — 20 215.2 211.4 Furniture and equipment 1 — 15 181.0 179.9 ROU assets - finance leases 1 — 20 20.3 16.5 Total property and equipment 455.4 446.7 Less accumulated depreciation 290.8 280.1 164.6 166.6 Construction in progress 3.8 4.4 Property and equipment, net $ 168.4 $ 171.0

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Long-term Debt	Outstanding long-term debt consisted of the following: March 31, 2022 December 31, 2021 Senior Secured Notes $ 250.0 $ 250.0 ABL Facility 30.0 30.0 Total principal outstanding 280.0 280.0 Unamortized debt issuance costs 4.9 5.2 Total debt, net $ 275.1 $ 274.8

Fair Value Information (Tables)

Fair Value Information (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Liabilities Measured on Recurring Basis	The following tables present the placement in the fair value hierarchy of the Notes, based on market prices for publicly traded debt, as of March 31, 2022 and December 31, 2021: Fair value measurements at reporting date using March 31, 2022 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 166.3 $ — $ 166.3 $ — Total Senior Secured Notes $ 166.3 $ — $ 166.3 $ — Fair value measurements at reporting date using December 31, 2021 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 136.3 $ — $ 136.3 $ — Total Senior Secured Notes $ 136.3 $ — $ 136.3 $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Revenues and Other Financial Information by Business Segment	The following table presents revenues and operating loss by reportable segment: Three Months Ended March 31, 2022 April 30, 2021 Revenues Rocky Mountains $ 43.3 $ 24.3 Southwest 51.9 38.0 Northeast/Mid-Con 57.1 28.5 Total revenues 152.3 90.8 Operating loss Rocky Mountains (0.8) (7.1) Southwest (0.4) (7.5) Northeast/Mid-Con (0.8) (6.8) Corporate and other (9.5) (7.5) Total operating loss (11.5) (28.9) Interest expense, net 8.3 7.8 Loss before income tax $ (19.8) $ (36.7)
Schedule of Revenues by Service Offering by Reportable Segment	The following table presents revenues by service offering by reportable segment: Three Months Ended March 31, 2022 April 30, 2021 Rocky Southwest Northeast Total Rocky Southwest Northeast Total Drilling $ 3.7 $ 23.6 $ 15.6 $ 42.9 $ 1.1 $ 14.5 $ 9.2 $ 24.8 Completion 25.5 17.5 33.9 76.9 14.2 16.1 14.4 44.7 Production 9.0 5.7 3.2 17.9 5.6 4.0 2.4 12.0 Intervention 5.1 5.1 4.4 14.6 3.4 3.4 2.5 9.3 Total revenues $ 43.3 $ 51.9 $ 57.1 $ 152.3 $ 24.3 $ 38.0 $ 28.5 $ 90.8
Capital Expenditures by Reportable Segment	The following table presents capital expenditures by reportable segment: Three Months Ended March 31, 2022 April 30, 2021 Rocky Mountains $ 1.6 $ 0.7 Southwest 1.6 0.8 Northeast/Mid-Con 2.6 0.7 Corporate and other — — Total capital expenditures $ 5.8 $ 2.2
Total Assets by Reportable Segment	The following table presents total assets by segment: March 31, 2022 December 31, 2021 Rocky Mountains $ 128.3 $ 127.7 Southwest 133.5 134.4 Northeast/Mid-Con 98.2 97.6 Total 360.0 359.7 Corporate and other 19.5 28.0 Total assets $ 379.5 $ 387.7

Net Loss Per Common Share (Tabl

Net Loss Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and April 30, 2021 are as follows: Three Months Ended March 31, 2022 April 30, 2021 Net loss $ (19.9) $ (36.8) (Shares in millions) Basic weighted average common shares 10.1 8.3 Effect of dilutive securities - dilutive securities — — Diluted weighted average common shares 10.1 8.3 Basic net loss per common share $ (1.98) $ (4.41) Diluted net loss per common share $ (1.98) $ (4.41)

Description of Business and B_3

Description of Business and Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2022service_facility
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of service facilities	60

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable	$ 107	$ 103.2
Asset based revolving line of credit | ABL Facility
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amount outstanding	$ 30

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Spare parts	$ 15.9	$ 14.7
Plugs	6	6
Consumables	2.8	2.4
Other	2.4	2
Inventory, gross	27.1	25.1
Inventory reserve	(2.8)	(2.7)
Total inventories	$ 24.3	$ 22.4

Inventories, Net - Narrative (D

Inventories, Net - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory reserve	$ 2.8	$ 2.7

Property and Equipment, Net (Su

Property and Equipment, Net (Summary of Property and Equipment) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
ROU assets - finance leases	$ 20.3	$ 16.5
Less accumulated depreciation	290.8	280.1
Property and equipment, net	168.4	171
Depreciable Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	455.4	446.7
Property and equipment, net	164.6	166.6
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 38.9	38.9
Land, buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Land, buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	40 years
Machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 215.2	211.4
Machinery | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Machinery | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	20 years
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 181	179.9
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	15 years
ROU assets - finance leases | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
ROU assets - finance leases | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	20 years
Construction in Progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3.8	$ 4.4

Property and Equipment, Net (Na

Property and Equipment, Net (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)service_facility	Apr. 30, 2021USD ($)
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 12.1	$ 15
Amortization of ROU assets	1.5	$ 0.3
Assets held-for-sale	$ 1.9
Number of operational facilities | service_facility	2

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long term debt, gross	$ 280	$ 280
Unamortized debt issuance costs	4.9	5.2
Total debt, net	275.1	274.8
Senior Secured Notes 11.5 Percent Due 2025
Debt Instrument [Line Items]
Long term debt, gross	250	250
Total debt, net	245.1
ABL Facility
Debt Instrument [Line Items]
Long term debt, gross	$ 30	$ 30

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Long term debt outstanding	$ 275,100,000	$ 274,800,000
Accrued interest	12,300,000	$ 5,000,000
Asset based revolving line of credit
Debt Instrument [Line Items]
Outstanding letter of credit amount	5,000,000
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%	11.50%
Long term debt outstanding	$ 245,100,000
Accrued interest	$ 12,000,000
ABL Facility
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	5.00%
Accrued interest	$ 300,000
ABL Facility | Asset based revolving line of credit
Debt Instrument [Line Items]
Revolving credit facility	$ 100,000,000
Fixed charge coverage ratio	1
Liquidity threshold amount	$ 10,000,000
Liquidity threshold, percent of borrowing base	15.00%
Amount outstanding	$ 30,000,000
Current borrowing capacity	47,600,000
Net borrowing capacity	35,200,000
Holdback amount	$ 12,400,000

Fair Value Information (Details

Fair Value Information (Details) $ in Millions	Mar. 31, 2022USD ($)
Asset based revolving line of credit | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding	$ 30

Fair Value Information - Schedu

Fair Value Information - Schedule of Senior Secured Notes (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 166.3	$ 136.3
Level 1 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0	0
Level 2 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	166.3	136.3
Level 3 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 0	$ 0
Senior Secured Notes 11.5 Percent Due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, stated interest rate (as a percent)	11.50%	11.50%
Senior Secured Notes 11.5 Percent Due 2025 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 166.3	$ 136.3
Senior Secured Notes 11.5 Percent Due 2025 | Level 1 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0	0
Senior Secured Notes 11.5 Percent Due 2025 | Level 2 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	166.3	136.3
Senior Secured Notes 11.5 Percent Due 2025 | Level 3 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 0	$ 0

Commitments, Contingencies an_2

Commitments, Contingencies and Off-Balance Sheet Arrangements (Details) - USD ($) $ in Millions	Mar. 09, 2021	Jan. 31, 2021
Positive Outcome of Litigation
Loss Contingencies [Line Items]
Gain contingency	$ 4.6	$ 4.6

Stockholders' Deficit - Narrati

Stockholders' Deficit - Narrative (Details) - USD ($)	Jun. 14, 2021	Mar. 31, 2022	Apr. 30, 2021	Dec. 31, 2021	Feb. 12, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01	$ 0.01
Shares reserved for issuance (in shares)					632,051
Share based compensation expense, net		$ 700,000	$ 800,000
Unrecognized compensation cost		$ 6,000,000
At The Market Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)	$ 0.01
Maximum consideration on transaction	$ 50,000,000
Commission fee	3.00%
Number of shares issued in transaction (in shares)		695,377
Consideration received on transaction		$ 3,700,000
Payments of stock issuance costs		100,000
At The Market Offering | Other Current Assets
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consideration received on transaction		$ 600,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
Income Tax Examination [Line Items]
Income tax expense	$ 0.1	$ 0.1
Accrued Liabilities
Income Tax Examination [Line Items]
FICA tax payments, CARES Act	$ 2

Segment Reporting (Revenues and

Segment Reporting (Revenues and Operating Losses by Reportable Segment) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)segment	Apr. 30, 2021USD ($)
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments | segment	3
Revenues	$ 152.3	$ 90.8
Operating loss	(11.5)	(28.9)
Interest expense, net	8.3	7.8
Loss before income tax	(19.8)	(36.7)
Corporate And Reconciling Items
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating loss	(9.5)	(7.5)
Rocky Mountains
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	43.3	24.3
Rocky Mountains | Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating loss	(0.8)	(7.1)
Southwest
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	51.9	38
Southwest | Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating loss	(0.4)	(7.5)
Northeast/Mid-Con
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	57.1	28.5
Northeast/Mid-Con | Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating loss	$ (0.8)	$ (6.8)

Segment Reporting (Revenues by

Segment Reporting (Revenues by Service Offering by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 152.3	$ 90.8
Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	43.3	24.3
Southwest
Segment Reporting Information [Line Items]
Revenues	51.9	38
Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	57.1	28.5
Drilling
Segment Reporting Information [Line Items]
Revenues	42.9	24.8
Drilling | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	3.7	1.1
Drilling | Southwest
Segment Reporting Information [Line Items]
Revenues	23.6	14.5
Drilling | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	15.6	9.2
Completion
Segment Reporting Information [Line Items]
Revenues	76.9	44.7
Completion | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	25.5	14.2
Completion | Southwest
Segment Reporting Information [Line Items]
Revenues	17.5	16.1
Completion | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	33.9	14.4
Production
Segment Reporting Information [Line Items]
Revenues	17.9	12
Production | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	9	5.6
Production | Southwest
Segment Reporting Information [Line Items]
Revenues	5.7	4
Production | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	3.2	2.4
Intervention
Segment Reporting Information [Line Items]
Revenues	14.6	9.3
Intervention | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	5.1	3.4
Intervention | Southwest
Segment Reporting Information [Line Items]
Revenues	5.1	3.4
Intervention | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	$ 4.4	$ 2.5

Segment Reporting (Capital Expe

Segment Reporting (Capital Expenditures by Reportable Segment) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 5.8	$ 2.2
Corporate And Reconciling Items
Property, Plant and Equipment [Line Items]
Capital expenditures	0	0
Rocky Mountains | Operating Segments
Property, Plant and Equipment [Line Items]
Capital expenditures	1.6	0.7
Southwest | Operating Segments
Property, Plant and Equipment [Line Items]
Capital expenditures	1.6	0.8
Northeast/Mid-Con | Operating Segments
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 2.6	$ 0.7

Segment Reporting (Total Assets

Segment Reporting (Total Assets by Reportable Segment) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 379.5	$ 387.7
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	360	359.7
Corporate And Reconciling Items
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	19.5	28
Rocky Mountains | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	128.3	127.7
Southwest | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	133.5	134.4
Northeast/Mid-Con | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 98.2	$ 97.6

Net Loss Per Common Share - Nar

Net Loss Per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
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 (in shares)	0.4	0.4

Net Loss Per Common Share - Com

Net Loss Per Common Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (19.9)	$ (36.8)
Basic weighted average common shares (in shares)	10.1	8.3
Effect of dilutive securities - dilutive securities (in shares)	0	0
Diluted weighted average common shares (in shares)	10.1	8.3
Basic net loss per common share (in dollars per share)	$ (1.98)	$ (4.41)
Diluted net loss per common share (in dollars per share)	$ (1.98)	$ (4.41)

Uncategorized Items - klxe-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]