Key Energy Services (KEG:NYSE) is the largest rig-based well service company in the world.You could say the main job for a company like Key is to "keep the oil & gas flowing." Once a well is drilled, that well has to be maintained and serviced throughout its life. This is what Key does.It's a great business because you always have clients and you always get paid. The world is not going to give up its oil and gas addiction any time soon... and as long as we need fossil fuels, we'll need companies like Key.Being the largest well service company in the world, Key also has one of the most attractive client rosters in the world. The company's client list is populated with blue-chip names like BP, ExxonMobil, ConocoPhillips, and others.Key's operations are primarily in the U.S., but the company is also expanding in energy-rich places like Russia and Mexico. The rising trend of NOCs - nationalized oil and gas companies - is good news for a player like Key.While oil rich governments are happy to take over the means of production and shut out the oil majors, it's often the case that the host country is short on technology and expertise. So they invite in savvy outsiders like Key to come service the wells (and to provide other high-margin services on the side while they're at it, like equipment rental).Today's Taipan Daily
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