Energy Stocks to Watch: Key Energy Services, Inc. (NYSE:KEG), Uranerz Energy Corp (NYSEMKT:URZ)

Key Energy Services, Inc. (NYSE:KEG) shares slid more than 12% in the first hour of trade Friday, hitting a low of $7.18 after it said it expects to report a Q2 loss on lower consolidated revenue as production-driven businesses outside of California did not see sufficient increases to offset lower activity in California.

The onshore rig-based well servicing contractor said it expects to report a loss between $0.14 to $0.15 per share, excluding goodwill and asset impairments, compared to the breakeven expected by analysts polled by Capital IQ.

Including $30 million to $35 million in estimated goodwill and other assets impairments pre-tax charges related to its operations in Russia the loss is expected to be between $0.35 and $0.38.

Meanwhile, Key Energy said that in Q2 it has incurred pre-tax expenses of approximately $5 million in connection with the previously disclosed Foreign Corrupt Practices Act investigations; redeployment and make-ready pre-tax costs of approximately $2 million in association with the previously disclosed movement of rigs from Mexico to the U.S.; and pre-tax severance costs of approximately $1 million, in association with headcount reductions, primarily in Mexico. The company plans to report Q2 results on Aug. 6. KEG trades in a 52-week range of $6.06 to $10.52.

Uranerz Energy Corp (NYSEMKT:URZ), a US-domiciled uranium company, has increased the size of its previously announced offering of units on July 16, 2014 to raise gross proceeds of $12 million. The offer consists of 9,600,000 units at a price per unit of $1.25.

Each unit will be comprised of one share of the company’s common stock and one half of one common share purchase warrant, with each whole warrant exercisable to purchase one additional common share for a period of 30 months following the closing of the offering at an exercise price of $1.60. The company said that the warrants would be transferable, however it said it would not apply for listing of the warrants on any securities exchange.

Closing of the offering is anticipated to take place on July 25, 2014. The company anticipated that the net proceeds would be used to continue development and operations of mining facilities, including wellfields, at the company’s Nichols Ranch ISR Uranium Project. Over the past 52 weeks, the company has traded between $0.80 and $1.97.