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There is life on planet KEG.

I heard they sold off all their US land rig assets yesterday. This should help pay down some debt and provide a better focus on their core business. As pointed out in a note publsihed today by Buckinham Research, "land drilling by KEG was only 8% of revenues and 6% of operating profit." They add: "We like the sale as it concentrates the business on production services that have more upside." Buck has a $15.50 target price.

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