Key Energy Services

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Key Energy Services

Type	Public (NYSE: KEG)
Founded	1988
Headquarters	Operates internationally. Incorporated in Maryland with principal offices in Houston and Midland.
Key people	Chairman & CEO: Dick Alario SVP & CFO: William M. Austin SVP & General Counsel: Newton W. Wilson III SVP & Chief People Officer: Kim B. Clarke Senior Vice President of Business Development, Technology and Strategic Planning: Don Weinheimer
Industry	Oilfield Services
Products	Well Services, Fishing & Rental Services, Electric Wireline Services, Pressure Pumping Services, Fluid Services & Logistics
Employees	7,500 worldwide
Website	www.keyenergy.com

Key Energy Services, established in 1988, is a company that provides well services, oilfield transportation services, cased-hole electric wireline services, contract drilling services, pressure pumping and well stimulation services and fishing and rental services. From 1994 through 2002, Key grew primarily through a series of acquisitions¹. Key operates in all major energy-providing regions of the United States as well as in Argentina and Mexico. Key also has limited operations offshore.

Key's principal executive office is located at 1301 McKinney Street, Suite 1800, Houston, Texas 77010.

[edit] Business Segments

Well Services
Key Energy Services provides well services to oilfield operators and producers, including rig-based services, oilfield transportation services, cased-hole electric wireline services, contract drilling services and other ancillary oilfield services. These services collectively are necessary to complete, stimulate, maintain and workover oil and natural gas producing wells. During 2007, Key conducted well servicing operations onshore: in the continental United States in the following regions: Gulf Coast (including South Texas, Central Gulf Coast of Texas and South Louisiana), Permian Basin of West Texas and Eastern New Mexico, Mid-Continent (including the Anadarko, Hugoton and Arkoma Basins and the Ark-La-Tex and North Texas regions), Four Corners (including the San Juan, Piceance, Uinta and Paradox Basins), the Appalachian Basin, Rocky Mountains (including the Denver Julesberg, Powder River, Wind River, Green River and Williston Basins), and California (the San Joaquin Basin), and internationally in Argentina and Mexico.

Fishing & Rental Services
Key provides fishing and rental services to major and independent oil and natural gas production companies in the Gulf Coast, Mid-Continent and Permian Basin regions, as well as in California. Key also provided limited services offshore in the Gulf of Mexico. Fishing services involve recovering lost or stuck equipment in the wellbore utilizing a "fishing tool."

Marine Well Servicing
With the acquisition of the Moncla Companies ² in January 2008, Key now has seven workover barges for wellheads in up to 12' of water. To reach the wellhead, the barges "sink" themselves and perform workover operations. Each barge is named after a species of fish.

[edit] Notable Acquisitions

Year	Company	Location
1993	Odessa Exploration	TX
1994	Oilwell fishing tools	TX
1995	Clint Hurt and Associates	TX
1996	WellTech	OK, MI, PA and WV
	Woodward Oil Service	OK
	Brownlee Well Service/Integrity Fishing & Rental Tools	TX
	Energy Air Drilling Services	TX
	Hitwell Surveys	MI and WV
	Brooks Well Servicing	TX
	B&L Hotshot	MI
1997	Talon Trucking	OK
	Cobra Industries	NM
	Tri-State Wellhead & Valve	TX
	Kalkaska Construction/Elder Well Service	MI
	T.S.T. Parafin Service	TX	-	Diamond Well Service	OK
	Drillers	Argentina
	Shreve Well Service	WV	-	GSI Trucking & Kahlden Trucking	various
	Jeter Service	TX
1998	Dawson Production Services	TX
1999	Six minor companies, adding 93 rigs to inventory	various
2001	Three minor acquisitions, adding 34 rigs to inventory	various
2002	Q Services	TX, LA, OK, NM and Gulf of Mexico
2004	Fleet Cementers	CA & TX
2007	Moncla Companies	LA, MS & TX
	Advanced Measurements Incorporated (AMI)	Canada
2008	Kings Oil Tools	CA