Key Energy Services, Inc. Company News

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Key Energy Services Names New President, CEO
Thursday, March 26, 2020J. Marshall Dodson began serving as the company's Interim CEO in December 2019.

Filing Bankruptcy, Key Energy Expects to Remain Public Company
Thursday, August 25, 2016Key Energy is the latest in a long line of oilfield service companies to file for a reorganization of its debts and assets, extending the bankruptcy streak that's burdened oil and gas for almost two years.

Key Completes Acquisition of Edge, Summit Oilfield Services
Monday, August 08, 2011Key Energy completed the previously announced acquisition of Edge Oilfield Services and Summit Oilfield Services.

Key Extends Eagle Ford Footprint with Acquisitions
Thursday, July 14, 2011Key Energy has reached a definitive agreement to acquire Edge and Summit for consideration of approximately $300MM.

Key Energy Welcomes New Senior VP
Tuesday, July 13, 2010Key Energy appointed Tommy Pipes to the new position of Senior Vice President - Industry Relations.

Key Energy Appoints Senior VPs of Industry Relations, Rig Services
Friday, July 02, 2010Key Energy appointed Tommy Pipes to the new position of Senior Vice President – Industry Relations and Jeff Skelly has joined Key as Senior Vice President – Rig Services.

Key Energy Services Forms JV, Enters Middle East Market
Monday, March 08, 2010Key Energy Services has formed a joint venture with AlMansoori Specialized Engineering of Abu Dhabi, United Arab Emirates.

Key Energy Closes 2nd Investment in Russian Oilfield Service Co
Thursday, September 03, 2009Key Energy Services has consummated the second tranche of its investment in Russian oilfield services company OOO GeoStream Services Group effective September 1, 2009.

Key Energy Services Appoints New Senior VP, CFO
Thursday, March 26, 2009Key Energy Services announced that T.M. "Trey" Whichard, III has been hired as Senior Vice President and Chief Financial Officer.

Key Energy Services' CFO Steps Down
Tuesday, January 27, 2009William M. Austin, Senior Vice President and Chief Financial Officer of Key Energy Service, has decided to join the turnaround and restructuring group at Alvarez & Marsal. Marshall Dodson will step in as the principal financial officer.

Key Energy Extends Exchange Offer
Wednesday, September 24, 2008Key Energy Services has extended the expiration date with respect to its previously announced offer to exchange $425,000,000 of its 8 3/8% Senior Notes due 2014.

Key Bags $46MM Workover Contract from Pemex
Thursday, September 04, 2008Key Services' Mexican subsidiary was awarded a 24-month contract valued at $68 million by Pemex to provide field production solutions and well workover products and services.

Key Energy Invests $35MM in Geostream for 50% Equity Interest
Friday, August 29, 2008Key Energy Services agreed to invest approximately $35 million in Geostream Services Group in exchange for a fifty percent (50%) equity interest in the Company.

Key Energy Names Kimberly Frye as New Senior VP & General Counsel
Wednesday, July 23, 2008Key Energy Services announced that Kimberly R. Frye has been promoted to Senior Vice President and General Counsel. Ms. Frye joined the Company in October 2002 and has served as its Associate General Counsel.

Key Energy Stays Active in December 2007
Monday, January 14, 2008In the 19 working days for December 2007, Key Energy Services Inc. logged 201,476 rig hours and 187,973 trucking hours.

Key Energy Services Acquires King Oil Tools
Monday, December 10, 2007Key has acquired the well service assets of Kings Oil Tools in California, including 36 marketed well service rigs, 10 stacked well service rigs and related support equipment.

Key Energy Closes $400 Million Credit Facility
Friday, November 30, 2007Key Energy Services, on November 29, 2007, closed a new $400 million five-year Senior Secured Revolving Credit Facility.

Key Energy Names New Directors
Monday, October 01, 2007Key Energy's Lead director says they are excited about the significant experience that both appointees will bring and that their appointment to the Board is timely as the Company prepares for its NYSE listing next week.

Key Energy Acquires Moncla and Advanced Measurements
Thursday, September 20, 2007Key Energy Services has entered into a definitive agreement to acquire the Moncla Companies. The Company also announced that it has acquired Advanced Measurements, Inc.

Key Energy Wins $45.8 Million Contract from Pemex
Friday, February 02, 2007Key Energy Services has been awarded a 22-month contract valued at $45.8 million by Pemex to provide field production solutions and well workover services.

Key Energy Selects Grant Thornton as Auditor
Thursday, December 07, 2006Key Energy Services, Inc. said late Wednesday that it has engaged Grant Thornton LLP to serve as the Company's registered independent public accounting firm for the audit of the Company's consolidated financial statements for fiscal 2004-2006.

Key Energy Lenders Amend Credit Facility
Sunday, November 26, 2006Key Energy Services, Inc. reports that the lenders under its $547.25 million Senior Credit Facility have amended the Facility pursuant to the Company's previously announced amendment request.

Key Energy Services Opens 'Super Yard' in Barnett Shale Area
Wednesday, November 22, 2006Key Energy Services, Inc. has opened a fully integrated multi-service facility in Cleburne, Texas, that will offer a complement of production services as a natural extension of Key's core business of well services.

Moncla Marine Buys Barge Rigs from Key Energy Services
Thursday, March 02, 2006Moncla Marine purchased two barge rigs from Key Energy Services Inc., bringing Moncla's fleet of barge rigs to six.

Key Energy Seeks Credit Facility Waiver
Wednesday, October 26, 2005Key Energy Services is seeking a waiver under its $547.25 million Senior Credit Facility to increase the limit on capital expenditures allowed under the Facility.

Key Energy Purchases Several New Well Service Rigs
Thursday, October 20, 2005Key Energy Services has entered into an agreement to purchase 30 new-generation, foreign manufactured well service rigs.

Key Energy Completes Sale Of Land Drilling Assets
Tuesday, January 18, 2005Key Energy Services has completed the sale of the majority of its U.S. land drilling assets to Patterson-UTI Energy, Inc. for approximately $62 million in cash.

Key Energy Receives Extension from the NYSE
Monday, January 03, 2005Key Energy Services reports that the New York Stock Exchange has granted the Company an extension to file its Form 10-K for the year ended December 31, 2003 up to March 31, 2005, subject to reassessment on an ongoing basis.

Patterson-UTI to Acquire Land Operations from Key Energy
Wednesday, December 08, 2004Patterson-UTI Energy has signed a definitive agreement to acquire the U.S. land drilling assets of Key Energy Services.

Key Energy Shares Fall Due to Delayed SEC Filing
Monday, March 29, 2004Key Energy shares fell as much as 17 percent after the Midland, Texas-based firm delayed a filing with the Securities and Exchange Commission for fiscal 2003 due to its continuing financial review.

Key Energy to Sell Non-Core Oil & Gas Properties
Tuesday, August 12, 2003Key Energy Services has entered into an agreement to sell all of its oil and gas properties for approximately $19.7 million in cash.