Key Energy Services
Type Public (NYSEKEG)
Industry Oilfield Services
Founded 1977
Headquarters Operates internationally. Incorporated in Maryland with principal offices in Houston and Midland.
Key people Chairman, President & CEO: Richard J. Alario
CFO: T.M. "Trey" Whichard III
SVP & Chief Financial Officer: Newton W. "Trey" Wilson III
SVP & Chief People Officer: Kim B. Clarke
Senior Vice President of Product Development, Strategic Planning and Quality: Don Weinheimer
Senior Vice President, General Counsel and Secretary: Kimberly R. Frye
Products Well Services, Fishing & Rental Services, Coiled Tubing, Fluid Management
Employees 7,500 worldwide
Website www.keyenergy.com

Key Energy Services, established in 1977, is an oilfield services company.

Background

The company provides well services and is based in Houston, Texas with other offices in Midland, Texas and regional offices in Bakersfield, California; Farmington, New Mexico; Casper, Wyoming; El Reno, Oklahoma; Lafayette and Shreveport, Louisiana; and Arnoldsburg, West Virginia. Key has over 175 service locations (known as “districts”) in the US; seven in Argentina and one in Mexico (Poza Rica).

Business Segments

Rig Services
Rig-based well-servicing for workover or re-entries on existing wells, such as:

  • New well completions
  • PNA (Plug and Abandonment)
  • Stimulation of existing wells with declining production
  • Horizontal or directional drilling
  • SmartTongsm Rod Connection Service

Fluid Management Services
Oilfield transportation services (often referred to as “Trucking”)

Fishing Services
Process to recover lost or stuck equipment in the well bore utilizing a "fishing tool” or “jar”. The FRS operations also cut windows in well sidewall casings for horizontal re-entries.

Rental Services
Ancillary equipment such as generators, drill collars as well as proprietary tools such as the Hydra-Walkr automated pipe handling system.

Coiled Tubing Services (CTS)
Provides fracing aka Hydraulic fracturing, acidizing and cementing services.

History & Notable Acquisitions

While Key Energy traces its roots to New Hope, PA, operating under the name The Yankee Companies, the company’s current name is a legacy of Yale E. Key, a West Texas oilman. Key Energy has grown through over 1002of acquisitions. The most notable ones are listed below.

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
Hydra-Walk, Inc. OK
Leader Energy (US operations) MI, ND, WV

See also

External links