Key Energy Services Inc (KEG)

Key Energy Services, Inc. is a Maryland corporation organized in April 1977 and commenced operations in July 1978 under the name National Environmental Group, Inc. In December 1992, it become Key Energy Group, Inc. and changed its name to Key Energy Services, Inc. in December 1998. The Company provides a complete range of well services to oil companies, foreign national oil companies and independent oil and natural gas production companies, including rig-based well maintenance, workover, well completion and re-completion services, fluid management services, pressure pumping services, fishing and rental services and ancillary oilfield services. The Company operates in most major oil and natural gas producing regions of the continental United States, and it has operations in Mexico, Colombia, the Middle East, Russia and Argentina. In addition, it has a technology development and control systems business based in Canada. The Company has revised its reportable business segments as of the first quarter of 2011. The revised operating segments are U.S. and International. It also has a "Functional Support" segment associated with managing each of its reportable operating segments. The Company's domestic rig services, fluid management services, fishing and rental services, and intervention services are now aggregated within its U.S. reportable segment. Its international rig services business and its Canadian technology development group are now aggregated within its International reportable segment. The Company purchases a wide variety of raw materials, parts and components that are made by other manufacturers and suppliers for its use. Its customers include major oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company's operations are subject to various federal, state and local laws and regulations pertaining to health, safety and the environment.