Key Energy Services Provides January 2011 Activity Data

HOUSTON, Feb. 15, 2011 /PRNewswire/ -- Key Energy Services, Inc. (NYSE: KEG) provides January 2011 activity data.

Chairman, President, and CEO, Dick Alario, commented, "Customer demand in the U.S. is increasing for all our services; however, typical seasonality as well as recent severe weather have delayed fundamental activity increases.  Thus far in February, we estimate that weather has negatively impacted U.S. activity by 5% to 6% compared to January's activity level.  Meanwhile, international activity continued to improve in January, driven primarily from increases in Mexico and Colombia."

Fourth Quarter and Year-end 2010 Conference Call

Key Energy Services will release fourth quarter and year-end 2010 financial results after market close on Thursday, February 17, 2011.  Key management will host a conference call to discuss its fourth quarter and year-end 2010 financial results on Friday, February 18, 2011 at 10:00 a.m. CST. To access the call in the U.S. and Canada dial 888-794-4637. International callers should dial 660-422-4879. All callers should ask for the "Key Energy Services Conference Call" or provide the access code 30606031.  The conference call will also be available live via the internet. To access the webcast, go to www.keyenergy.com and select "Investor Relations."  A replay of the conference call will be available beginning two hours after the completion of the conference call and will remain available for one week. To access the replay, call 800-642-1687. The access code for the replay is 30606031.

About Key Energy Services

Key Energy Services is the largest provider of onshore well service rigs in the world. Key provides a complete range of well intervention services and has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Mexico, Argentina, Colombia, Russia, and the Middle East.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on Key Energy Services, Inc.'s current expectations, estimates and projections about the company, its industry, its management's beliefs and certain assumptions made by management. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates" and similar phrases.  

Such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks affecting activity levels for Key's services, including the possibility that the perceived cyclical recovery or future growth opportunities in Key's industry may not materialize and may not result in activity increases; risks that Key's customers may not increase, or may even decrease, their activity levels; risks affecting Key's foreign operations, including risks related to activity levels in Mexico, other risks affecting Key's operations in Argentina and Russia, risks associated with expanding operations in Colombia and Bahrain, and risks that Key may not be able to achieve its overall international growth and mobilization strategy; risks that Key may not be able to achieve its capital expenditure budget and/or that any such capital expenditure investments, if made, will not generate adequate returns; risks that Key may be unable to maintain or improve prices for services under market pricing pressures; risks that Key may be unable to differentiate its services through investments in oilfield services technologies; and other risks affecting Key's ability to maintain or improve operations, including weather risks.

Because such statements involve risks and uncertainties, Key's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect Key's business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, Key also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, you should review carefully reports and documents that Key files periodically with the Securities and Exchange Commission.

SOURCE Key Energy Services, Inc.