Key Energy Services Provides June 2011 Activity Data and Second Quarter 2011 Conference Call Information

HOUSTON, July 14, 2011 /PRNewswire/ -- Key Energy Services, Inc. (NYSE: KEG) provides June 2011 activity data.

Key's Chairman, President, and CEO, Dick Alario, commented, "Rig Services revenue per work day was up 6% in June compared to May, and we expect to report revenue per workday up in excess of 10% in the second quarter 2011 compared to the first quarter.  Generally, we continue to see improving revenue per job, per rig hour, and per employee as we continue to improve our pricing and strategically shift our focus toward more complex, more revenue intensive, completion-related work, especially in the unconventional shale markets."

Alario continued, "Internationally, rig hours per day increased 7% in the second quarter compared to the first quarter, and year-to-date rig hours per day were up 12% compared to the same period in 2010."

Second Quarter 2011 Conference Call Information

Key Energy Services will release second quarter 2011 financial results after market close on Thursday, July 28, 2011.  Key management will host a conference call to discuss its second quarter 2011 financial results on Friday, July 29, 2011 at 10:00 a.m. CDT.  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 65117234.  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 telephonic replay of the conference call will be available on Friday, July 29, 2011, 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 65117234.  The replay will also be accessible at www.keyenergy.com under "Investor Relations" for a period of at least 90 days.

About Key Energy Services

Key Energy Services is the largest onshore, rig-based well servicing contractor based on the number of rigs owned. 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, Colombia, the Middle East, Russia, and Argentina.

Forward-Looking Statements

This press release contains "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's current expectations, estimates and projections about Key, its industry, its management's beliefs and certain assumptions made by management, and include statements regarding expected increases in activity.  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.

Readers are cautioned that any 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 affecting the revenue per workday, including shifts in market demand; risk that revenue per workday will decrease; risks that Key's customers may not increase, or may even decrease, their activity levels; risks relating to changes in the demand for or the price of oil and natural gas; risks relating to increases in costs of labor, fuel, equipment and supplies employed and used in Key's businesses; risks relating to compliance with environmental, health and safety laws and regulations, as well as actions by governmental and regulatory authorities; risks affecting Key's foreign operations, including risks related to forecasted increases of activity levels in Mexico or fulfillment by PEMEX of the new workover contract, 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 execute its capital expenditure program and/or that any such capital expenditure investments, if made, will not generate adequate returns; and other risks affecting Key's ability to maintain or improve operations, including its ability to maintain prices for services under market pricing pressures, weather risks, and the impact of potential increases in general and administrative expenses.

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, readers 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, readers should review carefully reports and documents that Key files periodically with the Securities and Exchange Commission.

Contact: Gary Russell
713-651-4434

SOURCE Key Energy Services, Inc.