Key Energy Services Provides March 2011 Activity Data and First Quarter 2011 Conference Call Information

HOUSTON, April 12, 2011 /PRNewswire/ -- Key Energy Services, Inc. (NYSE: KEG) provides March 2011 activity data.

Chairman, President, and CEO, Dick Alario, commented, "Rig and trucking hours rebounded in March following severe weather disruptions in February.  We expect activity increases to continue in the U.S. through 2011, and we are beginning to realize incremental price improvement in each of our lines of business."

Alario continued, "The increase in international activity during March was driven primarily by gains in Mexico and Argentina.  As anticipated, we are now fully utilized in Mexico for the first time in over a year.  Brief disruptions in Bahrain to date have been offset by activity gains elsewhere, and the outlook for our international business remains positive as opportunities for further growth continue to present themselves."  

First Quarter 2011 Conference Call Information

Key Energy Services will release first quarter 2011 financial results after market close on Thursday, April 28, 2011.  Key management will host a conference call to discuss its first quarter 2011 financial results on Friday, April 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 52963673.  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, April 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 52963673.  The replay will also be accessible at www.keyenergy.com under "Investor Relations."

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

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.  

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 that Key's customers may not increase, or may even decrease, their activity levels; risks associated with recently completed transactions, including the risk that Key may be unable to achieve the benefits contemplated under these transactions;  risks related to integration of the acquired operations; 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; 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, 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.

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