Key Energy Services is an American oilfield services company.
Background The company, established in 1977, 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; Fort Lupton and Grand Junction, Colorado; Lafayette and Shreveport, Louisiana; and Arnoldsburg, West Virginia. Key has over 175 service locations (known as “districts”) in the US. Globally, Key Energy Services has operations in the Middle East, Russia, Mexico, Colombia and Ecuador.
Business Segments Service offerings include:
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 and notable acquisitions While Key Energy traces its roots to New Hope, Pennsylvania, operating under the name The Yankee Companies, the company's current name is a legacy of Yale E. Key, a West Texas oilman from Midland, Texas, who started his oilwell service business in the 1940s. After his death in the 1980s, his company, Yale E. Key, Inc., was sold to the Yankee Companies. As a result of the continued acquisition of oilwell service companies, the Yankee Companies changed its name to Key Energy in the 1990s. Key Energy has grown through over 1002 acquisitions. In 2016, the company filed for Chapter 11 bankruptcy protection. Key Energy Services, Inc. became a non-public (private) company on December 14, 2020 (Form 15, U.S. Securities and Exchange Commission).
Notable historical acquisitions of Key Energy Services, Inc. are listed below.
Year Company Location 1993 Odessa Exploration Texas 1994 Oilwell fishing tools TX 1995 Clint Hurt and Associates Texas 1996 WellTech OK, MI, PA, WV and CA Woodward Oil Service Oklahoma 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 Texas 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 2003 Lea Fishing Tools (oilfield services) NM 2004 Fleet Cementers CA & TX 2007 Moncla Companies LA, MS & TX Advanced Measurements Incorporated (AMI) CanadaKings Oil ToolsCA 2008Hydra-Walk, Inc.OKLeader Energy (US operations)MI, ND, WV
See also List of oilfield service companies
External links Key Energy Services http://www.rigzone.com/news/article.asp?a_id=50445 http://www.allbusiness.com/banking-finance/financial-markets-investing/8907145-1.html
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