Key Energy Services Provides September Activity Data and Announces Date of Third Quarter Earnings Conference Call

October 15, 2009 6:44 PM EDT

HOUSTON, Oct. 15 /PRNewswire-FirstCall/ -- Key Energy Services, Inc. (NYSE: KEG) announced today its rig and trucking hours for the month of September 2009. The activity for the month and comparable periods are as follows:

                                         For the month ended
                                         -------------------
                        September  30,        August 31,       September  30,
                             2009                2009               2008
                        --------------        ----------       --------------
    Working Days              21                  21                 21
    Rig Hours               138,948             137,881            231,977
    Trucking Hours          130,451             132,769            204,008


    The company calculates working days as total weekdays for the month less
    any company holidays that occur that month.  For the month of October
    2009, there are 22 working days.

Chairman, President and CEO Dick Alario commented, "Key's September rig hours increased approximately 1% from last month. Our international operations were up 2% and our North American rig hours were flat in September compared to August despite getting off to a slow start as a result of the Labor Day holiday. Pricing remained constant throughout the month, and we experienced a more favorable job mix in rig services from the prior month with drilling and completion hours up 10% from August."

The company will hold a conference call to discuss its third quarter 2009 financial results on October 29, 2009 at 9:30 a.m. CDT. To access the call in the U.S. and Canada please dial the following number: (888) 794-4637 and ask for the "Key Energy Services Conference Call". International callers should dial (660) 422-4879. 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 on October 29, 2009, beginning at 1:00 p.m. CDT and will be available for one week. To access the replay, please call (800) 642-1687. The access code for the replay is 36015253.

About Key Energy Services

Key Energy Services is the largest provider of onshore well service rigs in the United States and one of the leading onshore, rig-based well servicing contractors in the world. The company provides a complete range of well services, including rig-based well maintenance, workover, well completion and recompletion services, fluid management services, pressure pumping services, fishing and rental services, electric wireline services and ancillary oilfield services. Key Energy Services has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Argentina and Mexico. Additionally, the company has a technology development group based in Canada and ownership interests in a drilling and production services company in Canada and a drilling and workover services and sub-surface engineering and modeling company in the Russian Federation.

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. These forward-looking statements are based on our current expectations, estimates and projections about the company, our industry, our management's beliefs and certain assumptions made by management. Whenever possible, we have identified these "forward-looking statements" 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 our services, including the decline and instability of commodity prices, continued decreases in the capital budgets of our customers, and the impact of continuing periods of lower activity from our larger customers, and changes in the demand for the mix of services we provide; risks associated with the prolonged economic downturn and credit market instability; risks affecting our foreign operations and investments; and risks affecting our ability to maintain or improve operations, including our ability to maintain prices for services under increasing pricing pressures, the impact of rig capacity in the market and weather risk. Other important risk factors that may affect our business, results of operations and financial condition are discussed in our 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. Because such statements involve risks and uncertainties, our actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, we also disclaim 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 the reports and documents we file periodically with the Securities and Exchange Commission.

    Contact: Trey Whichard
             (713) 651-4406

SOURCE Key Energy Services, Inc.

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