Key Energy Services News

Acting Maritime Administrator, Paul “Chip” Jaenichen will open the “Winds of Change in Shipping” conference being hosted by NAMEPA (North American Marine Environment Protection Association) in Houston along with the WGMA (West Gulf Maritime Association) on February 19, 2014. The next day, February 20th, NAMEPA is partnering with NOIA (National Ocean Industries Association) to present the “Winds of Change in Offshore Oil and Gas”. Adding even more luster to this period is the inaugural Lloyd’s List North American Awards Dinner on February 19th, where winners of 17 categories will be presented.

AlMansoori Petroleum Services, a subsidiary of AlMansoori Specialized Engineering, regional provider of oilfield services in the Middle East, has signed a joint venture agreement with American-based onshore energy production services company Key Energy Services. The joint venture will bring several new services to AlMansoori’s capabilities in coil tubing, workover rigs, pumping/cementing, fracturing and acidizing. The joint venture will see Houston-born Key Energy Services establish a base in the Middle East for the first time and signifies AlMansoori’s expansion into the region, it will target heavily in 2010.

Key Energy Services, Inc. (NYSE:KEG) announced on Jan. 26 that William M. Austin, Senior Vice President and Chief Financial Officer has decided to join the turnaround and restructuring group at Alvarez & Marsal. He will leave Key on February 6, 2009. Marshall Dodson, who is the Company's Vice President and Chief Accounting Officer, will assume the additional role of the Company's principal financial officer until the Board elects a new Chief Financial Officer. During this interim period, Mr. Dodson will report directly to the President and Chief Executive Officer, Dick Alario. Commenting on the announcement, Mr. Alario said, "Bill's experience in special situations was of tremendous value to Key as the Board set out to re-orient the Company in 2004.