Key Energy Services
American oilfield services company
Key Energy Services is an American oilfield services company.
01Background
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.
02Business 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.
03History 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) | Canada | |
| Kings Oil Tools | CA | |
| 2008 | Hydra-Walk, Inc. | OK |
| Leader Energy (US operations) | MI, ND, WV |
Sources and credits
This article is adapted from the Wikipedia article “Key Energy Services”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
Images, from Wikimedia Commons:
- KES logo RGB.png by Unknown author, Fair use
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