Key Energy Releases December Rig Hours
January 17 2007 - 5:55PM
PR Newswire (US)
HOUSTON, Jan. 17 /PRNewswire-FirstCall/ -- Key Energy Services,
Inc. (Pink Sheets: KEGS) announced today its rig and trucking hours
for the month December 2006. Operations Update Rig hours in recent
weeks indicate that activity in oil markets is strong while
activity in certain gas markets, notably the San Juan Basin and
South Texas, has moderated. Demand for the Company's pressure
pumping services remains strong. OPERATING DATA For the month
ending December 31, November 30, December 31, 2006 2006 2005
Working Days 19 20 20 Rig Hours 201,704 202,620 209,648 Trucking
Hours 185,330 188,965 194,498 The Company calculates working days
as total weekdays for the month less any company holidays that
occur that month. For the month of January 2007, there are 22
working days. Key Energy Services, Inc. is the world's largest
rig-based well service company. The Company provides oilfield
services including well servicing, pressure pumping, fishing and
rental tools, electric wireline and other oilfield services. The
Company has operations in all major onshore oil and gas producing
regions of the continental United States and internationally in
Argentina. Certain statements contained in this news release
constitute "forward- looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about the Company, the Company's
industry, management's beliefs and certain assumptions made by
management. Whenever possible, the Company has 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
rig hours including the risk that commodity prices decline or the
risk that capital budgets from the Company's customers decrease;
risks affecting the ability of the Company to maintain or improve
operations, including the ability to maintain price increases;
possible over supply of new rigs coming into the market and weather
risks; risks associated with technology investments and the
receptiveness of customers to the new technology investments; risks
that the Company will be unable to achieve budgeted financial
targets and potential impact on operations of the Company's ongoing
process to complete 2004, 2005 and 2006 financial statements.
Because such statements involve risks and uncertainties, the actual
results and performance of the Company 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, the Company 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, readers should
review carefully reports or documents the Company files
periodically with the Securities and Exchange Commission. Contact:
John Daniel (713) 651-4300 DATASOURCE: Key Energy Services, Inc.
CONTACT: John Daniel of Key Energy Services, Inc., +1-713-651-4300
Web site: http://www.keyenergy.com/
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