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S-4/A
KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
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In March of 1995, OEI entered into a credit agreement with Norwest (see Note 5).
As part of this arrangement, seven individuals, some of whom are officers and/or
directors of Key,  pledged  approximately  $2.7 million in  collateral to secure
OEI's credit facility.  As compensation  for this, Key paid these  individuals a
one-time fee equal to 1% of the collateral each individual placed and will pay a
monthly fee in the amount of 3% (annual rate) of the collateral  pledged.  As of
December  31, 1995,  Norwest  waived the pledge of  collateral  and released the
collateral to the seven individuals who had pledged it.

14.  BUSINESS SEGMENT INFORMATION

Information about Key's operations by business segment is as follows:


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                                                                     Seven Months         Five Months
                                 Year Ended        Year Ended            Ended              Ended
                                  June 30,          June 30,           June 30,          November 30,
                                    1995              1994               1993               1992
                               ---------------------------------------------------------------------
                                                              (in thousands)
  <S>                         <C>               <C>               <C>                  <C>   

   Revenues:
   Oil and gas                 $    2,334         $  1,936          $   -                 $  -
   Oil field services              40,105           32,616              14,304               10,156
   Oil and gas well drilling
      services                      1,932            -                   -                   -
   Other                              318               69                 (48)                 277
                               ------------------------------------------------ -------------------
                                  $44,689          $34,621             $14,256              $10,433
                               ====================================================================

   Income before reorganization item, income taxes
      and extraordinary items:
   Oil and gas                   $    941         $    814         $     -              $      -
   Oil field services               4,105            2,823               2,987                1,981
   Oil and gas well drilling
      services                        367             -                   -                    -
   Interest expense                (1,478)            (830)               (276)                (464)
   General corporate                  607)            (512)             (1,587)              (1,117)
                               ---------------------------------------------------------------------
                                  $ 3,328          $ 2,295              $1,124                $ 400
                               =====================================================================

   Identifiable assets:
   Oil and gas                    $ 8,289          $ 5,258         $      -             $      -
   Oil field services              33,516           22,022              15,906               16,109
   Oil and gas well drilling
      services                      3,160           -                     -                     -
   General corporate                  278              815
                              ----------------------------------------------------------------------
                                  $45,243          $28,095             $15,906              $16,109
                              ======================================================================

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