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SEC Filings

S-4/A
KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
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                                     SUMMARY

       The following is a summary of certain information contained in this Proxy
Statement--Prospectus.  This  summary  is not  intended  to be  complete  and is
qualified  in its entirety by reference  to the more  detailed  information  set
forth  elsewhere in this Proxy  Statement--Prospectus  and its  Annexes,  all of
which should be reviewed carefully.

The Companies

         Key. Key is a holding company with diversified energy operations in the
Permian  Basin area of West Texas and New Mexico.  Through  its three  operating
entities,  each of which is a wholly-  owned  subsidiary,  Key (a)  operates oil
field services activities  primarily in the Permian Basin area of West Texas for
both major and  independent  oil companies  (Yale E. Key, Inc. ("Yale E. Key")),
(b) owns and operates  interests in various oil and gas properties in West Texas
(Odessa Exploration Incorporated ("Odessa Exploration")), and (c) drills oil and
gas wells in West Texas (Key Energy  Drilling,  Inc.,  d/b/a Clint Hurt Drilling
("Clint Hurt")).


       Key was  incorporated  in the State of Maryland in 1977.  Key's principal
offices are located at 255 Livingston Avenue,  New Brunswick,  New Jersey 08901,
and its  telephone  number is (908) 247-  4822.  Unless  the  context  otherwise
indicates, the term "Key" refers to Key and its consolidated subsidiaries.


       WellTech. WellTech is engaged in the oil and gas well service business in
Oklahoma, Texas, Michigan,  Pennsylvania and West Virginia and has operations in
Argentina.  WellTech had been engaged in the well service business in West Texas
prior  to  selling  that  business  to Key in 1994  and in  Russia  prior to the
completion of its contract in late 1995.

       WellTech was incorporated in the State of Delaware in 1973. Its principal
executive  offices  are located at 3535  Briarpark,  Suite 200,  Houston,  Texas
77042, and its telephone number is (713) 975- 1600. Unless the context otherwise
indicates,  the  term  "WellTech"  refers  to  WellTech  and its  consoli  dated
subsidiaries.

The Special Meeting


       The Key Special  Meeting  will be held at the Hyatt  Regency,  Two Albany
Street, New Brunswick,  New Jersey, on March 26, 1996,  beginning at 11:00 a.m.,
local time. The purpose of the Key Special  Meeting is to consider and vote upon
the Key  Proposals.  (See "The Special  Meeting--Matters  to Be Discussed at the
Special  Meeting" and "Proposals to be Voted upon at the Key Special  Meeting".)
The  record  date for the Key  Special  Meeting  is March 1, 1995  (the  "Record
Date"). Accordingly, holders of record of Key Common Stock as of the Record Date
will be  entitled  to notice of, and to vote at, the Key  Special  Meeting.  The
presence  in person  or by proxy of  shares  representing  a  majority  of votes
entitled to be cast by holders of the Key Common  Stock as of the Record Date is
required  to  constitute  a quorum for the  transaction  of  business at the Key
Special Meeting.

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