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S-4/A
KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document
 
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                         WELLTECH, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                        AS OF DECEMBER 31, 1994 AND 1993

                                 (In Thousands)


                                     ASSETS

                                                       1994        1993

CURRENT ASSETS:
  Cash and cash equivalents                        $    624     $   689
  Accounts receivable, less allowance for            11,375       9,160
   doubtful accounts of $995 and $372,
   respectively
  Prepaid insurance losses                              510       1,570
  Prepaid expenses and other                            271         484
                                                   --------    --------
         Total Current Assets                        12,780      11,903
                                                     ------      ------

INVESTMENT IN UNCONSOLIDATED
WELL SERVICING OPERATIONS:
  Dawson WellTech, LLC                                6,511       4,899
  Key Energy Group, Inc.                              8,401        -
  Servicios WellTech, S.A.                            2,727       1,906
                                                     ------       -----
                                                     17,639       6,805

PROPERTY AND EQUIPMENT:
  Well servicing equipment                           31,733      26,002
    Land, buildings and other                         4,426       3,801
                                                    -------      ------
                                                     36,159      29,803

    Accumulated depreciation                        (11,254)    (11,594)
                                                    -------    --------
      Net Property and Equipment                     24,905      18,209
                                                   --------   ---------

OTHER ASSETS:
  Net assets held for sale                                -       5,323
  Debt restructuring costs                                -         641
  Other                                               2,852       1,682
                                                  ---------       -----

    Total Assets                                    $58,176     $44,563
                                                    =======     =======


                     The accompanying notes are an integral
                      part of these consolidated financial

                                      F-38