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SEC Filings

KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
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         WellTech is involved in disputes and  litigation  arising in the normal
course of business. In management's opinion, the resolution of such disputes and
litigation will not have a material adverse effect on the financial  position or
results of operations of WellTech.

(9)  Concentrations of Credit Risk

         WellTech has a concentration  of customers in the oil and gas industry.
Substantially  all of WellTech's  customers are major  integrated oil companies,
major independent  producers of oil and gas, and smaller independent  producers.
This may affect WellTech's  overall exposure to credit risk either positively or
negatively, inasmuch as its customers are affected by economic conditions in the
oil and gas industry,  which has historically been cyclical.  However,  accounts
receivable are well diversified among many customers,  and a significant portion
of the  receivables  are from major oil  companies,  which  management  believes
minimizes  potential  credit  risk.   Historically,   credit  losses  have  been
insignificant.  Receivables are generally not collateralized,  although WellTech
may  generally  secure a  receivable  at any time by  filing  a  mechanics'  and
materialmans' lien on the well serviced.

(10)  Operations by Geographic Area

         Substantially  all of WellTech's  operations  are in the well servicing
segment. Information about WellTech's operations for the year ended December 31,
1994 by geographic area is shown below.  During 1994,  WellTech did not have any
significant  operations  or separately  identifiable  assets other than from the
United  States and  Russia.  Prior to 1994,  WellTech  did not have  significant
operations in geographic areas other than the United States.

                                      Year Ended December 31, 1994
                                              (in thousands)

                                Total             States           Russia
Revenues                       $49,043            $43,013            $ 6,030
Operating Income (Loss)       $( 1,256)          $( 2,352)           $ 1,096
Identifiable Assets            $58,176            $57,614            $   562