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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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                     Key Energy Group, Inc. and Subsidiaries
                   UNAUDITED PRO FORMA COMBINED BALANCE SHEET

                             as of December 31, 1995

                                 (In thousands)

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<CAPTION>
<S>                                                      <C>           <C>                 <C>            <C>      <C> 
                                                                                              Pro Forma              Pro Forma
                                                                 Key    WellTech, Inc          Entries                Combined
  ASSETS:
  Current Assets:

    Cash                                                  $      503     $    1,267          $  1,200     (c)         $     2,970
    Restricted cash                                              452              -                                           452
    Restricted marketable securities                             267              -                                           267
    Accounts receivable, net                                   8,352         14,477                                        22,829
    Inventories                                                1,300              -                                         1,300
    Prepaid expenses and other current assets                    225          2,333                                         2,558

- -----------------------------------------------------------------------------------                               -----------------
  Total Current Assets                                        11,099         18,077                                        30,376

- -----------------------------------------------------------------------------------                               -----------------

  Equity in Unconsolidated Well Servicing
Operations:

    Dawson WellTech, LLC                                           -          7,175           (7,175)     (b)                   -
    Key Energy Group, Inc.                                         -          8,572           (8,572)     (b)                   -

- -----------------------------------------------------------------------------------                               -----------------

  Total                                                            -         15,747                                             -

- -----------------------------------------------------------------------------------                               -----------------
  Property and Equipment:

    Oilfield service equipment                                25,456         37,631          (12,707)     (a)              50,380
    Oil and gas well drilling equipment                        2,374          2,751             (938)     (a)               4,187
    Motor vehicles                                               521            525                                         1,046

    Oil and gas properties and related equipment,

        successful efforts method                              9,809              -                                         9,809
    Furniture and equipment                                      334          1,026                                         1,360
    Buildings and land                                         2,086          3,231                                         5,317

- -----------------------------------------------------------------------------------                               -----------------

                                                              40,580         45,164                                        72,099
Accumulated depreciation & depletion                         (6,188)       (14,384)           14,384      (a)             (6,188)

- -----------------------------------------------------------------------------------                               -----------------

Net Property and Equipment                                    34,392         30,780                                        65,911

- -----------------------------------------------------------------------------------                               -----------------

Other Assets                                                   2,020          2,928             1,946     (a)               6,994
                                                                                                  100     (c)

- -----------------------------------------------------------------------------------                               -----------------

  Total Assets                                               $47,511        $67,532                                      $103,281

==================================================================================                                =================
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See accompanying notes to unaudited pro forma combined financial statements.

                                      F-64