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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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                     Key Energy Group, Inc. and Subsidiaries
              UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS

                       Six Months Ended December 31, 1995

                 (In thousands, except share and per share data)


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<S>                                                     <C>          <C>                  <C>                <C> 
                                                                                              Pro Forma              Pro Forma
                                                               Key     WellTech, Inc          Entries                Combined


REVENUES:

   Oilfield service                                     $    19,148   $     29,471                              $      48,619
   Oil and gas                                                1,727              -                                      1,727
   Oil and gas well drilling                                  3,659          1,558                                      5,217
   Other, net                                                   258              -                                        258
- -------------------------------------------------------------------------------------                           --------------- 

                                                             24,792         31,029                                     55,821
- -------------------------------------------------------------------------------------                           ---------------     
COSTS AND EXPENSES

   Oilfield services                                         14,153         23,014          (1,000)  (f)               36,167
   Oil and gas                                                  619              -                                        619
   Oil and gas well drilling                                  2,735          1,712            (150)  (f)                4,297
   Depreciation, depletion and amortization                   1,794          1,524                                      3,318
   General and administrative                                 2,390          4,523            (750)  (f)                6,163
   Interest                                                     877            716            (250)  (c)                1,343
   Equity in (earnings) losses of
     unconsolidated investees                                     -          (741)              741  (b)                    -
- -------------------------------------------------------------------------------------                           --------------- 
                                                             22,568         30,748                                     51,907
- -------------------------------------------------------------------------------------                           --------------- 


Income before income taxes                                    2,224            281                                      3,914
Income tax expense                                              730              -              582  (g)                1,312

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



NET INCOME                                          $         1,494    $       281                                 $   2,602

=====================================================================================                           ================

EARNINGS PER SHARE :


  Income before income taxes                           $       0.32   $       0.80                              $        0.38
  Net income                                           $       0.22   $       0.80                              $        0.25


WEIGHTED AVERAGE SHARES
OUTSTANDING:                                                  6,914            353                                     10,414
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See accompanying notes to unaudited pro forma combined financial statements.





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