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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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Competition and Other External Factors

         The need for oil field services  fluctuates,  in part,  from the demand
for oil and natural gas. As demand for those commodities increases,  service and
maintenance  requirements  increase.  Yale E. Key competes  with other local oil
field  service  companies  as well as national  service  companies.  Yale E. Key
believes  it is the  largest oil well  service  company in West Texas  (based on
number of workover rigs and  employees).  Key believes that the reputation  that
Yale E. Key (including its  predecessors) has developed over its 48 years in oil
field service operations contributes greatly to its competitive position.

         Odessa   Exploration   acquires  various  oil  and  gas  properties  by
purchasing them from independent and major oil companies and competes with other
independent   and  integrated  oil  companies  for  the   acquisition  of  these
properties.

         Clint Hurt competes with other local oil and gas drilling  contractors,
as well as national  oil and gas  drilling  companies.  As with Yale E. Key, the
need for drilling oil and gas wells fluctuates, in part, from the demand for oil
and natural gas.

Property

         Key leases  approximately 1,500 square feet for its principal executive
offices in New Brunswick, New Jersey.

         The  following  table sets forth  information  with  respect to Yale E.
Key's operating  facilities at December 31, 1995, all of which were used in the
operations of Yale E. Key and are located in Texas,  including those acquired in
August of 1994 as part of the WellTech West Texas acquisition.

        Approximate                                                Ownership
         Location                   Square Footage                  Interest

         Lamesa                            3,350                     Fee
         Midland                          18,250                     Fee
         Odessa                           10,000                     Fee
         Seminole                         12,500                     Fee
         Big Lake                          3,500                     Fee
         Odessa *                         10,000                     Fee
         Snyder *                         10,000                     Fee
         Kermit *                          7,000                     Fee
         Forsan *                         10,000                     Fee
         Big Lake *                        8,000                     Lease
         Sterling City                     1,400                     Lease
         Andrews *                         5,000                     Lease
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*  Former WellTech locations.

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