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SEC Filings

KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document

All of Yale E. Key's operating facilities are metal one story combination office
and shop  buildings  and are  considered to be in good  condition.  All of these
properties are encumbered by security interests in favor of certain lenders. See
Note 5 of Notes to Consolidated Financial Statements of Key.

       Odessa Exploration leases approximately 3,300 square feet of office space
in Odessa, Texas.


       As of December 31, 1995, Key employed  approximately  827 persons (737 at
Yale E. Key,  five at Odessa  Exploration,  83 at Clint  Hurt and three at Key).
None  of  Key's  employees  are  represented  by a  labor  union  or  collective
bargaining  agent.  Key has experienced no work stoppages  associated with labor
disputes or grievances  and  considers  its  relations  with its employees to be


       The oil field service operations,  the oil and gas production  activities
and the oil and natural gas drilling of Key are subject to various local,  state
and federal laws and regulations intended to protect the environment. Management
of Key believes that it is in  substantial  compliance  with all material  known
existing federal, state and local regulations as they relate to the environment.
Although  Key  has  incurred   certain  costs   relating  to   compliance   with
environmental  laws and  regulations,  such amounts were not material during the
past three fiscal years.

       Management believes that Key is in substantial  compliance with all known
material local, state and federal safety guidelines and regulations. In order to
comply  with such  safety  guidelines  and  regulations  and  increase  employee
awareness of on-the-job safety,  Yale E. Key employs four safety officers.  Yale
E. Key also has a safety  training and education  center which is used by it for
continued safety training and awareness.

Legal Proceedings

       There are no material  pending  legal  proceedings  against  Key.  Key is
subject to legal  proceedings  and claims which arise in the ordinary  course of
business, none of which, in the opinion of management, have a material impact on
Key's financial condition or results of operations.