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SEC Filings

8-K
KEY ENERGY SERVICES INC filed this Form 8-K on 06/30/2017
Entire Document
 
EX-99.1

Exhibit 99.1

LOGO     

June 30, 2017

 

Contact:

West Gotcher, Investor Relations

713-757-5539

 

FOR IMMEDIATE RELEASE

Key Energy Services Announces the Sale of Advanced Measurements, Inc.

HOUSTON, TX, June 30, 2017 – Key Energy Services, Inc. (NYSE: KEG) has closed on the sale of Advanced Measurements, Inc. (“AMI”), its technology development and controls system business based in Alberta, Canada, to AFGlobal Corporation for an undisclosed amount.

Key’s President and Chief Executive Officer, Robert Drummond, stated, “The sale of AMI represents another step in our effort to fully exit all markets outside of the U.S. This divestiture allows Key to further streamline the Company in order to execute on its strategy as a leading production services provider.”

About Key Energy Services

Key Energy Services is the largest onshore, rig-based well servicing contractor based on the number of rigs owned. Key provides a complete range of well intervention services and has operations in all major onshore oil and gas producing regions of the continental United States.

About AFGlobal

AFGlobal is an oil and gas OEM specializing in technology, products, and services. The company’s fully-integrated manufacturing capabilities serve clients around the world. AFGlobal aligns well-established precision engineering with industry-leading innovation. The company provides strategic technologies to the upstream market, including advanced drilling systems, pressure pumping technologies, lifecycle services and subsea production systems. Headquartered in Houston, Texas, AFGlobal delivers value through more than 20 facilities worldwide. www.afglobalcorp.com.