September 21, 2017
West Gotcher, Investor Relations
FOR IMMEDIATE RELEASE
Key Energy Services Announces
the Sale of its Well Intervention Business in Russia
HOUSTON, TX, September 21, 2017 Key Energy Services, Inc. (NYSE: KEG) has closed on the sale of its well intervention business in Russia
(Russian Business) to an undisclosed buyer for an undisclosed amount.
Keys President and Chief Executive Officer, Robert Drummond,
stated, The sale of Keys Russian Business marks the culmination of the strategic initiative set forth in early 2015 to fully-exit markets outside of the U.S. This is an important milestone in Keys history and further solidifies our
commitment to our customers as a leading U.S.-focused production services company.
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.
This press release
contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature or that relate to future events and conditions are, or may be deemed to be, forward-looking
statements. These forward-looking statements are based on Keys current expectations, estimates and projections and its managements beliefs and assumptions concerning future events and financial trends affecting its financial condition
and results of operations. In some cases, you can identify these statements by terminology such as may, will, should, predicts, expects, believes, anticipates,
projects, potential or continue or the negative of such terms and other comparable terminology. These statements are only predictions and are subject to substantial risks and