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SEC Filings

KEY ENERGY SERVICES INC filed this Form 8-K on 02/12/2018
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Slide 25

Increased Deferred Maintenance Driving Demand Backlog… Deferred maintenance oil well population increased from ~0 to ~49,000 since January 2015 Key believes a significant drop in working rigs relative to implied rig demand has created a backlog of “deferred maintenance” (“DeM”) vertical oil wells Unusual relative to historical norms Backlog of ~49,000 DeM vertical oil wells today provides another catalyst for well service demand DeM backlog could require ~420 well service rigs Source: AESC, DrillingInfo, Bloomberg, Key Energy Services, Inc. Note: Implied rig demand generated under same methodology as discussed on slides 21 & 23 of this presentation for historical periods based on average monthly WTI oil prices to derive the universe of Economic vertical oil wells and the associated implied rig demand. Working rigs per AESC rig count data as of December 2017. (1) The figures reflected in this chart are the summation of incremental well service candidates classified as ‘DeM’ wells over the 2012 – December 2017 time period reflected.