The story of Key is one of vision, determination and perseverance in the face of significant odds. Key was originally part of The Yankee Companies, which was made up of a variety of businesses within the energy, environmental services and banking sectors.
In 1988, the Board of Directors decided to re-focus the company's strategic plan and concentrate on the energy services business. As a result, the company's non-energy operating entities were jettisoned, and the corporation was rebuilt using its West Texas well servicing division, Yale E. Key, as the foundation. What resulted over the next several years was an aggressive program of acquisitions that ultimately led to the creation of Key Energy Services, Inc.
Key’s leadership knew there was strength in numbers. Therefore, the critical element in Key's reformulated business plan was to consolidate the fragmented well services business by building a strong company with critical mass and financial stability. This goal would be difficult to achieve, however, because the industry was made up of hundreds of small regional competitors.
In less than 10 years, Key used its know-how to transform from a company with fewer than 50 working rigs into the largest land-based well services company in the country. The management team assembled the largest fleet of oilfield service vehicles in the United States and a team with unmatched experience. Rounding out the plan to be a total service provider was the company's acquisition of Q Services, Inc. in July of 2002, which strengthened Key’s position in the fishing and rental services market.
Today, Key Energy Services is the market leader in its class with more than 8,500 employees with the know-how to deliver on client expectations every time.