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Segment Recast

Key Energy Services, Inc., announced on February 19, 2015, that we have revised our reportable business segments as of the fourth quarter of 2014. The revised reportable segments are U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services and International. We also have a “Functional Support” segment associated with overhead costs in support of our reportable segments. We revised our segments to reflect changes in management’s resource allocation and performance assessment in making decisions regarding our business. Our U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services operate geographically within the United States. The International reportable segment includes our operations in Mexico, Colombia, Ecuador, Russia, Bahrain and Oman. Our Canadian subsidiary is also reflected in our International reportable segment. We evaluate the performance of our segments based on gross margin measures. All inter-segment sales pricing is based on current market conditions.

The Company will report under this new business segment structure beginning with its fourth quarter and fiscal year ended December 31, 2014 with prior periods adjusted accordingly. To assist investors in their understanding of the results for the fourth quarter and fiscal year ended December 31, 2014, and to permit them to formulate a comparative framework from which to analyze the results, the Company is furnishing recast data under the new reporting segments for the quarterly periods from January 1, 2014 through December 31, 2014. The Company notes that its consolidated results are not affected by its change in reporting segments and therefore its consolidated results are as reported in quarterly and annual reports previously filed with the Securities and Exchange Commission.

 

SEC Filings

You are provided a hyperlink to a third-party SEC Filings web site. Key Energy Services does not maintain or provide information directly to this site.

Key Energy Services makes no representations or warranties with respect to the information contained herein and takes no responsibility for supplementing, updating, or correcting any such information. The filings service offers several useful features to enhance investors’ review of SEC documents:

  • Complete indexing of the documents
  • Filing attachments
  • Ability to download financial tables to spreadsheet format

 

Analyst Coverage

Firm Analyst Phone Email
Capital One Southcoast Luke Lemoine 504-593-6174 luke.lemoine@capitalonebank.com
Piper Jaffray & Co. John Daniel 713-546-7215 jdaniel@simmonsco-intl.com
Evercore ISI James West 212-653-9047
Johnson Rice & Co. Daniel Burke 504-584-1213
Seaport Global Securities Michael Urban 212-616-7700

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INVESTOR RELATIONS CONTACT

Primary Contact Marshall Dodson
President, Chief Executive Officer and Interim Chief Financial Officer
Phone: (713) 651-4403
Transfer Agent American Stock Transfer
& Trust Company
6201 15th Avenue
Brooklyn, NY 11219
Accountants Grant Thornton LLP
Houston, TX

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