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EX-99.1 - EX-99.1 - KEY ENERGY SERVICES INCd477259dex991.htm














Date of report (Date of earliest event reported): February 5, 2013




(Exact name of registrant as specified in its charter)




Maryland   001-08038   04-2648081

(State or other Jurisdiction

of Incorporation)



File Number)


(IRS Employer

Identification No.)

1301 McKinney Street, Suite 1800

Houston, Texas 77010

(Address of principal executive offices and Zip Code)


(Registrant’s telephone number, including area code)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 7.01 Regulation FD Disclosure.

Key Energy Services, Inc. (the “Company”) plans to present at the 2013 Credit Suisse Energy Summit, on February 6, 2013 in Vail, Colorado. As previously announced in a news release issued by the Company on January 22, 2013, this presentation will be available via live webcast. A replay of the presentation will also be available at the Company’s website,, under “Investor Relations”. During the presentation, among other matters, the Company plans to discuss the following:


  The Company intends to report fourth quarter and full year 2012 financial results after market close on Thursday, February 14, 2013. The Company expects to report consolidated results in line with prior guidance provided on its third quarter 2012 conference call.


  One of the Company’s large customers significantly reduced its U.S. well servicing activity late in 2012, and the Company expects the full impact of this reduction to be reflected in the Company’s first quarter 2013 results.


  The Company expects activity levels in its U.S. segment to increase after first quarter 2013 and anticipates overall activity for full year 2013 to approximate full year 2012 activity levels.


  The Company’s 2013 capital expenditure plan is currently $210 million and is planned to be primarily focused on equipment maintenance and rig fleet upgrades.

A copy of the slides to be used in connection with the presentation is attached as Exhibit 99.1, and is incorporated herein by reference. The information contained in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

* * * *

This Current Report on Form 8-K, the attached presentation materials and the Company’s webcast presentation contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any matters that are not of historic fact are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, its industry, its management’s beliefs and certain assumptions made by management, including the Company’s activity levels and capital expenditure expectations. No assurance can be given that such expectations, estimates or projections will prove to have been correct. Whenever possible, these forward-looking statements are identified by words such as “expects,” “believes,” “anticipates” and similar phrases.

Because such statements involve risks and uncertainties, the Company’s actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Other important risk factors that may affect the Company’s business, results of operations and financial position are discussed in its most recently filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and in other Securities and Exchange Commission filings. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. However, readers should review carefully reports and documents that the Company files periodically with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits.


(d) Exhibits.


  99.1 Presentation materials for Credit Suisse Energy Summit.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



Date: February 5, 2013

  By:   /s/ KIMBERLY R. FRYE
    Kimberly R. Frye
    Senior Vice President, General Counsel and Secretary

Exhibit Index


99.1    Presentation materials for Credit Suisse Energy Summit.