Key Energy Services Launches $200 Million Private Placement of 6.750% Senior Notes due 2021

Key Energy Services, Inc. KEG has commenced a private placement of an additional $200 million in aggregate principal amount of its 6.750% Senior Notes due 2021. Payment of the notes will be guaranteed by certain of Key Energy Services' restricted subsidiaries. The notes will be issued as additional securities under an indenture pursuant to which Key issued $475 million of its 6.750% Senior Notes due 2021 on March 4, 2011, and the new notes and the previously issued notes will be treated as a single class under that indenture. Until the new notes have been exchanged for registered notes, however, the new notes will not have the same CUSIP number as and will not trade interchangeably with the previously issued notes.