Key Energy Services
Encyclopedia
Background
The company provides well services and is based in Houston, Texas with other offices in Midland, Texas and regional offices in Bakersfield, California; Farmington, New Mexico; Casper, Wyoming; El Reno, Oklahoma; Lafayette and Shreveport, Louisiana; and Arnoldsburg, West Virginia. Key has over 175 service locations (known as “districts”) in the US; seven in Argentina and one in Mexico (Poza Rica).Business Segments
Rig ServicesRig-based well-servicing for workover or re-entries on existing wells, such as:
- New well completions
- PNA (Plug and Abandonment)
- Stimulation of existing wells with declining production
- Horizontal or directional drilling
- SmartTongsm Rod Connection Service
Fluid Management Services
Oilfield transportation services (often referred to as “Trucking”)
Fishing Services
Process to recover lost or stuck equipment in the well bore utilizing a "fishing tool” or “jar”. The FRS operations also cut windows in well sidewall casings for horizontal re-entries.
Rental Services
Ancillary equipment such as generators, drill collars as well as proprietary tools such as the Hydra-Walkr automated pipe handling system.
Coiled Tubing Services (CTS)
Provides fracing aka Hydraulic fracturing
Hydraulic fracturing
Considerable controversy surrounds the current implementation of hydraulic fracturing technology in the United States. Hydraulic fracturing, or fracking, is the process of utilizing pressurized water, or some other liquid, to fracture rock layers and release petroleum, natural gas, or other...
, acidizing and cementing services.
History & Notable Acquisitions
While Key Energy traces its roots to New Hope, PA, operating under the name The Yankee Companies, the company’s current name is a legacy of Yale E. Key, a West Texas oilman. Key Energy has grown through over 1002of acquisitions. The most notable ones are listed below.| Year | Company | Location |
|---|---|---|
| 1993 | Odessa Exploration | TX |
| 1994 | Oilwell fishing tools | TX |
| 1995 | Clint Hurt and Associates | TX |
| 1996 | WellTech | OK, MI, PA and WV |
| Woodward Oil Service | OK | |
| Brownlee Well Service/Integrity Fishing & Rental Tools | TX | |
| Energy Air Drilling Services | TX | |
| Hitwell Surveys | MI and WV | |
| Brooks Well Servicing | TX | |
| B&L Hotshot | MI | |
| 1997 | Talon Trucking | OK |
| Cobra Industries | NM | |
| Tri-State Wellhead & Valve | TX | |
| Kalkaska Construction/Elder Well Service | MI | |
| T.S.T. Parafin Service | TX | |
| Diamond Well Service | OK | |
| Drillers | Argentina | |
| Shreve Well Service | WV | |
| GSI Trucking & Kahlden Trucking | various | |
| Jeter Service | TX | |
| 1998 | Dawson Production Services | TX |
| 1999 | Six minor companies, adding 93 rigs to inventory | various |
| 2001 | Three minor acquisitions, adding 34 rigs to inventory | various |
| 2002 | Q Services | TX, LA, OK, NM and Gulf of Mexico |
| 2004 | Fleet Cementers | CA & TX |
| 2007 | Moncla Companies | LA, MS & TX |
| Advanced Measurements Incorporated (AMI) | Canada | |
| 2008 | Kings Oil Tools | CA |
| Hydra-Walk, Inc. | OK | |
| Leader Energy (US operations) | MI, ND, WV |
External links
- Key Energy Services
- http://www.rigzone.com/news/article.asp?a_id=50445
- http://www.allbusiness.com/banking-finance/financial-markets-investing/8907145-1.html