Key Energy Services Provides February Rig and Trucking Hours

HOUSTON, March 11 /PRNewswire-FirstCall/ -- Key Energy Services, Inc. (NYSE:KEG) announced today its rig and trucking hours for the month of February 2008.

Rig and Trucking Hours

For the month ending
February 29, January 31, February 28,
2008 2008 2007
Working Days 21 22 20
Rig Hours 215,315 227,077 197,959
Trucking Hours 189,168 197,331 179,905

The Company calculates working days as total weekdays for the month less
any company holidays that occur that month. For the month of March 2008,
there are 20 working days.

Key Energy Services, Inc. is the world's largest rig-based well service company. The Company provides oilfield services including well servicing, pressure pumping, fishing and rental tools, electric wireline and other oilfield services. The Company has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Argentina and Mexico.

Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company, the Company's industry, management's beliefs and certain assumptions made by management. Whenever possible, the Company has identified these "forward-looking statements" by words such as "expects," "believes," "anticipates" and similar phrases. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, but not limited to: risks that the Company will be unable to complete its new capital investment plan, including that it will be unable to identify or complete acquisitions and that it will be unable to integrate acquired operations; risks affecting the ability of the Company to maintain or improve operations, including the ability to maintain price increases, the impact of new rigs coming into the market and weather risk; the risk of changes in interest rates which could affect interest expense; and risks that the Company will be unable to achieve budgeted financial targets or cost reductions; factors affecting the Company's stock repurchase program, including, among others, the market price of the company's stock prevailing from time to time, the nature of other investment opportunities presented to the company from time to time, the company's cash flows from operations, availability under the Company's revolving credit facility; and general economic conditions; and risks affecting activity levels for rig hours including the risk that commodity prices decline or the risk that capital budgets from the Company's customers decrease. Readers should also refer to the section entitled "Risk Factors" in the 2007 Annual Report on Form 10-K filed February 29, 2008 for a discussion of risks to which the Company is subject. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. 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 or documents the Company files periodically with the Securities and Exchange Commission.

Contact: John Daniel

(713)651-4300

First Call Analyst:
FCMN Contact:

Source: Key Energy Services, Inc.

CONTACT: John Daniel of Key Energy Services, Inc., +1-713-651-4300

Web site: http://www.keyenergy.com/

2008-03-11 19:02:23 0310174 PRNEWSWIRE