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News Breaks
February 5, 2013
09:15 EDTKEGKey Energy sees reporting Q4 results in line with prior guidance
Key Energy disclosed in a regulatory filing that it expects to report consolidated Q4 results in line with prior guidance provided on its Q3 conference call. The company also disclosed in advance of an investor conference presentation that one of its 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 its 1Q13 results. The company said it expects activity levels in its U.S. segment to increase after 1Q13 and anticipates overall activity for full year 2013 to approximate full year 2012 activity levels. The company said its 2013 capital expenditure plan is currently $210M and is planned to be primarily focused on equipment maintenance and rig fleet upgrades.
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September 4, 2015
06:04 EDTKEGKey Energy receives notice from NYSE regarding continued listing requirements
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August 24, 2015
16:48 EDTKEGKey Energy announces CEO succession plan
Key Energy Services announced that its board has approved a CEO succession plan and certain corporate governance changes. Under the succession plan, it is anticipated that Robert Drummond, Key's president and COO will assume the role of CEO no later than December 31, 2016, succeeding Dick Alario, who has informed the board of his intention to retire next year. As part of this transition, the board has split the positions of chairman of the board and CEO. The board has elected director Mark Rosenberg to the position of non-executive chairman effective immediately. Alario will continue as CEO and a member of the board. Key also announced that the board has established a Finance Committee. The Committee will assist the board, and provide a resource for management, in connection with the board's oversight of the company's short and long term financial activities.

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