Key Energy Provides Activity Update and Announces First Quarter Conference Call

HOUSTON, April 13  /PRNewswire-FirstCall/ -- Key Energy Services, Inc. (Pink Sheets: KEGS) announced today its rig and trucking hours for the quarter ended March 31, 2007 and announced that it will host its first quarter conference call on May 10, 2007.

  Operations Update

                                      For the quarter ended
                       March 31, 2007    December 31, 2006    March 31, 2006

   Working Days              64                   61                64
   Rig Hours               625,748              637,994           663,819
   Trucking Hours          571,777              578,471           609,317



The Company calculates working days as total weekdays for the period less ny company holidays that occur that month.

First Quarter Conference Call

The Company will hold an investor conference call on May 10, 2007 at 10:00am CDT.  The call will be held in conjunction with the release of the Company's selected financial data for the first quarter of 2007.  This information is expected to be released after the market closes on May 9, 2007. To access the call, which is open to the public, please call the conference call operator at the following number: [phone] and ask for the "Key Energy Services Conference Call."  International callers should dial [phone].  The conference call will also be available on the web. To access the webcast, go to http://www.keyenergy.com/ and select "Investor Relations."  A replay of the conference call will be available on May 10, 2007 beginning at 2:00pm CDT and will be available for one week. To access the replay, please call [phone].  The access code for the replay is 5370866.

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.

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: uncertainties affecting whether the Company will be able to complete and file financial statements for 2004, 2005 and 2006, and the timing thereof; the risk of possible changes in the scope and nature of, and the time required to complete, the audit of the Company's 2004, 2005 and 2006 financial statements; the impact of governmental investigations; possible legal consequences of failure to file compliant SEC filings for 2003, 2004 and 2005; risks that the Company will be unable to satisfy the requirements for re- listing on a national stock exchange or the timing thereof; potential impact on operations of the Company's ongoing process to complete 2004, 2005 and 2006 financial statements; the effect of on-going financial reporting and restatement-related expenses; possible additional tax liabilities as a result of the restatement of financial results; risks that the Company's efforts to remediate internal control and accounting deficiencies will not be effective; potential financial or other effects of on-going class action and derivative litigation and litigation with former officers; risks affecting the ability of the Company to maintain or improve operations, including the ability to maintain price increases, possible over supply of new rigs coming into the market and weather risks; risks associated with technology investments and the receptiveness of customers to the new technology investments; and risks that the Company will be unable to achieve budgeted financial targets 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 2003 Financial and Informational Report filed with a Form 8-K/A on October 26, 2006 for discussion of risks arising from the restatement process and other 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

[phone] 

DATASOURCE: Key Energy Services, Inc.



CONTACT:  John Daniel of Key Energy Services, Inc., [phone]



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

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