UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): May 20, 2009
KEY ENERGY SERVICES, INC.
(Exact Name of Registrant as Specified in Charter)
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Maryland
(State or Other Jurisdiction
of Incorporation)
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1-8038
(Commission
File Number)
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04-2648081
(IRS Employer
Identification No.) |
1301 McKinney Street, Suite 1800
Houston, Texas 77010
(Address of Principal Executive Offices and Zip Code)
713/651-4300
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Item 2.02 |
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Results of Operations and Financial Condition |
As previously announced, effective in the first quarter of 2009, Key Energy Services, Inc.,
its wholly-owned subsidiaries and its controlled subsidiaries (collectively, the “Company”) revised
its reportable business segments. The Company’s rig services and fluid management services are
aggregated within the Well Servicing segment. The Company’s pressure pumping, fishing, rental and
cased-hole electric wireline operations, as well as its Canadian technology development group, are
now aggregated within the Production Services segment. The Company has also aggregated all of its
operating segments that do not meet the aggregation criteria established in Statement of Financial
Accounting Standards No. 131, Disclosures about Segments of an Enterprise and Related Information
(“SFAS 131”) to form a Functional Support segment, which includes expenses associated with managing
all of its reportable operating segments.
As required by SFAS 131, the consolidated financial statements issued by the Company in its
Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 reflect, and the consolidated
financial statements issued by the Company in the future will reflect, this change in the Company’s
reportable business segments, including reclassifications of all comparative prior period segment
information. Attached and incorporated herein by reference as Exhibit 99.1 is certain annual and
quarterly financial information, presented on a basis that reflects the results of the
above-mentioned change in the Company’s reportable business segments, including the
reclassification of previously published segment data.
The information contained in this Item 2.02 (including the exhibit hereto) shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such
a filing.
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| Item 9.01 |
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Financial Statements and Exhibits |
(d) Exhibits.
99.1 Selected Income Statement Information (Unaudited).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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KEY ENERGY SERVICES, INC.
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| Date: May 20, 2009 |
By: |
/s/ NEWTON W. WILSON III
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Newton W. Wilson III |
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Executive Vice President and Chief Operating Officer |
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