HOUSTON, Jan. 13 /PRNewswire-FirstCall/ -- Key Energy Services, Inc. (NYSE: KEG) announced today its rig and trucking hours for the month of December 2008. 


                                            For the month ending
                                December 31,    November 30,    December 31,
                                   2008            2008            2007

    Working Days                    21              18             19
    Rig Hours                    195,022         187,892         201,476
    Trucking Hours               195,766         191,992         187,973

    The Company calculates working days as total weekdays for the month
    less any Company holidays that occur that month.  For the month of
    January 2009, there are 21 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 affecting the ability of the Company to maintain or improve operations, including the ability to maintain prices, the impact of weather; risks that the Company will be unable to achieve financial targets or cost reductions; risks associated with prolonged poor economic conditions in the United States and globally; the continued instability of the credit market, availability of credit under the Company's revolving credit facility and related liquidity risks; risks affecting activity levels for rig hours, including the continued decline and instability of commodity prices and decreased capital budgets from the Company's customers. Readers should also refer to the sections entitled "Risk Factors" in both the 2007 Annual Report on Form 10-K filed February 29, 2008 and in the third quarter 2008 Quarterly Report on Form 10-Q filed November 7, 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: Bill Austin
    (713) 651-4300

SOURCE Key Energy Services, Inc.