Key Energy Services Provides October 2010 Activity Data
HOUSTON, Nov. 15, 2010 /PRNewswire/ -- Key Energy Services, Inc. (NYSE: KEG) provides October 2010 activity data.
Activity levels for the month of October 2010 and comparable periods are as follows: |
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For the Month Ended |
% Change |
% Change |
|||||||||
10/31/10 |
9/30/10 |
10/31/09 |
vs 9/30/10 |
vs 10/31/09 |
|||||||
U.S. Rig Hours |
138,116 |
138,924 |
115,956 |
-0.6% |
19.1% |
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U.S. Rig Hours Per Working Day |
6,577 |
6,615 |
5,271 |
-0.6% |
24.8% |
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International Rig Hours |
29,914 |
27,377 |
36,816 |
9.3% |
-18.7% |
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International Rig Hours Per Calendar Day |
965 |
913 |
1,188 |
5.7% |
-18.7% |
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Total Rig Hours |
168,030 |
166,301 |
152,772 |
1.0% |
10.0% |
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Total Trucking Hours |
235,423 |
187,774 |
142,284 |
25.4% |
65.5% |
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Total Trucking Hours Per Calendar Day |
7,594 |
6,259 |
4,590 |
21.3% |
65.5% |
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U.S. Working Days* |
21 |
21 |
22 |
0.0% |
- |
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Calendar Days |
31 |
30 |
31 |
3.3% |
- |
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*Key calculates U.S. working days as total weekdays for the month less any holidays that occur in the month. |
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For the month of November 2010, there will be 20 working days. |
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The following reflects utilization data relative to Key's U.S. rig services fleet: |
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For the Month Ended |
% Change |
% Change |
|||||||||
10/31/10 |
9/30/10 |
10/31/09 |
vs 9/30/10 |
vs 10/31/09 |
|||||||
Total Available U.S. Rigs |
774 |
737 |
743 |
5.0% |
4.2% |
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Average Rigs Worked* |
477 |
478 |
410 |
-0.2% |
16.3% |
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Utilization |
62% |
65% |
55% |
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*Average U.S. rigs worked is calculated as the total number of rigs worked per working day during a period divided by the number of workdays in that period. |
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Additional comparable information for prior monthly periods is available on Key's website at www.keyenergy.com under "Investor Relations."
Chairman, President, and CEO, Dick Alario, commented, "Our U.S. activity declined in October, partially due to typical seasonality and weather. This report includes contribution from the recently acquired rig and fluid businesses of OFS, which contributed 3,668 rig hours and 43,230 trucking hours in October. Rig utilization declined by one rig, as the 12 average OFS rigs working during October helped offset a 13 average rig decline that the legacy Key fleet experienced. International rig hours improved 9% in October, driven almost equally by gains in Mexico and Colombia."
About Key Energy Services
Key Energy Services is the largest provider of onshore well service rigs in the world based on current industry data. Key provides a complete range of well intervention services. Key has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Latin America and Russia.
Contact: |
Gary Russell |
|
713-651-4434 |
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SOURCE Key Energy Services, Inc.
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