KEY ENERGY SERVICES, INC. (OTCMKTS:KEGXQ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective May 22, 2017 (the “Effective Date”), Key Energy Services, Inc. (the “Company”) has decided to eliminate the position of Senior Vice President – Strategic Projects for its wholly owned subsidiary Key Energy Services, LLC, which position is held by Jeffrey S. Skelly. Mr. Skelly’s employment will terminate on the Effective Date. On May 19, 2017, in connection with Mr. Skelly’s termination of employment, the Compensation Committee of the Board of Directors of the Company agreed to accelerate the vesting of Mr. Skelly’s outstanding time-vesting equity awards, subject to his signing a release of claims against the Company. Upon his termination, Mr. Skelly will also be eligible to receive severance compensation in accordance with the terms of his employment agreement and continued payment of his retention award in accordance with the terms of his amended and restated cash retention award agreement.

About KEY ENERGY SERVICES, INC. (OTCMKTS:KEGXQ)

Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The Company provides a range of well services to oil companies, foreign national oil companies, and independent oil and natural gas production companies. The Company operates in five segments: U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services, and International. Its U.S. Rig Services, Fluid Management Services, Coiled Tubing Services, Fishing and Rental Services operate geographically within the United States. The International segment includes its operations in Mexico, Colombia, Ecuador, Russia, Bahrain and Oman. The Company’s services include rig-based and coiled tubing-based well maintenance and workover services, well completion and recompletion services, fluid management services, fishing and rental services, and other ancillary oilfield services. Additionally, certain of its rigs provide specialty drilling applications.

KEY ENERGY SERVICES, INC. (OTCMKTS:KEGXQ) Recent Trading Information

KEY ENERGY SERVICES, INC. (OTCMKTS:KEGXQ) closed its last trading session at 0.132 with 1,602,320 shares trading hands.