Key Energy Services sells well intervention business in Russia

Key Energy Services Inc. (NYSE: KEG) has closed on the sale of its well intervention business in Russia to an undisclosed buyer for an undisclosed amount.

Key's president and CEO, Robert Drummond, stated, "The sale of Key's Russian Business marks the culmination of the strategic initiative set forth in early 2015 to fully-exit markets outside of the US."

Key Energy Services is the largest onshore, rig-based well servicing contractor based on the number of rigs owned. Key provides a complete range of well intervention services and has operations in all major onshore oil and gas producing regions of the continental United States.

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