Water Energy Services to acquire the fluid management and salt water disposal well assets of Key Energy Services.

Water Energy Services, a water logistic services provider, agreed to acquire the fluid management and salt water disposal well assets of Key Energy Services, an onshore, rig-based well servicing contractor. Financial terms were not disclosed. "The sale of these assets represents a significant milestone in our efforts to focus Key on our core operations. While our liquidity position has already benefited from our positive operating cash flow and recovery of cash previously used to collateralize our outstanding letters of credit, the proceeds from this asset sale significantly accelerate that improvement and provide Key with additional resources to take advantage of opportunities in the market today. I want to thank the employees impacted by this transaction for their hard work and dedication to Key over the years and we wish them much future success," Marshall Dodson, Key President and CEO.