Item 2.02 Results of Operations and Financial Condition

In a press release dated October 1, 2009, Key Energy Services, Inc., a Maryland corporation (the "Company"), announced that it anticipates pre-tax charges in the third quarter 2009 related to the retirement of well service rigs from its domestic fleet and a preliminary impairment analysis performed on its pressure pumping equipment fleet. Absent these charges, the Company announced that it believes loss per share for the third quarter 2009 will likely be within a range of ($0.19) to ($0.23). The preliminary impairment analysis on the pressure pumping equipment fleet was preformed in connection with the Company's preparation and review of financial statements to be included in its next Form 10-Q for the quarter ended September 30, 2009. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference. The information contained in this report (including the exhibit hereto) is furnished pursuant to Item 2.02 of this Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

99.1 Press release dated October 1, 2008 announcing asset retirement and impairment charges and update on third quarter financial performance.