Key Energy Services has acquired the well servicing division assets of Endeavor Energy Resources in an all-cash transaction to enhance its service capabilities in the Permian Basin.

Information on the Target

Key Energy Services, Inc. has announced the acquisition of the majority of the assets from the well servicing division of Endeavor Energy Resources, L.P. This all-cash transaction, effective May 19, 2024, positions Key to enhance its service offerings in the Permian Basin, one of the most productive oil fields in the United States. By integrating these assets into its existing operations, Key aims to bolster its well servicing capabilities and continue to meet the needs of Endeavor in the region.

Marshall Dodson, President and CEO of Key Energy Services, expressed enthusiasm about the acquisition, highlighting the valuable personnel and equipment that have been absorbed into the company. This acquisition signifies Key's commitment to maintaining strong partnerships and delivering exceptional service standards that are expected in the fast-paced energy sector.

Industry Overview in the United States

The energy production industry in the United States continues to evolve, driven by advancements in technology and an increasing demand for oil and natural gas. The Permian Basin remains a focal point for exploration and production a