File No. 333-44677
                                Rule 424(b)(3)

                             PROSPECTUS SUPPLEMENT
                                      TO
                       PROSPECTUS DATED FEBRUARY 6, 1998

                           KEY ENERGY SERVICES, INC.

                                 80,000 SHARES
                                 COMMON STOCK



        Nabors Acquisition Corp. IV is offering for resale 80,000 shares of
common stock of Key Energy Services, Inc., a Maryland corporation. Forty
thousand shares are being offered at $9.571 per share, and 40,000 shares are
being offered at $9.00 per share. The shares are being offered by, and are
being sold through ordinary brokerage transactions, with customary commissions
being paid by Nabors Acquisition Corp. IV in connection with such resale. Key
Energy will not receive any of the proceeds from the resale of the shares
offered by this prospectus.

        Key Energy's common stock is listed on the New York Stock Exchange
under the symbol KEG. On December 29, 2000, the closing price of the common
stock, as reported on the exchange, was $10.3125 per share.

        FOR A DISCUSSION OF CERTAIN FACTORS THAT SHOULD BE CONSIDERED BY
PROSPECTIVE INVESTORS, SEE " RISK FACTORS" ON PAGE 4 OF OUR PROSPECTUS DATED
FEBRUARY 6, 1998.



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    Neither the SEC nor any state securities commission has approved these
    securities or determined that this prospectus supplement is accurate or
           complete. Any representation to the contrary is illegal.
_______________________________________________________________________________



The date of this prospectus supplement is January 2, 2001.