8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): July 1, 2008 (June 25, 2008)

KEY ENERGY SERVICES, INC.

(Exact Name of Registrant as Specified in Charter)

Maryland	1-8038	04-2648081
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1301 McKinney Street, Suite 1800

Houston, Texas  77010

(Address of Principal Executive Offices and Zip Code)

713/651-4300

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02.  Departure of Directors or Principal Officers; Election of Directors: Appointment of Principal Officers

(c)           Effective June 25, 2008, Newton W. Wilson III was elected as Executive Vice President and Chief Operating Officer of Key Energy Services, Inc. (the “Company”).  Mr. Wilson, age 57, joined the Company as Senior Vice President, General Counsel and Secretary effective January 24, 2005. Previously, Mr. Wilson served as Senior Vice President, General Counsel and Secretary of Forest Oil Corporation, which he joined in November 2000. Prior to joining Forest, Mr. Wilson was a consultant to the oil industry as well as an executive for two oil and gas companies, Union Texas Petroleum and Transco Energy Company. Mr. Wilson received a BBA from Southern Methodist University and a JD from the University of Texas. Mr. Wilson does not have an interest requiring disclosure under Item 404(a) of Regulation S-K.

In addition, in connection with Mr. Wilson’s appointment as Executive Vice President and Chief Operating Officer, his annual compensation was increased to $450,000 per year.

A copy of the press release announcing Mr. Wilson’s appointment is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01.  Financial Statements and Exhibits

(d)           Exhibits.

99.1         Press release dated June 26, 2008 announcing the appointment of Newton W. Wilson III as Executive Vice President and Chief Operating Officer.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	KEY ENERGY SERVICES, INC.
Date: July 1, 2008	By:	/s/ William M. Austin
		William M. Austin
		Senior Vice President and Chief
		Financial Officer

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Exhibit Index

Exhibit No.	Description
99.1	Press release dated June 26, 2008 announcing the appointment of Newton W. Wilson III as Executive Vice President and Chief Operating Officer.

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EX-99.1

Exhibit 99.1

Key Energy Services, Inc.

News Release

For Immediate Release:	Contact: Bill Austin
Thursday, June 26, 2008	(713) 651-4300

KEY ENERGY ANNOUNCES APPOINTMENT OF

NEWTON W. WILSON III AS EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER

HOUSTON, TX, June 26, 2008 – Key Energy Services, Inc. (NYSE: KEG) announced today that effective June 25, 2008, Newton W. “Trey” Wilson III has been promoted to Executive Vice President and Chief Operating Officer.  Mr. Wilson joined the Company in January 2005 and has served as its Senior Vice President, General Counsel and Secretary.

Commenting on the appointment of Mr. Wilson, Dick Alario, Chairman and Chief Executive Officer, said “In addition to his prior duties, Trey has been a leader in the strategic and operational decisions of the Company, including his heavy involvement with the successful development and execution of our international growth plan. His long history in the E&P sector, a keen knowledge of the energy business and years of experience at the Company uniquely prepare Trey to lead our operating groups to the next level of growth and value for our customers and shareholders. I have the utmost confidence in and respect for Trey and know his leadership will have very powerful and positive impact on all aspects of the Company.”

Mr. Wilson received a B.B.A. from Southern Methodist University in 1972 and a J.D. from the University of Texas in 1975.

Key Energy Services, Inc. is the world’s largest rig-based well service company. The Company provides oilfield services including well servicing, pressure pumping, fishing and rental tools, electric wireline and other oilfield services. The Company has operations in all major onshore oil and gas producing regions of the continental United States and internationally in Argentina and Mexico.

1301 McKinney Street, Suite 1800, Houston, TX 77010