Houston energy co. reviewing strategic alternatives, enters forbearance agreements

Houston-based Key Energy Services Inc. (NYSE: KEG) is analyzing strategic alternatives to address its capital structure and has reached an agreement with lenders to halt default-related actions for now.

The onshore well-servicing contractor hired Moelis & Company LLC as its financial adviser and Sullivan & Cromwell LLP as its legal adviser to assist with the strategic review, according to an Oct. 31 press release. As part of the review, Key will focus on its core areas of operations and exit certain…

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