Key Energy Services Inc (KEG): Contrarian Capital Reports 11.8% Passive Stake

Page 2 of 8 – SEC Filing

CUSIP No. 49309J103				13G	Page 2 of 7
1	NAME OF REPORTING PERSON Contrarian Capital Management, L.L.C.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:		5	SOLE VOTING POWER – 0 –
		6	SHARED VOTING POWER 2,376,935
		7	SOLE DISPOSITIVE POWER – 0 –
		8	SHARED DISPOSITIVE POWER  2,376,935
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,376,935
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.8% (1)
12	TYPE OF REPORTING PERSON IA

(1) Based on a total of approximately 20,084,901 shares of Common
Stock (as defined below) of Key Energy Services, Inc. (the “Issuer”) outstanding as of December 15, 2016, as
reported on the Issuer’s Form 8-K filed with the Securities and Exchange Commission (the “Commission”)
on December 15, 2016.