KEY ENERGY RENEWS ARNOLDSBURG LEASE - Company Still Searching For New Site

(06/18/2004)

Key Energy of Arnoldsburg, one of Calhoun's largest employers, will not be leaving the county for at least another year, according to Ron Lane, who leases the operations site to the oil and gas service company. Lane said Key has leased his property for one additional year starting in September, although the company is still looking for a new location. The company, which employees about 140 people at the Arnoldsburg center, has been at that location for five years. Key announced earlier they would be moving their operations to a site close to the interstate in Kanawha County, saying they would not renew their lease with Lane which expired at the end of August. While most employees would have been able to transfer their jobs, several local workers would have likely lost their jobs. Key is based in Midland, Texas and has 8,000 employees world-wide. The company says it offers clients the most comprehensive and advanced array of onshore energy production services available from a single company. The company has an annual revenue of $1 billion.

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