Houston oil field services co. extends negotiations with creditors

Houston-based Key Energy Services Inc. (NYSE: KEG) has extended agreements with its creditors, staving off the consequences of default until next year.

Key started a strategic review to try to find a solution to problems with its capital structure in late October, and it decided not to make an interest payment due earlier in the month as part of that. The company put forbearance agreements in place with its creditors that prohibited them from taking action on the resultant default until Dec. 6,…