DOJ Closes FCPA Investigation into Key Energy Services Without Prosecution; SEC Negotiations Continuing

Key Energy Services

On April 28, Key Energy Services, an onshore, rig-based well servicing contractor with operations in the United States, Mexico, and Russia, announced that the DOJ had closed its investigation into possible violations of the FCPA in relation to the company’s Mexico operations and declined prosecution. The company stated that it is still in negotiations with the SEC regarding possible violations involving the company’s Russian business. Key Energy Services has been under investigation by the SEC and DOJ since 2014, when the company made a voluntary disclosure to both agencies about the Mexico allegations.