File No. 333-44677
Rule 424(b)(3)
Key Energy Group, Inc.
Supplement to Prospectus dated February 6, 1998
DRZ Derivatives Securities LLC as Selling Securityholder is hereby offering for
resale $19,000 aggregate principal amount of 5% Convertible Subordinated Notes
due 2004 (the "Notes") of Key Energy Group, Inc., a Maryland Corporation (the
"Company"). The Notes are being offered by, and are being sold through, Bear
Sterns Securities Corp. at a price of $18,810. The Company will not receive any
of the proceeds from the resale of the Notes offered hereby.
_______________________
The date of this Prospectus Supplement is July 23, 1998
