Key Energy Services Inc. said Dec. 30 President and CEO Rob Saltiel has resigned after roughly a year with the Houston-based company.

Similar to other oilfield service providers, Key has struggled within the past year due to slowing growth in the maturing U.S. shale industry and spending cuts by operators.

Key, the largest onshore, rig-based well servicing contractor based on the number of rigs owned, recently had its common stock delisted from the New York Stock Exchange due to its failure to maintain an average global market capitalization over a consecutive 30 trading-day period of at least $15 million. The company also entered into an extension of its forbearance agreements with debt lenders in early December.

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