HOUSTON, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Key Energy Services, Inc. (OTC: KEGX) announced today that President and Chief Executive Officer Rob Saltiel has resigned from the Company including his position on the Key Board of Directors effective December 30, 2019 to pursue other opportunities.

Chairman of the Board Phil Norment commented, “We extend our gratitude to Rob for his leadership of the Company during these challenging times. Rob played a key role in the Company’s recent cost reduction initiatives, exiting certain operations and areas in order to focus on key markets, as well as reducing overhead costs. These initiatives will assist the Company in the restructuring of its balance sheet and help position it for future success. We wish Rob all the best in his future endeavors.”

The Company also announced today that the Board has appointed J. Marshall Dodson as interim Chief Executive Officer while the Nominating and Governance Committee conducts a search process to select a new Chief Executive Officer. Mr. Norment remarked, “The Board believes Key is in good hands with Marshall as we continue our discussions with our lenders regarding Key’s capital structure.” Mr. Dodson joined Key in 2005 and currently serves as its Chief Financial Officer.

About Key Energy Services

Key Energy Services is the largest onshore, rig-based well servicing contractor based on the number of rigs owned. Key provides a complete range of well intervention services and has operations in all major onshore oil and gas producing regions of the continental United States.