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Tag Archives: layoffs

Despite warning, Murray Energy says no layoffs expected

LOUISVILLE, Ky. (AP) — Coal giant Murray Energy says it’s not expecting to lay off any of the 4,400 miners in six states who recently received notice that they could lose their jobs. A news release from the St. Clairsville, Ohio, company says “no layoffs are contemplated or expected at this time.” CEO Bob Murray told The Associated Press on ...

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Oklahoma City-based Kimray Inc. announces more layoffs

Kimray

OKLAHOMA CITY (AP) — An Oklahoma City-based company that makes equipment used in oil- and gas-fields will lay off 120 employees by the end of the week. The layoffs at Kimray Inc. announced Monday come after the company laid off 65 employees in March. Another 128 employees accepted voluntary buyouts in 2015. The latest cuts will leave the company with ...

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Top Eagle Ford news stories: May 6-13

Eagle Ford news

Recap the top Eagle Ford news stories that graced our pages this week. Layoffs and legal struggles earned the top two spots in this week’s list. 5. Colorado bracing to repay millions in energy taxes DENVER (AP) — Colorado will have to cough up hundreds of millions in tax refunds to energy companies over the next couple years. And state ...

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More Texas jobs lost as oil bust continues

More Texas jobs lost to oil bust

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission. Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be ...

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Energy sector movers, losers, and news: Investors cheer while employees mourn big layoffs

This week major companies including Whiting, Marathon, and Halliburton announced restructuring and layoffs that have caused stock prices to increase. Whiting Petroleum Corp. (NYSE: WLL) opened Friday Feb. 26 at $3.53 per share and is up 11 percent today, trading at $3.92 after closing at its low yesterday. Whiting announced plans to freeze new fracking and well completions effective April ...

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Devon Energy to lay off 1,000 workers, 700 in Oklahoma City

Devon Energy to lay off 1,000 workers, 700 in Oklahoma City

OKLAHOMA CITY (AP) — Oklahoma City-based Devon Energy has announced plans to lay off about 1,000 employees — including about 700 in Oklahoma City. The oil and natural gas company said in a statement Tuesday that the layoffs are due to “the current commodity price environment” and an effort to reduce expenses in order to remain financially flexible and competitive. ...

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Shell reports 44 percent drop in 4Q earnings

Shell reports 44 percent drop in 4th quarter earnings

LONDON — Royal Dutch Shell said fourth-quarter earnings tumbled 44 percent as the collapse in oil prices took its toll on another European oil company. Profit adjusted for changes in the value of inventories and one-time items dropped to $1.83 billion from $3.26 billion in the same period a year earlier, the Anglo-Dutch energy giant said Thursday. The results came ...

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Top 5 Eagle Ford stories of the week

Good news and bad news. That summarizes the most-read stories on Eagle Ford Texas this week. The top headlines featured million-dollar business deals and a brighter outlook for natural gas producers. However, several major energy companies downsized in an attempt to cut costs and streamline business. 5. Consumption will drive natural gas prices up: EIA Natural gas prices are expected to rise, ...

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Spate of layoffs sweeps energy industry

Spate of layoffs sweeps energy industry

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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Schlumberger reports big 4Q loss, says cut 10,000 more jobs

Schlumberger reports big 4Q loss, says cut 10,000 more jobs

HOUSTON — Schlumberger said Thursday that it lost more than $1 billion and slashed another 10,000 jobs in the fourth quarter as tumbling energy prices took their toll on the world’s largest oilfield services company. Like others in the industry, Schlumberger NV has been hard hit by the downturn in the energy sector and it warned that it doesn’t expect ...

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