Devon Energy Cuts 15% Of Staff In Canada


CALGARY, Alberta, Oct 28 (Reuters) - Oil producer Devon Energy Corp has cut around 200 jobs, or 15 percent, of its staff in Canada following a significant reduction in capital spending, a company spokeswoman said on Wednesday.

There are approximately 1050 Devon employees remaining in Canada, spokeswoman Nadine Barber said, adding the layoffs were completed on Wednesday.

A prolonged slump in global crude prices has triggered tens of thousands of job losses in the Canadian oil and gas industry as companies try to rein in spending.

The Devon layoffs come after the completed expansion of the Oklahoma-based company's Jackfish oil sands project in northern Alberta, which has ramped up to around 75,000 barrels per day.

In total, Devon produces 98,000 bpd in Canada.

"In the past two years, Devon has seen a significant reduction in capital spending in Canada as major projects, like Jackfish, have been completed. We expect capital to remain at lower-than-historic levels for the foreseeable future," Barber said.

Earlier on Wednesday Calgary-based MEG Energy said it had cut around 30 percent of its workforce over the past year in a bid to cope with slumping crude prices.

(Reporting by Nia Williams; Editing by Chizu Nomiyama and Christian Plumb)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Sr Recruiter Mozambique Project Lead
Expertise: HR - General
Location: The Woodlands, TX
Records Manager
Expertise: Document Control
Location: Hanover, MD
United States San Antonio/Elmendorf: Entry Level Administrative Associate
Expertise: Secretarial or Administrative
Location: Elmendorf, TX
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours