Noble Energy Lays Off 180 Employees
Natural gas exploration and production company Noble Energy, Inc. eliminated 180 positions Tuesday, primarily in the United States.
According to an emailed statement from Noble Energy to Rigzone, the company “announced that it is adjusting the size of its organization to reflect anticipated activity levels and the ongoing price environment while preserving long-term opportunities.”
Of the 180 positions cut, 60 were in Texas, which includes the Houston headquarters, Permian Basin and Eagle Ford Shale operations.
Additionally, 45 positions were eliminated in Denver, 25 positions were eliminated in Greeley, Colo., 45 positions were eliminated in the Marcellus and five positions were eliminated elsewhere.
Following the layoffs, Noble now has approximately 2,400 employees companywide.
“As we approach 2016, we intend to be cash flow neutral while maintaining long-term operational capacity,” Noble added. “Our diverse portfolio offers exceptional investment options, and we will continue to focus capital allocation on activities that best deliver overall returns and value.”
WHAT DO YOU THINK?
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.
- Fault at Israel's Tamar Gas Field Prompts Use of Dirtier Fuels (Sep 22)
- Leviathan Partners in Talks to Pipe Gas to Egypt Via Jordan (Aug 10)
- Deal Of The Month: Noble Energy Marches Out of Marcellus in Full $1.9B Exit (May 31)