SandRidge Energy Subsidiary in Oklahoma Cuts Hundreds of Jobs

SandRidge Energy Inc., an oil and natural gas exploration and production company based in Oklahoma City, announced Jan. 13 the closing of a large portion of its oilfield services subsidiary Lariat Services. This will result in the layoffs of 226 employees, or about 87 percent of the 260 employees in its Northwest Oklahoma office.

In an emailed statement to Rigzone, SandRidge spokesperson David Kimmel said “the decision to close a significant portion of Lariat Services was a difficult, but necessary one, driven by the unprecedented environment currently facing our entire industry.”

Kimmel also cited “significantly lower drilling budgets and associated well counts across the sector” for creating “an unsustainable market for Lariat’s operations.”

Oilfield services companies have been hit particularly hard since the beginning of the oil and gas industry downturn and 2015 saw more than 250,000 oil and gas jobs lost globally.  

The Lariat Services layoffs do not include any SandRidge personnel.

Valerie is an experienced writer and editor dedicated to providing useful and relevant career news about the oil and gas industry. Email Valerie at valerie.jones@rigzone.com

WHAT DO YOU THINK?

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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Valerie Jones
Editor, Careers | Rigzone
 -  After Merger, Refiner Delek to Lay Off... (May 22)
 -  InvestKL Continues Efforts to Attract ... (May 18)
 -  Moving the Oil, Gas Industry Forward i... (May 16)
 -  Oil, Gas Industry Responds to the Gend... (May 11)
 -  BLOG: Retail Perceived More Positive t... (May 11)


Most Popular Articles

From the Career Center
Jobs that may interest you
Administrative Assistant I - Plant
Expertise: Secretarial or Administrative
Location: Kermit, TX
 
United States Farmington: Entry Level to Senior Administrative Associate
Expertise: Secretarial or Administrative
Location: Farmington, NM
 
Lead Training Advisor Mozambique LNG
Expertise: HR - General
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $53.87/BBL 0.48%
Light Crude Oil : $50.73/BBL 0.79%
Natural Gas : $3.33/MMBtu 2.14%
Updated in last 24 hours