Oil, Gas Companies Lay Off More Workers in Texas
Offshore drilling contractor Transocean Ltd. is laying off up to 80 offshore employees who work in the Gulf of Mexico, according to information communicated to the Texas Workforce Commission (TWC).
Due to stacking of the Development Driller III (UDW semisub) because of market conditions, Transocean began laying off between 70 and 80 workers Jan. 16. While the company may recall some of the laid off workers from the Development Driller III if a contract is secured, the layoffs are expected to be permanent. Affected employees will receive severance packages.
Swift Energy Co., an independent oil and natural gas company, is laying off 56 workers at its headquarters in North Houston. The company told the TWC layoffs will begin March 11.
Swift Energy emerged from Chapter 11 bankruptcy April 25, 2016. Less than four months later, the company’s CEO and CFO retired. Robert J. Banks has served as the interim CEO since October 7, 2016.
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