WildHorse to Lay Off Staff After Chesapeake Acquisition
WildHorse Resources Management Company, which is being acquired by Chesapeake Energy Corporation, is laying off all employees at its Houston headquarters, according to a letter dated Dec. 13, 2018 sent to the Texas Workforce Commission (TWC).
According to the TWC, 94 employees will lose their jobs on the date of the closing of the Chesapeake deal, expected to happen between Feb. 1 and Feb. 14.
If the closing date is prior to the date that is 60 days after Dec. 13, 2018, (or prior to Feb. 11), then affected employees that have remained through the closing date will be provided supplemental payment and benefits during the period beginning on the date that immediately follows the closing date and Feb. 11, the letter states.
The Houston office of WildHorse will be closed and all layoffs will be permanent. Affected employees will not be able to retain their jobs by displacing or bumping another employee.
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