(Reuters) – Chesapeake Energy has laid off 200 employees in Oklahoma, the state said on Wednesday.
Half of the job cuts were at the company’s Oklahoma City headquarters and half were in the oilfield, according to the Oklahoma Office of Workforce Development.
U.S. oil and gas producers and service firms have cut expenses, dismissed tens of thousands of workers and shut-in wells as coronavirus-related lockdowns have curtailed travel and closed businesses, knocking down crude prices by 60% this year.
Chesapeake did not immediately respond to a request for comment.
SandRidge Energy Inc also will lay off 26 employees in Oklahoma City, it said in a Wednesday letter to the state.
Oil field service firms Baker Hughes and Halliburton have also had job cuts announced in Oklahoma this week. Baker Hughes cut 234 employees and Halliburton laid off 33 workers, according to filings with the state.
Chesapeake Energy Corp shareholders on Monday voted in favor of a reverse stock split, a move that is expected to boost the debt-laden shale producer’s share price to avoid a delisting that could trigger calls for some immediate debt repayment.
(Reporting by Jennifer Hiller; Editing by Chris Reese and Jonathan Oatis)
