Chesapeake Energy lays off 200 Oklahoma employees (updated)

SandRidge Energy

16/04/2020 21:56

(Adds detail on other Oklahoma layoffs)
    April 16 (Reuters) - Chesapeake Energy  CHK.N  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  CLc1  by 60% this
year.
    Chesapeake did not immediately respond to a request for
comment.
    SandRidge Energy Inc  SD.N  also will lay off 26 employees
in Oklahoma City, it said in a Wednesday letter to the state.
    Oil field service firms Baker Hughes  BKR.N  and Halliburton
 HAL.N  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.
 urn:newsml:reuters.com:*:nL3N2C11TF

 (Reporting by Jennifer Hiller
Editing by Chris Reese and Jonathan Oatis)
 ((Jennifer.Hiller@thomsonreuters.com; +1 713 210 8538;))