Oil producer Whiting cuts 254 jobs
It’s unclear how many of those positions are in North Dakota, and a company spokeswoman declined to offer further comment beyond a statement.
The Denver-based company operates primarily in the Bakken and Three Forks, as well as in the Niobrara shale play of northeast Colorado. State data shows Whiting has more than 1,500 active oil and gas wells in North Dakota, and the company says it added 50 wells in the Williston Basin during the second quarter of the year.
The job losses represent one-third of Whiting’s workforce; 94 of the jobs were executive or corporate positions.
The cuts come as an effort to save costs, and they are part of a companywide restructuring, Whiting President, Chairman and CEO Bradley Holly said in the statement.
“The decision to reduce headcount is always a difficult one as it impacts talented colleagues and friends, but it is a necessary step in our company’s transformation,” he said. “I want to express my sincere appreciation for the employees affected by today’s announcement and their many contributions to Whiting.”
Whiting estimates the changes will save the company $50 million annually.