Halliburton, one of the world’s largest oilfield services companies, is laying off about 130 employees at its office in Fort Lupton.
The company, which provides fracking and other services to the oil and gas industry, said in a notice Monday to Weld County officials that the job reductions will be permanent. It said in the notice that at this time, its Fort Lupton facility is expected to stay open.
Halliburton didn’t respond to questions. The company laid off 178 workers at its Grand Junction facility in October 2019 as part of workforce reductions across the region.
The announcement by Halliburton Energy Services is the among several by oil and gas companies following falling oil prices as demand has dropped during the coronavirus pandemic. A price war started by Saudi Arabia and Russia in early March has also driven down prices and led to an oversupply that threatens to swell beyond existing storage.
It’s unclear how much relief will result from an agreement struck Sunday by OPEC, Russia and other oil producers to cut production by nearly 10 million barrels of oil a day.
Earlier this month, Denver-based Liberty Oilfield Services said it is significantly reducing its workforce in the company’s first-ever layoffs. The company said in a notice filed with the state Department of Labor and Employment said that it was letting go of 183 workers in Adams County, where its Colorado field services are based.
Occidental Petroleum, Colorado’s No. 1 oil and gas producer, and Noble Energy, the No. 2 producer, recently announced cuts in spending and employees’ pay and hours. Denver-based Whiting Petroleum said on April 1 that it is filing for bankruptcy.
In early April, Denver-based Extraction Oil and Gas said it cut its 2020 budget for exploration and production by 42% to a range of $250 million to $300 million.
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