OKLAHOMA — A SandRidge Energy subsidiary announced Wednesday, Jan. 13 that it has laid off 226 employees from its northwestern Oklahoma office.
The layoffs affected 226 of the 260 Lariat Services employees. That totals to about 87% of the workers from the Alva and Cherokee area.
SandRidge released a statement:
“The decision to close a significant portion of Lariat Services was a difficult, but necessary one, driven by the unprecedented environment currently facing our entire industry. While the performance of the Lariat employees in the face of extremely difficult circumstances has been exceptional, significantly lower drilling budgets and associated well counts across the sector have created an unsustainable market for Lariat’s operations.”
The Lariat Rentals group, Flare organization and Electrical unit will remain operational, according to Director of Communications David Kimmel.
Reports say no SandRidge personnel were released from employment.