Newfield Exploration announces layoffs

Posted at 11:09 AM, May 11, 2016
and last updated 2016-05-11 12:09:54-04

TULSA (AP) -- Texas-based Newfield Exploration Co. has announced plans to lay off about 50 employees in Tulsa and to move about 150 more Tulsa employees to its headquarters in The Woodlands.

Newfield spokeswoman Cindy Hassler told reporters Tuesday that the moves are due to low oil and natural gas prices and that fewer than 10 employees will remain in the Tulsa office. She said the employees being laid off are primarily in accounting, marketing and record-keeping and will be given undisclosed severance packages.

Newfield has about 200 employees in Tulsa.

Newfield announced May 5 that it's buying 42,000 acres in the Andarko Basin STACK play from Chesapeake Energy Corp. for $470 million.

The company plans to keep open field offices in Okarche, Lindsay and McAlester.