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Shale Giants Slash Thousands of Jobs as Lower Prices Bite

OilPrice · Irina Slav · last updated
U.S. oil and gas producers seek efficiencies and cost reductions amid lower oil prices this year compared to 2024 levels. Fresh off multi-billion-dollar mergers and acquisitions in the 2023-2024 period, many major producers in the U.S. shale patch are restructuring businesses and operations. The result so far has been a series of announcements and reports of workforce reductions across geographies and basins. The latest such report came this week, by Reuters, which reported a memo it had seen regarding layoffs at the Canadian business of U.S. oil…
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