The Oklahoma City-based independent said it would let go 226 employees at Lariat – about 87% of the total workforce.
“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,” spokesman David Kimmel said. “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.”
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