Chief operating officer Paul Mosvold told Upstream that Scandrill will be laying off 50 people within the next month, with more jobs likely cut later in the year.
It is a last resort for the East Texas driller, which has already dropped its dayrates by about 15% and cut salaries by 8% for every employee.
“Obviously we need a little bit more than break-even, but we are willing to do that,” Mosvold said.
