The number of active U.S. hydraulic fracturing fleets, which release oil trapped in shale rock, has tumbled to 365, the lowest since spring 2017, energy consultancy Primary Vision said in a note on Wednesday. U.S. crude futures were trading at $26.85 a barrel on Monday, down about 3% after OPEC+ members delayed a meeting on output cuts. Halliburton said last month it would furlough 3,500 workers in Houston to cope with lower prices.

All quotes delayed a minimum of 15 minutes. They also say the majority of the employees were given the option to relocate.

Halliburton will report its third-quarter earnings on Oct. 21. Spending by U.S. independent producers is projected to fall 11% this year, according to analysts at Cowen and Co. “Making this decision was not easy, nor taken lightly, but unfortunately it was necessary as we work to align our operations to reduced customer activity,” said spokeswoman Emily Mir by email. The layoffs are not an isolated incident even for Halliburton.

U.S. oilfield services firm Halliburton on Wednesday said it was cutting 650 jobs across Colorado, Wyoming, New Mexico and North Dakota amid slowing oil and gas activity.
The company is laying off 650 employees across the Rockies region, including North Dakota, Colorado, Wyoming, and New Mexico. The cuts are in addition to an 8% North American workforce reduction that Halliburton announced earlier this year.

In April, Halliburton closed its Minot offices and transferred workers from there to Williston and Dickinson, North Dakota, although they declined at the time to say how many. They are down 68% year-to-date.

The Houston-based company was the third largest oilfield services firm by revenue last quarter, behind Schlumberger and GE’s Baker Hughes, and the largest provider of hydraulic fracking fleets. It estimates as many as 60 more fleets could be idled before the end of the year. In addition to the salary reductions for executives, Halliburton will suspend certain contributions made to employee retirement accounts, the company said. Halliburton layoffs in region including North Dakota, Mask Mandates in Grand Forks, Devils Lake, National Guard soldier send off ceremony goes virtual, COVID-19 vaccine expected to go to frontline workers first once it’s available, Minot dealership raises more than $10K for Trinity’s Cancer Exercise Rehab, Bismarck man creates COVID-19 memorial for late mother and hundreds of North Dakotans who died with the virus, Adults Adopting Special Kids works to find children homes, Closed Caption Inquiries - (701) 255-5757. “This was a difficult decision, but is necessary action as we face challenging market conditions,” spokeswoman Emily Mir said in a email. Staff cuts could begin this week at its Duncan, Oklahoma, facility, the filing said, and would be permanent. Of the latest cuts, 178 were in Mesa County in western Colorado, according to a filing with the state’s Department of Labor and Employment.
As of the end of last year, Halliburton had about 55,000 global employees. The coronavirus pandemic didn’t stop the Minot community from raising more than $10,000 this past weekend for those recovering from cancer. A Bismarck man created a project to remember his mother and the hundreds more who lost their lives to the novel coronavirus. The facility is expected to remain open. Denver-based hydraulic fracturing firm Liberty Oilfield Services Inc also announced workforce reductions in the past week. They’re similar to the mandates in Fargo and Minot in that they have no penalties attached. All quotes delayed a minimum of 15 minutes.


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