The largest natural gas company in Garfield County announced layoffs on Monday. WPX is eliminating 11 of 231 positions at its office in Parachute. Twenty-five employees at the company’s Denver office are also losing their jobs. Company-wide, WPX is laying off 83 people. It operates in three major basins: in New Mexico, North Dakota and Colorado.
In a statement on the WPX website company CEO Rick Muncrief says, “These are tough decisions that impact good people – people who have worked hard and done their best for WPX. We do not take that lightly.”
Low commodity prices are impacting the company’s bottom line. In January, they announced a slow-down of operations in Western Colorado. WPX has 4500 producing wells in the Piceance Basin.