Another energy company is leaving the Denver area, and it’s taking about half of its jobs with it, the Denver Business Journal reports. Pioneer Natural Resources announced yesterday that it will close its Denver office and cut about 100 jobs at its Trinidad field office “as a result of continued weakness in natural gas prices and the recent collapse of crude oil and natural gas liquids prices.”
About one-third of employees at the Denver office have the option to relocate to Pioneer’s headquarters in Dallas; the company will offer others severance packages and assist with other jobs placement.
“Decisions to right-size our workforce are never easy, as we know they impact good people and the communities in which they live,” said Pioneer President and COO Tim Dove. “These employees have worked hard for Pioneer, and we place a great deal of value on their efforts. These decisions are an unfortunate reality of the price environment that we face today.”
Pioneer ran more than 2,000 wells in Colorado in 2013, but does not currently operate any drilling rigs in the state.