Denver O&G company lays off 20 in Weld County as part of statewide cuts

DENVER — Extraction Oil & Gas Inc. (Nasdaq: XOG) is laying off 20 employees in Weld County in a statewide downsizing that will reduce its staff by 20 percent overall.

Company spokesman Brian Cain confirmed the cuts to BizWest, which include employees in the Denver headquarters and in field offices. He did not say how many of the cuts were in administrative roles or in oilfields.

“This week, we reorganized our workforce into a more streamlined structure that better matches our operational footprint here in Colorado. Unfortunately, this resulted in difficult but necessary organizational changes,” he said.

Extraction produced 16.24 million barrels of oil and 84.9 million MCFs of natural gas in Weld County last year, according to data from the Colorado Oil and Gas Commission. The company also filed a lawsuit this week against a contractor regarding a 2017 explosion at a well in Windsor.

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