Email
Print 
Bookmark
Bonanza Creek Energy, Inc. announces it has reduced its workforce by 26 employees and 17 contractors. The reorganization aligns its employee base and general and administrative cost structure with the current commodity price environment and resulting anticipated activity level.
William J. Cassidy, Executive Vice President and Chief Financial Officer, and Christopher I. Humber, Executive Vice President, General Counsel and Secretary, will separate from their positions with the Company.
Mr. Cassidy joined the Company in 2013 and served as its Executive Vice President and Chief Financial Officer.
Mr. Humber joined the Company in 2012 as its Executive Vice President, General Counsel and Secretary immediately following its initial public offering.
As a result of the reorganization and executive departures, the Company will incur a one-time charge of approximately $2.1 million related to severance payments, and expects its annual general and administrative expense and lease operating expense to be reduced by approximately $7.6 million and $3.1 million, respectively.
Related Categories :
Job Cuts / Downsize / Layoff
More Job Cuts / Downsize / Layoff News
-
Exxon to Cut Corporate Workforce 5-10 Percent Annually
-
Marathon Trims Workforce by 100 Employees (5%), Reduces Exec Pay
-
Shell to Cut 700 Workers As It Shutters Louisiana Refinery
-
Parsley to Lay Off Austin Team as Part of Merger with Pioneer
-
Exxon to Cut 700 Houston-Based Employees from Workforce
Rockies News >>>
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Contrary to The Noise, U.S. Oil Production will Likely Growth 4-5% In 2024; A look Inside -
-
Devon Said To be In Talks to Acquire Enerplus
-
Chevron To Cut D&C Activity in U.S. Shale In 2024; Here is Where. -
-
An Early Look at Company 2024 Capital & Development Plans
