Denver based company Whiting Petroleum announced that they have laid off a third of their employees according to the Greeley Tribune. Total positions cut appear to be around 254 including 94 executive and corporate positions.

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Whiting operates 881 wells in Weld County that produced 563 barrels of oil as of April. The cuts could save a much as $50 million and came as the company announced their second-quarter earnings.

Source: Greeley Tribune