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UPDATE 1-Devon Energy cuts 15 percent of staff in Canada

Published 2015-10-28, 03:35 p/m
© Reuters. UPDATE 1-Devon Energy cuts 15 percent of staff in Canada

(Adds quote, details of Devon projects)
CALGARY, Alberta, Oct 28 (Reuters) - Oil producer Devon
Energy Corp DVN.N has cut around 200 jobs, or 15 percent, of
its staff in Canada following a significant reduction in capital
spending, a company spokeswoman said on Wednesday.
There are approximately 1050 Devon employees remaining in
Canada, spokeswoman Nadine Barber said, adding the layoffs were
completed on Wednesday.
A prolonged slump in global crude prices has triggered tens
of thousands of job losses in the Canadian oil and gas industry
as companies try to rein in spending.
The Devon layoffs come after the completed expansion of the
Oklahoma-based company's Jackfish oil sands project in northern
Alberta, which has ramped up to around 75,000 barrels per day.
In total, Devon produces 98,000 bpd in Canada.
"In the past two years, Devon has seen a significant
reduction in capital spending in Canada as major projects, like
Jackfish, have been completed. We expect capital to remain at
lower-than-historic levels for the foreseeable future," Barber
said.
Earlier on Wednesday Calgary-based MEG Energy said it had
cut around 30 percent of its workforce over the past year in a
bid to cope with slumping crude prices. urn:newsml:reuters.com:*:nL3N12S366

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