Denver, Colorado-based Crestone Peak Resources, a domestic oil, and gas producer, has announced the company is laying off 159 employees, including 56 at its Denver headquarters, 90 at its operations center in Firestone, Colorado, 13 based elsewhere near Denver. Layoffs are scheduled for October 15, 2021, to coincide with the acquisition's final approval and closing.
The decision was driven by the acquisition of Crestone Peak Resources by Denver, Colorado-based Civitas Resources, recently formed by the merger of Bonanza Creek Energy Inc and Extraction Oil & Gas Inc.
Civitas itself is being created to consolidate oil and gas operations in the Denver-Julesburg Basin in response to regulatory restrictions and operational economies of scale. Many of the layoffs were duplicative positions across the three companies.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?