In this week's news update, Texas companies announce more downsizing in the near future, and a company plagued with equipment theft recovers its stolen trucks
Employees at F2 Oilfield Services were thankful for GPS devices following a string of vehicle thefts from the company’s yard in Bridgeport, Texas.
From July 1 through Sept. 7, F2 Oilfield had a total of four work trucks stolen from its lot. The latest thefts happened Sept. 7 when three company vehicles — a flatbed and two pickups — were reported missing by employees early that morning.
According to the Green County Sheriff’s Department, one vehicle was stolen at 2:20 a.m. Sept. 7, while another was taken at 3:40 a.m. and the last one at 5:40 a.m. The suspects drove the vehicles through the fence surrounding the lot.
The vehicles and suspects were found the same day by using the GPS systems in the trucks. Two suspects, both juveniles, had obtained entry into a lockbox where the keys were located. Neither worked for the company.
Damage done to each vehicle is estimated at $14,000.
More Job Cuts Announced in Texas
Another wave of job cuts are expected throughout the oil and gas industry in Texas as several companies announced a combined 700-employee reduction in upcoming months.
ConocoPhillips recently announced a 10 percent reduction it its workforce, meaning 500 positions will be cut in the Houston area.
In East Texas, Bronco Oilfield Services announced that it is planning to layoff 52 employees by the end of October and close its facility in Longview. Employees there will be offered severance packages.
Cameron Interational — which agreed recently to a buyout by Schlumberger — announced plans to cut 150 staff members over the next four months at its Brittmoore facility in Houston.
Cameron stated that “the current declining business conditions” are the reason behind the cuts.