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Fourth Energy Company Plans Layoffs In Oklahoma City, Tulsa

SandRidge Energy explores for and produces oil in shallow, conventional, domestic basins primarily in the Mississippian formation in Northwest Oklahoma and West Kansas.
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For the fourth time in a week, an Oklahoma energy company has announced layoffs because of low oil prices.

Team Oil Tools says it will close its manufacturing facility just east of downtown Tulsa in April and let its 95 workers go. The company makes oil and gas drilling equipment.

PostRock Energy Corp. said Thursday it's reducing staff at its headquarters by about 25 percent and will cut expenses to reduce operating costs by nearly $4 million a year.

The oil producing company had 57 employees at the end of 2013. A precise number of layoffs wasn't released.

On Tuesday, Chaparral Energy announced 121 layoffs. On Monday, SandRidge Energy said it would close the Odessa, Texas, office of its subsidiary Lariat Services Inc. and eliminate 265 jobs.

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