With more than $3 billion debt, Oklahoma City-based SandRidge Energy is not only battling Oklahoma regulators in the fight over saltwater injection wells but tumbling oil prices and the impact on the viability of the company. Its cutback in oil and gas rigs and layoffs of workers not only affected Oklahoma but Kansas too where it was considered a major player in the Sunflower state.
The company just recently was delisted from trading on the New York Stock Exchange and over-the-counter trading is now down to pennies. The layoffs of 226 of its 260 employees at Lariat Services should be no surprise since it was in January 2015 when SandRidge laid off 265 Lariat Services workers at its operations in Odessa, Texas. Months later, the company sold its buildings and land in Odessa.
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