Swift Energy, Transocean lay off dozens of Texas employees

Two prominent Gulf Coast employers, Swift Energy Operating and Transocean Offshore Deepwater Drilling, will lay off dozens of employees this month, according to the Texas Workforce Commission.

Transocean, a Switzerland-based contractor with its main U.S. offices in Houston, laid off 80 employees on Jan. 16, according to information the company submitted to the Workforce Commisison.  Swift Energy, which emerged from Chapter 11 bankruptcy in April, told the state it plans to lay off 56 employees on March 11.

Last year, Swift’s CEO and chief financial officer announced their plans to retire four months after the company emerged from bankruptcy. Chief Executive Terry Swift, the son of Swift’s founder Aubrey Swift, retired in October and was replaced with Robert Banks as interim CEO. Swift did not immediately return a request for comment.

Transocean decided to idle one of its deepwater rigs due to current market conditions, said Pam Easton, a spokeswoman.

 

 

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