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A private equity firm that specializes in shale drilling fired 111 people at its Houston headquarters. (Bloomberg) EnerVest Ltd., a private equity firm that specializes in shale drilling, fired 111 people at its Houston headquarters, citing “challenging times for the industry.” The job cuts were made “in an effort to right-size our company and ensure a successful future,” company spokeswoman Lindsey Welch said in an email on Monday. EnerVest sold its Eagle Ford Shale wells and drilling rights in 2018 for $2.4 billion in a transaction that created Magnolia Oil & Gas Corp. Under the terms of that deal, EnerVest operated the assets on behalf of Magnolia, which is led by former Occidental Petroleum Corp. Chief Executive Officer Stephen Chazen. A Magnolia spokesman declined to comment.

United statesEagle fordLindsey welchStephen chazenMagnolia oil gas corpBloomberg enervest ltdOccidental petroleum corpEvest ltdEagle ford shaleMagnolia oilOccidental petroleumChief executive officer stephenOil and gas petroleum news events stories articles analysis commentary headlines stocks finance commodities maps picturesஒன்றுபட்டது மாநிலங்களில்கழுகு ஃபோர்ட்லிண்ட்சே வெல்ச்