ConocoPhillips confirms up to 25 per cent workforce reduction

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Stock image of a pump jack in a Canola field on the banks of the Red Deer River valley. ConocoPhillips has confirmed it will reduce its global workforce between 20 and 25 per cent. (David Thielen/Unsplash)

FORT ST. JOHN, B.C. — Energy company ConocoPhillips will trim up to a quarter of its workforce as the year draws to a close.

The company’s director of media relations and crisis communications, Dennis Nuss, confirmed the reduction will be between 20 and 25 per cent of its global workforce, including employees and contractors.

What is not known is the number of workers who will be let go in the Peace region, as Nuss said the company “will not be sharing area-specific workforce numbers for current or impacted employees and contractors.”

“We are always looking at how we can be more efficient with the resources we have,” said Nuss in a statement.

Nuss did say the majority of the dismissals will take place in 2025.

The company has an office in Fort St. John and a presence in the Montney Formation, a stretch of 130,000 square kilometres encompassing parts of northeastern British Columbia and northwestern Alberta.

According to the company’s 2024 annual report, ConocoPhillips “operated two rigs with 33 wells drilled” with an additional 27 operated wells “brought online,” drilling a combined 42 million barrels of oil equivalent daily.