Post #56: Announced Pay Reductions From Chris Havey, Partner, and Ryan McDonough, Consultant, The Woodlands, Texas Meridian is currently tracking announced pay reductions within the oil and gas space. The largest number of reductions to date have been announced in the oilfield services sector. We’re planning on regularly updating this list and re-posting at www.meridiancp.com/insights/energy. Oilfield Services, Exploration and Refining and Storage and Equipment, and Production Marketing Transportation Drilling . Liberty Oilfield Services . Matador Resources . Parkland Fuel . Inter Pipeline salary salary reduction 3/12 salary reduction 3/11 Corporation salary reduction 3/30 (updated 4/2) . Abraxas Petroleum reduction 3/30 . U.S. Well Services salary salary reduction 3/16 . PBF Energy reduction 3/20 . Parsley Energy cash salary/compensation . Apergy Corporation reduction 3/18 reduction 3/30 salary reduction 3/23 . Baytex Energy cash . Gevo salary/LTI . Ensign Energy Services reduction 3/18 reduction 3/31 salary reduction 3/23 . Canadian Natural . FTS International cash Resources salary reduction 3/23 reduction 3/18 . Precision Drilling salary . Occidental Report 3/25 reduction 3/24 . Matador Resources . Secure Energy Services salary reduction 3/26 salary reduction 3/24 . Bonanza Creek Energy . Nabors Industries salary salary reduction 3/28 reduction 3/25 . PEDEVCO salary . Superior Energy salary reduction 3/31 reduction 3/25 . Murphy Oil salary . Calfrac Well Services reduction 4/1 salary reduction 3/27 . Barnwell compensation . Tervita salary reduction reduction 4/2 3/31 . Cenovus Energy salary . Schlumberger salary reduction 4/2 reduction 4/1 . Extraction Oil & Gas . Forum Energy cash reduction 4/2 Technologies salary . Parex Resources salary reduction 4/2 reduction 4/2 . ION Geophysical cash . TransGlobe Energy reduction 4/2 compensation reduction . NCS Multistage salary 4/2 (details in proxy 4/3) reduction 4/2 . Sandridge Energy salary . Patterson-UTI reduction 4/7 compensation reduction . SM Energy salary/LTI 4/2 reduction 4/7 . STEP Energy Services . Kelt Resources salary salary reduction 4/2 reduction 4/9 . Total Energy Services . Transatlantic Petroleum salary reduction 4/2 compensation reduction . Cactus salary reduction 4/9 4/3 . TerraVest salary reduction 4/3 . Independence Contract Drilling cash reduction 4/6 . Trican Well Service cash reduction 4/6 . Vantage Drilling salary reduction 4/6 . Halliburton salary reduction 4/7 . Pacific Drilling salary reduction 4/7 . KLX Energy Services wage reduction 4/8 . Newpark Resources salary reductions 4/8 . Nuverra Environmental Solutions compensation/salary reductions 4/8 . Smart Sand cash reduction/AIP suspension 4/8 . Tetra Technologies salary reduction 4/8 . ProPetro salary reduction 4/9 . Superior Drilling Products salary reduction 4/9 Note: Pay reductions are as of April 9, 2020 Archived copies of previous Energy Insights can be found at www.meridiancp.com/insights/energy. To have your name removed from our Energy Insights email list, please contact [email protected]. .