- Associated Press - Friday, August 5, 2016

BILLINGS, Mont. (AP) - Billings’ energy sector is set to lose around 100 jobs as SM Energy announced it would close its office in the city as part of a plan to sell oil and gas operations in other states.

The Billings Gazette reports (https://bit.ly/2aZsJ49 ) that a spokeswoman for the Denver-based company, Patty Errico, says the Billings office will shut down Nov. 1. She says there will be opportunities for affected workers to relocate to other SM Energy offices.

News of the closure comes as the company showed a net loss of $30 million, or 44 cents per share, in its second quarter results this week.

The company announced Monday it had reached an agreement to sell “non-core assets” to unnamed buyers for $172.5 million in New Mexico, Montana and North Dakota.


Information from: The Billings Gazette, https://www.billingsgazette.com

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