Rockhopper Reducing Headcount, Directors’ Salaries

Oil and gas company Rockhopper, with a share in the Sea Lion project off the Falkland Islands, has announced a set of cost-cutting measures which include headcount reductions, and directors’ salary reduction.

The company said Tuesday that due to the “external events affecting the sector” – meaning low oil prices and the pandemic – it would further reduce ongoing G&A costs and re-balance executive director remuneration from cash to equity “while ensuring retention of key staff, capabilities, and knowledge within the business.”

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