Noble Energy Cuts 70 Colorado Jobs

Noble Energy says it is cutting 70 jobs in Colorado.

The Houston-based firm chopped 230 jobs last spring nationwide, according to the Denver Business Journal.

Some thought the price of oil would rise since then but it's been hovering around $50 a barrel—half of what it was during the summer of 2014. That is leading to more job cuts.

In November, Noble announced a loss of $283 million during its third quarter of business. The company is in the process of curbing capital spending and exploration activity.