E&P Salary Report Matches Growing Stability In Industry

The oil and gas industry is making a strong recovery from the downturn and an indication of the bounce back is the uptick in salaries, according to CSI Recruiting’s 2018 E&P Salary Report. The salaries, particularly for engineers, are not quite as strong as they once were, but CSI Recruiting’s president, Jeff Bush, said the numbers are moving in the right direction. CSI Recruiting polled 2,900 professionals in the U.S. who are currently employed in full-time, salaried positions within E&P operators. For the skill sets of reservoir engineers, drilling engineers, production/operations engineers and engineering technicians/analysts, the overall average salaries improved from 2017 in all but drilling engineers. […] Read Full Article Here:

Oil and gas workers still mainly old white males despite diversity gains: study

A new study shows that Canada’s energy sector workforce became larger and more diverse from 2006 to 2016, but remains predominantly the domain of older, white men. PetroLMI says the number of people directly employed in oil and gas grew by about 25,000 to almost 190,000 over a tumultuous decade that included booming growth due to record high oil prices and thousands of layoffs when prices crashed. Read Full Article Here:

Petrofac boss says digital revolution can bring ‘whole world’ of oil jobs – News for the Oil and Gas Sector

Petrofac’s John Pearson believes the digital transition can better the life of those working in oil and gas by offering “a whole world” of new jobs. Speaking at the Future Oil and Gas Conference in Aberdeen, Mr Pearson said that a digital world will not “limit” workers to jobs which are merely local, but worldwide. … Read Full Article Here:

BIG OIL BOOMS: Texas Truck Drivers Make $140k, Forces Rising Wages in Other Industries

Big Oil is having an incredible impact, again, in Texas. Midland, TX is experiencing such a booming shale-oil economy that truck drivers are making more than $100,000. In turn, smaller businesses are forced to either raise their wages or extend hours to retain workers. But, this successful economy has what some say are a few downsides as well. With increased wages comes increased rents and labor shortages in public positions. Regardless, the region’s industry is providing bevy of economic benefits that could last for a very long time, reports the Los Angeles Times. Midland has an astoundingly low 2.1% unemployment rate due to the success of companies such as Chevron and Aveda Transportation & Energy Services Inc. Thanks to recent technology developments and decreased regulations, a swa...

Some Permian Basin workers get 100 percent pay raises as oil boom creates labor shortage

Jerry Morales, the mayor of Midland, Texas, and a local restaurateur, is being whipsawed by the latest Permian Basin shale-oil boom. It’s fueling the region and starving it at the same time. Sales-tax revenue is hitting a record high, allowing the city to get around to fixing busted roads. But the crazy-low 2.1 percent unemployment rate is a bear. As the proprietor of Mulberry Cafe and Gerardo’s Casita, Morales is working hard to retain cooks. As a Republican first elected in 2014, he oversees a government payroll 200 employees short of what it needs to fully function. “This economy is on fire,” he said from a back table at the cafe the other day, watching as the lunchtime crowd lined up for the Asian Zing Salad and Big Mo’s Toaster hamburger. […] Read Full Article Here: https://www.dallas...

Glut of Unemployed Petroleum Engineers, Geologists Shrinks by 12.5% – Report – Oil & Gas 360

Oil hiring swells in Texas, U.S. oilpatch Oil prices reached their highest point since December 2014 and companies in the oil and gas industry are hiring accordingly as activity in the industry picks up. LinkedIn’s workforce report for June details a year-over-year rise in hiring of 5.2%. The report details the strong correlation between oil prices and hiring within the industry.[Read More…] Read Full Article Here:

Managing millennials in the oil and gas industry

In recent years amid low commodity prices, oil and gas companies have had to reduce their headcount to lower costs, while continuing to build their talent pipeline for future success. As a result, the number of people employed in oil and gas extraction over the age of 45 fell by 19 percent between 2012 and 2017, while employees between 25 and 34 – often classified as millennials – were the only age group to grow. With this rapid change, oil and gas companies face a new challenge: managing and retaining an influx of younger workers. It’s no surprise that personal differences – age, gender, ethnicity and background – can all play a role in creating different expectations of employers. […] Read Full Article Here:

Texas Oil And Gas Is Facing A Worker Shortage from Houston Public Media

A Texas oil and gas regulator says the industry can’t hire enough workers largely because of public perception. Railroad Commissioner Wayne Christian spoke at state house hearing on Wednesday. “The biggest threat is the misunderstanding of the oil and gas industry and the acceptance of the politically correct-driven, environmental, anti-oil and gas science,” explained Christian. […] Read Full Article Here:

Despite Oil Rebound – Devon Energy Laying Off 9 Percent of Staff.

Despite the recent oil and gas industry rebound, on Tuesday Devon Energy Corp said it would lay off 300 workers, roughly 9 percent of staff, part of a plan to streamline operations and boost the shale oil producer’s sagging returns and stock price, as reported by Reuters. Devon shared in a statement to Reuters that the cuts will be let go in “in the weeks ahead,” and that it will affect all areas of the companies operations, not just corporate staff, or field staff. With the goal of boosting their stock price and revenue, the company saw immediate support from the street with a 7 percent bounce in stock price. Devon told Reuters it expects the cuts to help save $150 million to $200 million by 2020. “The company must continue to sharpen its focus on core operations, increa...

Oil Prices Are At A Crossroads – Is Art Berman Sounding The Alarm?

Art Berman was highlighted in a shared article a few weeks back here on Oilconvo, and he’s contributed articles from Forbes and other publications. In his most recent article Art is highlighting the recent swings in WTI – from a 3 year high at $66, then dropping to $59.19 in a matter of days, only to see it recover 70%. I won’t try and summarize his entire article as it’s worth a read, links provided below. What I like most about the article is a simple truth. Through all of the data there is a warning or caution, one that I agree with. The IEA and EIA have indeed promoted a widespread belief that U.S. tight oil production will surge in 2018 and 2019. Some estimates have put the US as the potential largest oil producer in the world in the near future. Producers and analysts claim...

Texas oil trade group sees investment pickup in 2018

A trade group in Texas said 2018 looked good for the oil and gas business, with investments trickling down to the coastal and manufacturing sectors. Texas is the No. 1 oil producing state in the country and home to some of the most lucrative shale basins, notably the Permian reservoir. The state’s economy was hobbled by the downturn in the energy sector that hit bottom in early 2016. In a survey for fourth quarter 2017, the Federal Reserve Bank of Dallas said Hurricane Harvey, which hit the largest density of refineries on the southern Gulf Coast in late August, caused $70 billion in direct damage and left around 22,000 people without a job. Read Full Article Here:

New US gas pipelines fall short of

Shale oil production in Texas has increased steadily for more than a year and gains have spilled over into the broader economy, a federal reserve bank said.

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