Despite recent challenges, a new government report has found that it is still a great time to be an oil field worker in the Lone Star State.
The U.S. Energy Information Administration found that Texas gained more than 19,000 new private sector oil and natural gas production jobs in 2013, almost six times the number added in New Mexico, the state with the second most oil and natural gas production jobs added last year. This number also includes only "on-the-ground" production jobs and does not describe the significant number of positions at oil and natural gas corporate headquarters in Houston and elsewhere in the state.
The report had found a 28 percent increase in U.S. jobs in oil and natural gas production from 2009 to 2013, from 422,033 to 586,884 total positions. Again, Texas contributed the most significant growth to bolster this percentage.
At the same time, average wages for these positions have increased. Average wages for the industry have risen 12 percent from 2009, to $108,000 in 2013, higher than the 10 percent average increase for all private sector industries.
Most of these gains can be traced back to Texas and the prevalence of new plays in the Eagle Ford, Permian and Haynesville formations. New Mexico, North Dakota, Colorado and Wyoming also made contributions, although less significant. It is worth mentioning that those states that have seen strong growth in oil and natural gas employment have also seen growth in other industries, such as mining efforts.
As Texas continues to lead the nation in job growth and oil production, organizational leaders need to react appropriately to changes in market conditions.
Oil and gas strategy consulting can help ensure that all new employees are aligned with organizational objectives and understand how their role helps move the company forward.