• 3 minutes Marine based energy generation
  • 5 minutes "Saudi Armada heading to U.S.", "Dumping" is a WTO VIOLATION.
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Which producers will shut in first?
  • 2 hours A small trial finds that hydroxychloroquine is not effective for treating coronavirus
  • 4 hours Saudis to cut 4mm bbls. What a joke.
  • 4 hours Saudi Arabia Is Buying Up European Oil Majors
  • 2 hours The GREAT OPEC+ Agreement
  • 1 hour Trump will be holding back funds that were going to W.H.O. Good move
  • 3 hours Chinese Communist Party
  • 1 hour US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 5 hours Occidental hypocrisy
  • 3 hours Russia's Rosneft Oil is screwed if they have to shut down production as a result of glut.
  • 8 hours Sharp real pure true hard working roughneck needing work..
  • 9 hours Death Match: Climate Change vs. Coronavirus
  • 9 hours Get First Access To The Oilprice App!
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Doing More With Less: Texas Oil Employment At 7-Year Low

Texas is set to break its oil production record this year, but the oil industry’s drive to cut costs and increase efficiencies is now enabling drillers to pump record volumes of oil with fewer workers—the current workforce numbers are roughly the same as they were in 2011, according to petroleum economist Karr Ingham of the Texas Alliance of Energy Producers.

Texas drillers are pumping more oil with about 50 percent fewer rigs and about 25 percent fewer employees than at the peak in late 2014, Ingham said last week at the presentation of his Texas Petro Index that measures the oil economy in Texas taking into account rigs, employment, production, and oil prices.

“I don’t see how we don’t break this record in 2018,” Ingham said, expecting Texas oil production to beat the previous record from 1972.

Ingham predicts that both Texas and the United States as a whole will break oil production records. For the Lone Star State, Ingham predicted total production of 1.423 billion barrels this year, or around 3.9 million bpd, beating the record of 1.263 billion barrels (3.46 million bpd), set in 1972.

Now oil companies are doing more with less, and not all jobs lost during the downturn will return to the sector. Oil companies could extract oil with 75,000 fewer workers than at the peak of the previous boom in 2014, when some 300,000 people worked in the oil industry. Related: Cold Snap Heats Up Natural Gas Prices

“What are the chances it’s going to get back to that level anytime soon?" Ingham told the Houston Chronicle. “Pretty slim, frankly,” he added.

According to the Dallas Fed, Texas oil and gas employment expanded in November by 1,600 jobs to around 222,600, with most of the increase coming from support activities for mining. Since January 2017, support activities for mining have added 24,900 jobs, while oil and gas extraction has only added 1,300 jobs. Total U.S. oil and gas employment rose in November by 3,500 jobs to around 413,400, with Texas accounting for 54 percent of the total.

While employment has been rising in Texas oil over the past year, the numbers now are roughly the same as in 2011, economist Ingham said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News