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Texas oil and gas expansion frustrates OPEC production cuts
Posted on 6/13/17 at 10:46 am
Posted on 6/13/17 at 10:46 am
Found this article LINK
Oil and gas jobs picking up in Texas? Me thinks it might be time to move back to h-town. This is awesome though, F OPEC.
Any TX oil and gas people here? How's the job scene?
Oil and gas jobs picking up in Texas? Me thinks it might be time to move back to h-town. This is awesome though, F OPEC.
quote:
Upstream oil and gas development in Texas rallied for the fifth straight month in April, according to the Texas Petro Index, which improved to 164.3 to post its first year-over-year increase in 27 months.
quote:
An estimated average of 204,550 Texans remained on upstream oil and gas industry payrolls, about 2.7 percent more than in April 2016 and about 33.2 percent fewer than the estimated high of 306,000 in December 2014. (“Upstream oil and gas companies have added more than 12,000 jobs in Texas in the past six months, providing growth momentum to the state economy rather than a drag as was the case for the better part of 2015 and 2016, Ingham said.) According to TPI estimates, the trough of upstream oil and gas employment in Texas before the expansion ending December 2014 was 184,640 in October 2009. During the previous growth cycle, industry employment peaked at 225,965 in October 2008.
Any TX oil and gas people here? How's the job scene?
10
Posted on 6/13/17 at 10:47 am to RussianFromLSU
Truck
Nuts
For
Errybody
Nuts
For
Errybody
Posted on 6/13/17 at 10:48 am to RussianFromLSU
quote:
move back to h-town
Why'd you leave in the first place?
Posted on 6/13/17 at 10:48 am to RussianFromLSU
A lot of it is out in West Texas
Posted on 6/13/17 at 10:51 am to RussianFromLSU
quote:
Any TX oil and gas people here? How's the job scene?
Has certainly picked up. Rig counts continue to go up. My brother is an O&G recruiter and he's flooded with new jobs to fill.
Not sure about in the field jobs though.
Posted on 6/13/17 at 10:51 am to CoachChappy
quote:
lot of it is out in West Texas
Yep, Midland
Also, N Dakota has doubled its rig count from a year ago. It's not back to where it was, but I hear is strong and back to 100% employment in those towns
Posted on 6/13/17 at 10:51 am to RussianFromLSU
Don't know if it is time to move back to Houston. I for one am cautious because if OPEC decides to go against their production quotas, then we will see another instance where prices will free fall.
It's great that Texas is drilling more but we will definitely see another "bust" should OPEC decide to regain market share.
It's great that Texas is drilling more but we will definitely see another "bust" should OPEC decide to regain market share.
Posted on 6/13/17 at 10:55 am to bayoutiger225
I use to get some small checks (really small) from some of these companies, but two or three of them have filed for bankruptcy lately. I can't even think of the names of the companies at the moment.
Posted on 6/13/17 at 10:55 am to RussianFromLSU
quote:
upstream
Posted on 6/13/17 at 11:07 am to RussianFromLSU
When did OPEC cut production?
Posted on 6/13/17 at 11:50 am to castorinho
They shouldn't be. While the rest of the world is trying to get a sustainable price we're drilling like mad men. If OPEC decides to go all out like we are then it'll fall even farther. Also, for the S La boys this shite is terrible. Land wells take 1/3 of the time, personnel, and equipment that an offshore well does.
Posted on 6/13/17 at 11:52 am to Sao
Mr. Carencro 2015
Posted on 6/13/17 at 12:01 pm to JJBTiger2012
quote:
Also, for the S La boys this shite is terrible. Land wells take 1/3 of the time, personnel, and equipment that an offshore well does.
Yep, and the infrastructure (non-well) cost are substantially lower as well. Offshore wells are now much further to the right of the supply stack than shale US shale plays.
Posted on 6/13/17 at 12:02 pm to castorinho
Posted on 6/13/17 at 12:10 pm to CoachChappy
quote:
A lot of it is out in West Texas
Yep,
South of Midland, North Of Big Spring and out farther west in Pecos up to Southern NM
Posted on 6/13/17 at 12:12 pm to texastiger38
Unless we get to energy independence where the global price of oil no longer matters this isn't good news for the industry. I don't know why producers here can't think past the next payday.
Posted on 6/13/17 at 12:13 pm to upgrayedd
Dude looks jacked! Where does he find the time off the rig to go to the gym and not sleep?
Thumbs up bc he has a yellow bracelet on. Fight cancer!
Thumbs up bc he has a yellow bracelet on. Fight cancer!
Posted on 6/13/17 at 12:14 pm to BallHawk
quote:
I don't know why producers here can't think past the next payday.
Its bc those old oil barons in TX have one foot in the grave and are grabbing and scratching for that last $500,000,000.00
Posted on 6/13/17 at 12:45 pm to CoachChappy
quote:
A lot of it is out in West Texas
My BiL had a chance to double (maybe even triple or quadruple if this next boom plays out) his salary and move from Houston to Midland.
He stayed put and I don't judge him.
Posted on 6/13/17 at 12:49 pm to texastiger38
Where I'm at now.
Outside barstow
Outside barstow
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