Q2 Texas Workforce Data Show Improving Employment Trends for Oil and Gas Industry
Recently released data from the Texas Independent Producers & Royalty Owners Association (TIPRO) showed improving economic conditions and growing demand for oil and natural gas this year in Texas. Employment trends in the Texas upstream, midstream, and downstream sectors for the second quarter (Q2) of 2021 were analyzed, which showed a net increase of nearly 8,800 direct jobs in the first half of the year compared to the second half of 2020, for a total of 168,000 upstream jobs in the state.
According to TIPRO’s workforce analysis released on 20 June, there were 73,687 total job postings for the Texas oil and natural gas industry in Q2 of 2021, of which 12,224 were unique. The top three cities by total unique oil and natural gas job postings included Houston (3,455), Midland (993) and Odessa (663). The top three companies ranked by unique job postings were Delek US Holdings (1,150), Baker Hughes Company (740), and Halliburton Company (700).
Among the 14 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Petroleum Refineries ranked the highest in Q2 with 2,364 unique job postings, followed by Crude Petroleum Extraction (2,358), and Oil and Gas Field Machinery and Equipment Manufacturing (1,604). The top qualifications included commercial driver’s license in 884 postings, followed by master of business administration degree (222), and transportation worker identification credential card (207).
TIPRO’s President Ed Longanecker said that while oil price variations and the COVID-19 Delta variant could impact hiring trends in the short-term, market fundamentals will support improving commodity prices past this period of volatility.
“We may see a temporary slowdown in our recovery due to concerns over COVID-19 Delta variant, including some travel restrictions, but we still face a supply deficit,” said Longanecker. “The market can also absorb the additional 400,000 bbl output from OPEC and its allies, while domestic producers remain disciplined in their production goals. We may not see $100 oil anytime soon, but I remain bullish in the long-term.”