loader image
- Advertisement -

Thursday, July 18, 2024
85.1 F
McAllen
- Advertisement -

New Oil and Natural Gas Employment and Production Data

Translate text to Spanish or other 102 languages!

- Advertisement -
Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) today highlighted new employment figures showing a decline in upstream employment for the month of May 2024. Image for illustration purposes
Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) today highlighted new employment figures showing a decline in upstream employment for the month of May 2024. Image for illustration purposes
- Advertisement -

Texas Independent Producers & Royalty Owners Association (TIPRO)

AUSTIN, Texas – Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) today highlighted new employment figures showing a decline in upstream employment for the month of May 2024. According to TIPRO’s analysis, direct Texas upstream employment for May totaled 191,400, representing a decrease of 2,000jobs from April employment numbers. Oil and gas extraction jobs in Texas increased by 400 last month, while support activities fell by 2,400. 

Though overall employment for the state’s upstream sector was down in the month of May, TIPRO’s new workforce data yet again indicated strong job postings for the Texas oil and natural gas industry. According to the association, there were 11,015 active unique jobs postings for the Texas oil and natural gas industry last month, including 4,170 new job postings added during the month by companies. In comparison, the state of California had 3,833 unique job postings last month, followed by Florida (1,973), New York (1,672), Louisiana (1,435) and Pennsylvania (1,335). TIPRO reported a total of 52,329 unique job postings nationwide last month within the oil and natural gas sector. 

- Advertisement -

Among the 19 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Gasoline Stations with Convenience Stores led in the ranking for unique job listings in May with 2,529 postings, followed by Support Activities for Oil and Gas Operations (2,459) and Crude Petroleum Extraction (934). The leading three cities by total unique oil and natural gas job postings were Houston (3,398), Midland (763) and Odessa (476), said TIPRO.

The top three companies ranked by unique job postings in May were Cefco (1,224), Baker Hughes (604), and Love’s (411), according to the association. Of the top ten companies listed by unique job postings last month, five companies were in the services sector, followed by two in the gasoline stations with convenience stores category, two midstream companies and one upstream company. Top posted industry occupations for May included first-line supervisors of retail sales workers (629), heavy tractor-trailer truck drivers (367), and retail salespersons (349). The top posted job titles for May included store managers (240), customer service representatives (227) and maintenance people (143).

Top qualifications for unique job postings included valid driver’s license (1,726), CDL Class A License (239) and commercial driver’s license (CDL) (206). TIPRO reports that 40 percent of unique job postings had no education requirement listed, 34 percent required a bachelor’s degree and 28 percent required a high school diploma or GED. There were 2,065 advertised salary observations (19 percent of the 11,015 matching postings) with a median salary of $62,300. The highest percentage of advertised salaries (31 percent) were in the $90,000 to $500,000 range.

Additional TIPRO workforce trends data:

- Advertisement -

TIPRO also highlights recent data released from the Texas comptroller’s office showing significant tax contributions provided by the Texas oil and natural gas industry during the month of May. Texas energy producers last month paid $556 million in oil production taxes, up from the prior month and 12 percent higher than amounts paid a year ago in May 2023. Producers in May also contributed an additional $180 million in revenue from natural gas production taxes. Revenue collected from oil and natural gas severance taxes is used help to support and pay for important public services across the Lone Star State, including road and infrastructure investments, water conservation projects, schools and education, first responders and more.

Additionally, TIPRO notes new projections for oil and natural gas production in the Permian Basin and Eagle Ford Shale. New data recently released by the U.S. Energy Information Administration (EIA) forecasts crude oil production in the Permian Basin to average about 6.3 million barrels per day (b/d) in 2024, an increase of nearly 8 percent from 2023, then surge to 6.8 million b/d in 2025. The Permian Basin, mostly located in Texas, accounts for nearly half of U.S. crude oil production, and in its June Short-Term Energy Outlook (STEO), the EIA said that higher production in the Permian and other drilling regions will drive U.S. oil production to achieve successive records in 2024 and 2025. Figures published June 11th by the EIA also show oil production in the Eagle Ford will hover near 1.08 million b/d this year, then grow further in 2025. Meanwhile, market conditions and lower commodity prices will continue to impact drilling and production of natural gas, though natural gas output is forecasted to increase in the Permian and Eagle Ford regions this year, said the EIA, while declining in the other major producing regions.

Also this week, Texans for Natural Gas (TNG), an educational campaign managed by TIPRO, released a new report titled “Texas Grid Security: Natural Gas Critical for Reliability With Increasing Electricity Demand.” The report highlights the vital role natural gas will play in supporting the state’s growing need for reliable and affordable power.


“Aside from the immense economic contributions provided by our industry, the role of natural gas in meeting growing electricity demand in our state has never been more critical,” said Ed Longanecker, president of TIPRO. “Natural gas will continue to play a dominant role in providing a reliable baseload supply for decades to come. Further investment in domestic production, infrastructure and natural gas power generation will be essential to meet this demand,” added Longanecker.

To read the full report, click here.

Information Source: The Texas Independent Producers & Royalty Owners Association (TIPRO)


About TIPRO

The Texas Independent Producers & Royalty Owners Association (TIPRO) is a trade association representing the interests of nearly 3,000 independent oil and natural gas producers and royalty owners throughout Texas. As one of the nation’s largest statewide associations representing both independent producers and royalty owners, members include small businesses, the largest, publicly-traded independent producers, and mineral owners, estates, and trusts. 

- Advertisement -
- Advertisement -
- Advertisement -

Latest News

More Articles Like This

- Advertisement -