By: Kyra Buckley – Houston Chronicle – Texas continues to lead the nation in the number of oil field services employees as the sector adds jobs for the eighth month in a row.
In June, oil field services companies operating in Texas added 2,142 jobs for a total of 308,553, according to an analysis of preliminary federal data from the industry trade group Energy Workforce and Technology Council.
Overall the country added around 5,000 jobs in the sector last month for a total of 633,198, according to the preliminary data. The numbers from May were adjusted down by 603 to sit at 628,190 total jobs nationally.
“It’s encouraging to see job growth in Texas continue to increase in the sector,” said Leslie Beyer, CEO of the Energy Workforce and Technology Council, in a statement. “With eight straight months of gains in the workforce, I’m optimistic that our industry is up to the challenge to meet growing global demand by increasing domestic production while reducing global emissions.”
Global demand for oil and gas continues to climb as the economy recovers from the pandemic, outpacing supply. Sanctions on Russian oil in retaliation for Moscow’s war on Ukraine have further exacerbated supply issues.
That’s caused U.S. officials to call on oil and gas producers to ramp up production in hopes of easing gasoline and utility prices. Investors are instead asking producers for increased returns and disciplined spending. Companies – faced also with challenges getting equipment due to supply chain snags – are sticking with already planned production increases.
Employment in the oil field services sector is likely boosted by an increasing rig count in Texas and elsewhere. In the most recent national rig count from Baker Hughes, oil and gas companies have added 273 rigs in the past year for a total of 752 operating in the U.S. last week. Companies in Texas are currently operating 361 rigs, a more than 60 percent jump from this time last year when only 224 rigs were operating in the state.
On Friday, West Texas Intermediate, the U.S. benchmark for crude oil, closed at $104.80 per barrel.
