Austin, Texas – Today the Texas Independent Producers & Royalty Owners Association (TIPRO) released new workforce data and analysis reflecting improving economic conditions and growing demand for oil and natural gas this year. The new data specifically examines employment trends in the Texas upstream, midstream and downstream sectors for the second quarter (Q2) of 2021. Last week, TIPRO also released new employment analysis for the Texas upstream sector showing 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 Lone Star State.
According to TIPRO’s workforce analysis released today, 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, Inc. (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 (CDL) in 884 postings, followed by Master of Business Administration (MBA) (222), and Transportation Worker Identification Credential (TWIC) Card (207).
TIPRO’s President Ed Longanecker added that the upward trajectory in oil prices was impacted this month by OPEC’s decision to increase output and some analysists predicting that the COVID-19 Delta variant could curb global oil demand by 1 million barrels a day. Longanecker said these factors could impact hiring trends in the short-term, but he believes market fundamentals will support improving commodity prices once we move 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 barrel 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.”
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.