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Texas oil patch ‘bloodbath’ is over as jobs and rigs return

  • Monday, November 20, 2017
  • Posted By Unknown

112017blog Source: Star-Telegram | Max Baker | November 15, 2017

Hiring in Texas oil and gas fields is rising sharply as the industry steadily recovers from its most recent downturn.


The number of workers exploring for oil and gas in Texas hit more than 222,000 in September, nearly 31,000 more than a year ago, according to the Texas Petroleum Index, a measure of oil and gas drilling activity. It marked the 10th straight month that employment has improved, the report said.


“After a two-year oil bloodbath where prices dropped 80 percent, rig count was down 75 percent, drilling permits were down 70 percent and 300,000 plus jobs were lost, this is a much brighter day,” said Karr Ingham, an Amarillo-based economist who compiles the report for the Texas Alliance of Energy producers.


“It is a very solid recovery at this point,” Ingham said. “We’re adding jobs back and steadily counting.”


To complete article, please visit the Star-Telegram here. 





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