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Live Commodities
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Month
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Jun 24
89.14
86.96
90.75
86.80
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23:19:43 | Energy
May 24
84.73
82.64
86.28
82.47
+2.00
+2.42%
23:19:44 | Energy
May 24
1.776
1.748
1.793
1.742
+0.029
+1.66%
23:19:29 | Energy

TIPRO NEWS RELEASES AND STATEMENTS

Texas’ Pro-Business Environment Supports Economic Growth and Energy Security

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 significant gain in Texas upstream employment last month. According to TIPRO’s analysis, direct Texas upstream employment for May 2023 totaled 206,000, an increase of 6,900 jobs from adjusted April employment numbers. Texas upstream employment in May 2023 represented the addition of 22,700 positions compared to May 2022, including an increase of 2,700 jobs in oil and natural gas extraction and 20,000 jobs in the services sector.

TIPRO’s new employment data yet again indicated strong job postings for the Texas oil and natural gas industry during the month of May. According to the association, there were 13,779 active unique jobs postings for the Texas oil and natural gas industry in May, including 4,366 new job postings added during the month by companies. In comparison, the state of California had 5,100 unique job postings last month, followed by Louisiana (2,390), Oklahoma (2,037) and Pennsylvania (1,649). TIPRO reported a total of 61,442 unique job postings nationwide last month within the oil and natural gas sector.

Among the updated 17 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Support Activities for Oil and Gas Operations led in the rankings for unique job listings in May with 3,516 postings, followed by Gasoline Stations with Convenience Stores (1,693) and Crude Petroleum Extraction (1,542). The leading three cities by total unique oil and natural gas job postings were Houston (4,993), Midland (1,268) and Odessa (695), said TIPRO.

The leading three companies ranked by unique job postings in May were John Wood Group (796), Love’s (524) and Halliburton (462), according to TIPRO. Of the top ten companies listed by unique job postings last month, four companies were in the services sector, followed by two midstream companies, two in the gasoline stations category with convenience stores, and two in oil and natural gas extraction. Top posted industry occupations for May included maintenance and repair workers (467), heavy tractor-trailer truck drivers (401) and managers (353). The top posted job titles for May included field service technicians (115), lease operators (96) and process engineers (75).

Top qualifications for unique job postings included valid driver’s license (2,392), commercial driver’s license (CDL) (312), and CDL Class A license (249). TIPRO reports that 43 percent of unique job postings required a bachelor’s degree, 29 percent required a high school diploma or GED, and 29 percent had no education requirement listed. There are 1,484 advertised salary observations (11 percent of the 13,779 matching postings) with a median salary of $50,000.

Additional TIPRO workforce trends data:

– A sample of 500 active industry job postings in Texas for May 2023 can be viewed here. Please note, some positions may no longer be available.
– The top three posting sources in May included indeed.com (5,414), simplyhired.com (3,388) and dejobs.org (2,102).
– Average annual wages for the Texas oil and natural gas industry can be viewed here.
– Leading industry positions in Texas with median hourly earnings, education, work experience and typical on-the-job training is available here.
TIPRO also highlights recent data released from the Texas comptroller’s office showing large tax contributions by the Texas oil and natural gas industry. In May, Texas energy producers paid $497 million in oil production taxes, up from levels reported for April. Producers also in May contributed almost $200 million in natural gas production taxes. Oil and natural gas severance taxes are extremely important to state and local governments and are used help to support road and infrastructure investments, water conservation projects, schools and education, first responders and other essential public services across the Lone Star State.

Additionally, TIPRO reports that oil and natural gas output is poised to see further growth this summer, though monthly production gains are narrowing from increases recorded earlier this year. New data from the U.S. Energy Information Administration (EIA) projects that U.S. crude oil production in July will rise to 9.375 million barrels per day (b/d), up 8,000 b/d from June. In the Permian Basin, the most nation’s most prolific shale oil basin, regional output will increase by 1,000 b/d to hit 5.76 million b/d next month, forecasts EIA experts. Domestic natural gas production in the United States also will climb and reach 97.3 billion cubic feet per day (bcf/d) in July, according to the latest EIA estimates. This in part will be driven by production gains from the Permian, where natural gas production is expected to grow to 22.878 bcf/d and in the Haynesville, where natural gas production will total 16.6 bcf/d.

“The Texas oil and natural gas industry is an economic powerhouse providing reliable energy to meet growing demand here and aboard,” said Ed Longanecker, president of TIPRO. “Fortunately, Texas policymakers continue to maintain a regulatory environment that is conducive to economic growth and the responsible development of our natural resources, which is reflected in our analysis. We appreciate the work of the Texas Legislature this year that advanced a policy agenda supporting the continued success of our industry and its unmatched contributions,” added Longanecker.

As a leading energy provider, TIPRO says Texas has also promoted further investments in infrastructure and related projects that support natural gas development. For example, the Matterhorn Express Pipeline is scheduled for completion next year and will deliver natural gas to the Katy Hub on the Gulf Coast, adding additional opportunity for the state to capitalize on its liquified natural gas (LNG) exports.

See below for other projects that will add to the expansion of natural gas from the Permian Basin:

The Whistler Pipeline Capacity Expansion is expanding compression by installing three new compressor stations on the pipeline, increasing capacity by 0.5 Bcf/d to 2.5 Bcf/d. The project is expected to enter service in September 2023.
The Permian Highway Pipeline Expansion is expanding compression, increasing capacity by 0.55 Bcf/d to 2.65 Bcf/d. The project is expected to enter service in November 2023.
The Gulf Coast Express Pipeline is expanding compression, increasing capacity by 0.6 Bcf/d to 2.65 Bcf/d by December 2023.
“These infrastructure investments will enable the Lone Star State to continue being a global leader in natural gas production, driving further economic prosperity across Texas and enhancing our nation’s energy security,” concluded Longanecker.

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