Companies in west texas oil patch need production workers news fortworthbusiness.com gas in oil lawn mower

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The oil bust that wiped out scores of companies and tens of thousands of jobs is still weighing on the industry more than 18 months after prices hit bottom in early 2016, its brutal memories contributing to a labor shortage that is slowing the energy recovery. From small companies like Byrd to global giants like Houston’s Halliburton, the oil field services companies that gas pump emoji drill, frack and haul equipment, supplies and wastewater are finding far fewer people willing to work for a boom-and-bust industry.

The shortages are frustrating oil producers and disappointing investors and analysts gas in chest who had expected the surge in drilling activity that has followed rising oil prices to yield more crude and more profits. Oil executives, meanwhile, have deeper fears that the difficulty hiring is a harbinger of long-term consequences that could hobble the industry for years — or decades — to come.

The precedent is the epic 1980s oil bust, which drove a generation away from the oil industry, leaving a workforce gap that companies are struggling to fill. In recent years, companies have grappled with the challenge of replacing retiring electricity bill bihar electricity board workers in their 60s with a new generation largely under 35, without midcareer employees to aid the transition.

Even in the prolific West Texas oil patch, it’s as if thousands of workers have disappeared — an eerie echo of 30 years electricity words ago. Bandy Watkins, a salesman at energy service company Pinnergy in Midland, has posted ads on social media, put up flyers in truck stops and paid for ads on radio stations and local newspapers in the search for truck drivers. But he hasn’t found nearly enough to hire.

Halliburton and its oil field services rivals Schlumberger and Baker Hughes cut more than 100,000 jobs worldwide between them as oil prices fell in 2015 and early 2016. Since the middle of last year, as crude prices and drilling activity recovered, oil producers and service companies have hired around 30,000 la gasolina in english workers in Texas, after cutting more than 100,000 oil field jobs across the state — roughly one in every three such jobs — between December 2014 and July 2016.

Analysts blame a lack of available labor and fracking equipment in West Texas, where the bulk of the oil industry’s nascent recovery has occurred this year. The unemployment rates of Midland and arkla gas pay bill Odessa, two Texas cities at the heart of the Permian Basin, have fallen from 4.9 percent and 6.8 percent, respectively, in June 2016, to 3.2 percent and 4.3 percent in August, according to the Labor Department.

The oil industry’s ongoing recovery began in an economy with a low unemployment rate a gaseous mixture contains and far less spare labor than after the financial crisis in 2009, when the nation’s first shale oil boom began. To lure workers from out of state, Halliburton and its rivals are raising wages, offering housing allowances and providing temporary homes, known as man camps.

All of this, however, is increasing labor costs that will soon eat into companies’ bottom lines, ultimately slowing gas natural fenosa investment and further weighing on the recovery, analysts said. So far, prices for various oil field services have risen between 15 percent and 25 percent in the Permian Basin, but those prices will have to continue to increase to get workers back into the oil patch.

In December 2014, at the peak of the oil boom, the average wage for an oil industry worker gas utility cost in Texas was $1,276 a week, according to the Texas Workforce Commission. That dropped to a low of $1,047 a week in March 2016, the month after crude prices reached a 12-year low at $26 a barrel. Last month, with prices around $50 a barrel, those wages had rebounded to $1,206 a week.

Another shortage in the oil patch: working fracking equipment. During the downturn, scores of oil field services companies cannibalized their idled equipment for spare parts, instead of repairing the equipment that was working in the oil fields. Across the United States, there’s enough demand for gas works park events fracking equipment totaling 14 million to 18 million hydraulic horsepower. But there’s only 12 million hydraulic horsepower available today.

Just about every kind of oil field tool is in high demand, and there’s a limited supply in the Permian Basin, said Paul Madero, who oversees Permian Basin operations at Houston oil field services company gas gas Baker Hughes, which is now controlled by General Electric Co. of Boston. Thomas Rinald, president of Aim Direction Services, a drilling services company in Odessa, said for months his company couldn’t find enough of a certain motor used to power drilling in working condition.

Across the oil patch, trucking companies said it has become much harder to find enough commercially licensed truck drivers in West Texas to keep up with rising demand for hauling sand and oil field equipment. In short supply, some of these truckers, particularly those with years electricity usage calculator south africa of experience, can make as much as $4,000 a week — $200,000 a year.

Next month, the shortage of drivers could worsen. The Department of Transportation will begin requiring truckers to use electronic logs to keep track of the time they spend on the road and idled — a rule that will make it harder for truckers to work beyond certain driving time limits. Many veteran drivers, who gas meter car would likely earn less under the new rules, are expected to retire.