Why Oil, Gas is Still a Great Industry to Be In

Why Oil, Gas is Still a Great Industry to Be In
Despite current market difficulties, there are really good reasons why workers should stay in oil and gas.

We’ve all heard the stories … layoffs, bankruptcies, restructuring, redundancies … and while the oil and gas industry is currently going through a visible rough patch due to the prolonged low oil price environment, that’s essentially the nature of the business.

When business is going well (think back a few years to the big shale boom), spirits, jobs and paychecks are up. But, as is customary with the boom and bust cycles, the bust can cause people to lose jobs and investors to lose money. This has been particularly evident in the upstream sector. Analysts and industry professionals may not know exactly how long the industry will be in the bust, but like any veteran oil and gas worker is likely to tell you – while it’s a tough market right now, this isn’t new and the industry will eventually rebound.

For young workers just beginning to get their feet wet in the industry, students completing their last year in graduate school or even workers well into their careers, talks of a downturn can naturally cause some apprehension. But there’s no need to jump ship.

Check out the video below to hear three reasons why oil and gas is still a great industry to be in. And I’ll give you a hint – it’s not just the money!

 


Valerie is an experienced writer and editor dedicated to providing useful and relevant career news about the oil and gas industry. Email Valerie at valerie.jones@rigzone.com

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Dan | Feb. 17, 2016
...This is not a good industry to work in unless you are an executive. Everyone else is expendable. If you are an exec you can withdraw your companies credit and take a 6million dollar bonus before declaring bankruptcy. Everyone else gets a few weeks or if lucky a few months severance. Better off taking a lower paying stable job in another field. Oil field looks like high pay but weather in the office or the field most of us put in a lot of hours on the nights and weekends. Average your pay by 60-80hrs and it doesnt look so great anymore.

JW | Feb. 17, 2016
I would not recommend it to anyone starting out. While when things are going good, its great. Except for the money they cheat you out of, the time you are away from your family. And in a lot of instances if you look at the money you make - versus taxes - versus the ease in which companies are willing to disregard years of service (in any instance) and days away it really is not worth it. If I had it to do all over again I would have chosen a different career path. During this downturn here I have literally not been paid tens of thousands of dollars earned, because of management trying to cut costs and refusing to pay wages.

William | Feb. 16, 2016
It is true that the oil industry has its ups and downs, but it can be very lucrative, and rewarding. People just need to be careful, and position them selves in the correct sector of the industry, to match their skill level. I think of it as practicing oil and gas....because there is no one in the industry that knows everything....with 30 years experience, Im still learning new things daily.

bargeeng | Feb. 16, 2016
This is a good industry but you have to be multipurpose... I worked here and there onshore, offshore, across continents working in the field, office, field again... I built a solid CV. Now despite of being 1.5 years jobless, a company called for a Jack Up Barge job, it was tough to clear all interviews and requisites. But here I am... People cannot be 10 or 15 years doing the same thing in same company, need networking, acquire skills, etc, now people understanding the importance to not be over specialized... And even when I was jobless did not think this was a bad industry as over the years gave a lot of things.

Darryl | Feb. 16, 2016
Hah, well downturns in the past did not phase me, this one is a sign the industry is winding down.(climate debate raging..... I would not recommend anyone under 25 pursue it - I mayself wish I became a lawyer instead of geologist! Come on, everyone hates you and the companies act like headless chickens - managing the business is a misnomer. Or you can work in the Middle East and watch the wars over oil from the front row; like I have to do now just to collect a pay check! Are you for real?

srinivasan sampath kumar | Feb. 16, 2016
im fully with the comment passed by MS.ROSS, HR OR MNMT doesnt have respect for hard work. it true.

wayne | Feb. 15, 2016
unless you can hire on to a major oil co close to the well head as a pumper or such, dont even touch it. you can wake up and your entire lifes work can be can be absolutely worthless and realize its all for nothing, the industry will throw you in the trash bin so fast it will make your head spin. just ask the old hands, your better off driving a dump truck for the county.

Ross | Feb. 12, 2016
The oilfield today is much different than the past. Myself, with 30 years experience, dont recommend it to anyone. Its very hard to have a wife or family, and the wages will not come up until years after the price returns. HR and management have NO respect for hard work, expertise, seniority, ethics, and honesty. Besides, if you are a white American male, no one wants to hire you anyway.

aa | Feb. 12, 2016
I would say stay away from the industry. It does not look good in the short to medium term. The employers are increasing the hours (without pay increases) and cutting pay by employing cheaper alternatives from many time zones away. Not good at the moment.

Raman | Feb. 10, 2016
It is hurting now.Everybody is in panic. Yes you get good money for your skills but your job is so vulnerable at times. Even big companys is looking for cost cutting by compromising the quality.If you are drawing big salary, you will be the first escape goat. The company will forget your all contributions of previous years. Better to stay away from oil patch.

Jacqueline Sack | Feb. 9, 2016
Whether or not this is a great industry to be in depends on your profession, your age, and your earning level. Young, skilled labor tends to do well and can weather a downturn, but accounting, HR, and other cost centers are quite vulnerable - especially as you get older and you earn more.

B | Feb. 8, 2016
As for me I have been instructing college agers to stay clear of this business. My grandson for one, finished high school with a 4.0, winning a full ride scholarship attending Oklahoma State Univ. He did ask me about possibly working in the oil and gas industry and I said NO way. I have spent more then 35+ years in the patch and this time around has hurt way too much to drag someone else into this. Only if you are still working can anybody say this is a good industry to be in.


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