Bucking the Trend: O&G Firms Continue to Recruit
At the end of the fourth quarter 2008, Schlumberger took a revenue hit from the oil market downturn and, as a result, trimmed its employment by more than 1,000 workers this month, with plans for a worldwide cut of 5,000 jobs. Oil major ConocoPhillips also announced that it intends to decrease its workforce by 4%, or by 1,300 jobs, in an attempt to reign in its costs during these uncertain economic times. Despite these massive lay-offs, particularly in the oilfield services sector, smaller, independent oil companies report they are still on the look-out to collect more workers for future exploration and production endeavors.
While investing conservatively in their own oil projects, companies like Devon Energy Corp. seem optimistic enough to continue their search for skilled petroleum engineers and oil field workers. "We have over 150 jobs to fill," Devon spokesman Chip Minty told Reuters. "We are hiring, but we are watching our budgets."
Moreover, with the baby-boomer generation heading into retirement and the petroleum industry's long-term need to acquire more skilled laborers, companies with smaller staffs are more reluctant to get rid of hard-to-come-by highly trained and skilled laborers.
According to Reuters, representatives for Williams Companies Inc and Chesapeake said their companies were hiring, while a spokesman for Apache Corp said it would be premature to comment on the possibility of job cuts. Additionally, a spokesman for Anadarko Petroleum Corp told Reuters that the company's staffing was at levels that enable it to "manage through volatile price environments rather than react to them."
With more than 3,000 job openings listed on its career board, Rigzone can attest to the availability of opportunities on all levels within the oil and gas industry, strongly contesting the recent employment cuts.
Operates 4 Offshore Rigs
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
- Trade Group Oil & Gas UK Makes 4 Board Appointments (Oct 04)
Company: ConocoPhillips more info
Operates 12 Offshore Rigs
- Most US Gulf Oil Output Offline Ahead of Tropical Storm Nate (Oct 06)
- U.S. Gulf Oil Producers Start Evacuating Staff Ahead of Tropical Storm Nate (Oct 05)
- For ConocoPhillips, Harvey A Test Of Remote Operations (Sep 07)
Company: Anadarko Petroleum more info
- No More Free Lunch Is the Big Change Under Way in the Oil Market (Oct 09)
- Anadarko To Spend $2.5B On Massive Share Buyback (Sep 20)
- Harvey Could Become First Hurricane to Strike Texas Since 2008 (Aug 23)
Company: Schlumberger more info
- Top Oilfield Services Firms Signal Fourth-Quarter Uncertainty (Oct 20)
- Schlumberger's Latest Asset Deal Raises Fresh Concerns Ahead Of 3Q (Oct 19)
- Offshore Start-Up Borr Drilling Aims To Expand Fleet, Keep Costs Low (Aug 30)
Company: Devon Energy more info
- Shale Drillers Show Few Signs of Slowing as Profits Expand (Aug 02)
- Devon Energy Trims Full-Year Spending (Aug 01)
- Devon Energy Plans To Divest $1B Assets; Profit Beats (May 02)
Company: Chesapeake Energy Corporation more info
- Chesapeake To Cut Rig Count, Bring Fewer Wells To Production (Aug 03)
- Chesapeake CEO: Downturn Challenges Helped Oil, Gas Companies (Mar 07)
- Chesapeake Energy Posts Smaller Quarterly Loss (Feb 23)