Compensation Survey Finds Midstream Remains a Good Place to Be
In terms of employment and compensation, the midstream oil and gas sector continues to hum along quite nicely, concludes a recent survey by Longnecker & Associates (L&A), a Houston-based strategic compensation and governance consulting firm.
Unlike exploration and production and oilfield services firms, midstream employers have been considerably more insulated from commodity price swings, L&A President Chris Crawford said in an interview with DownstreamToday.
Ongoing robust investments in infrastructure projects translate into a much tighter employment situation in the midstream, explained Crawford. In fact, he noted that more than one-half of the midstream companies surveyed continue to pay annual retention bonuses and longer-term retention grants (such as restricted stock options) to keep managers and employees. Kinder Morgan, Williams, Magellan Midstream and 10 other companies provided their perspectives for the L&A survey.
Crawford and Josh Whittaker, a senior consultant with L&A, recently sat down with DownstreamToday to offer these and other survey highlights. Listen to the audio clip below to hear their insights about midstream employment and compensation.