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With the current rise in oil prices and reduction in supply, you may be wondering “is oil & gas production a good career path?” or “what are the best paying jobs in oil & gas production?” Or even questions like “how many jobs are available in oil & gas production?”.
In the US and around the world, the production of oil and gas is a massive industry. The oil and gas sectors operate in several ways, providing various opportunities and rewards to individuals who meet the required educational and professional criteria.
In this article, we will explore “US oil production 2022”, “is oil & gas production a good career path”, and “how many jobs are available in oil & gas production”.
US Oil Production 2022
According to official reports, crude oil production in the country went up by more than 3% in March, reaching a new high after November.
According to the study, oil production increased to over 11.7 million barrels per day in March, up from 11.3 million BPD in February.
The impact of the COVID-19 pandemic is slowly fading, although output is still well below the record level with the figure of 12.3 million BPD set in 2019.
New Mexico’s production hit a record high of around 1.5 million barrels per day (BPD). Likewise, Texas output increased to about 5 million barrels per day, the highest level since December.
The EIA reported that the monthly natural gas production gross in the Lower 48 states increased by 1.7 billion cubic feet per day (BCFD) to 106.4 BCFD in March, the highest level since December 2021.
Finally, among the various career paths accessible, the production of oil and gas offers an ideal place to start and grow a satisfying career.
Different sections within oil and gas production where you might be starting a successful career path include upstream, midstream, and downstream. Yes, the average annual pay in each profession is comparable to the level of responsibility you’ll have.
Now that we have discussed the US oil production 2022, it is time to explore the answer to “is oil & gas production a good career path” and “how many jobs are available in oil & gas production?”.
Is Oil & Gas Production A Good Career Path?
According to research published by the United States Oil and Gas Organization, the sector of oil and gas, including its supply chain, is widely distributed throughout the United States and the rest of the world. For this reason, the business offers a wide range of job opportunities, whether you wish to work in an energy hub’s office or on an oil rig offshore.
Let’s look at some considerations of working in oil and gas production to help you understand “is oil & gas production a good career path?”.
A College Diploma Is Not Required
If you want to work in a field that doesn’t require a college diploma, the industry of oil and gas is a great place to start. You don’t need a university degree there. You can earn a well-paying entry-level job with just a high school diploma.
Surprisingly, even if you begin as an entry-level employee, you may work your way up to the top. For example, if you work as a floor hand on an oil rig, you can eventually advance to the oil rig manager position.
Job Security And Long-Term Employment
Oil demand is constantly vital, and as long as there is oil demand, jobs will always be available in the field. Therefore, you have to worry less about losing your career because demand has dwindled or oil is no longer available.
In addition, because oil demand is a worldwide phenomenon, the business has a high level of stability.
Increasing Your Skills
Exploration of oil and gas management, petroleum economics, operational material management, and refinery management are a few of the skills available in this industry.
Your communication, analytical, and management skills, on the other hand, will improve.
Great Salary Structure
Due to many factors, including the educational background necessary, salaries in this industry are frequently higher on average than those on the national average.
Other incentives, such as large financial bonuses, will, however, play a part in attracting individuals to potentially remote working locations.
Individual salaries vary widely based on experience and job-specific skills but rarely start below $35,000 per year. Employees that are more senior or skilled are earning significantly more money.
Opportunities For Travel
If you want a profession that permits you to fly outside your country, go into the oil and gas industry. One of the reasons some people wonder if the production of oil and gas is a desirable career path is the opportunity to go abroad. Yes, it is correct.
Now that we’ve gone over the factors to help you determine “is oil & gas production a good career path?”, let’s explore the types of jobs available on the production side.
Job Opportunities Available In Oil & Gas Production
Within the oil and gas industry, there are several different career options to choose from. Here we will explore the best paying jobs in oil & gas production.
Some of the job opportunities available in oil and gas production with their average yearly salaries are as follows:
- Petroleum engineer – $96,000/year
- Energy engineer – $80,000/year
- Geologist – $80,000/year
- Mining engineer – $70,000/year
So, is oil & gas production a good career path to follow? With the increase in oil prices and future supply issues, the oil and gas sector holds numerous opportunities for inspiring young engineers, accountants, and other relevant professionals.
However, it is also important to understand that the answer to “is oil & gas production a good career path?” depends on your personal work preferences too, such as: are you willing to work late hours or are you willing to work in harsh environments.
This article sheds light on “is oil & gas production a good career path” and the best paying jobs in oil & gas production, and we hope that it provides you with sufficient info to make an informed decision.