Lots of production companies around Bakken are going to expand hiring in ’14. Bismarck Tribune reports Oil service companies on hiring blitz.
The rapidly increasing number of wells is creating permanent jobs to service the wells. Each well requires attention. I’ve read elsewhere that each well creates the need for one full-time position. That would be about 8,000 permanent jobs for the existing wells, with 2,000 new positions a year.
Two key comments, for me at least:
“It’s reaching the point that production is getting as big as exploration type jobs,” he said.
Those new production jobs will be long-term and stable. The proportion of jobs is starting to shift from exploration to production.
Not that the exploration jobs are going away – guesses are there will be ten more wells for every one that has been drilled. That is a huge number of exploration jobs to be followed by a huge number of decades-long production jobs.
The type of drilling is also shifting away from getting a well in place to hold all the leases, towards more economical in-filling:
The difference is drilling has become more methodical and less of a rush than it was at the beginning of the boom when stakes were being claimed.
(Photo by James Ulvog of a site that will require one FTE to service it.)
(Hat tip: Million Dollar Way)