Data recently released by the Texas Workforce Commission indicates a sustained growth trend in upstream oil and gas employment in Texas. In December, the sector added 3,100 jobs, contributing to a substantial increase of 15,300 jobs throughout 2023. The Texas Oil & Gas Association (TXOGA) highlighted that since the low point in September 2020, months of employment growth have outnumbered months of decrease, with the industry adding a remarkable 54,700 upstream jobs in Texas. The average monthly growth stands at 1,403 jobs.
These jobs, recognized for their competitive wages, pay an average salary of approximately $124,000 in 2023, making them among the highest-paying in Texas. Despite global economic uncertainties impacting price signals, 2023 was a robust year for upstream oil and gas job growth, according to TXOGA President Todd Staples. He emphasized the resilience of these jobs and their significant contributions to the Texas economy, benefiting communities across the state.
“2023 was an incredibly solid year for upstream oil and gas job growth, despite global economic uncertainties that have held back strong price signals, and the year finished with a continued upward push on job expansion,” TXOGA President Todd Staples said in the statement, per reports.
TXOGA provided a chart illustrating Texas jobs in upstream oil and gas from January 2013 to December 2023. The data reveals fluctuations over the years, with the sector experiencing peaks, dips, and steady increases. Despite challenges, the industry showed resilience, reaching 211,700 jobs in December 2023.
TXOGA Chief Economist Dean Foreman noted that the Texas oil and natural gas industry set new production records and milestones, achieving a record-high crude oil production of 5.7 million barrels per day in October and November. Additionally, natural gas marketed production reached a new high of 33.6 billion cubic feet per day in October. The industry’s resilience is further highlighted by record highs in natural gas liquids production and in-state refinery NGL direct use during the same period.
Texas’s role as a national and global energy powerhouse has been underscored by these achievements, demonstrating the state’s commitment to meeting growing energy needs. The industry’s contributions extend to exports, with Texas exporting oil, natural gas, and derived products worth $164 billion in the first three quarters of 2023.
TXOGA, representing various facets of the Texas oil and gas industry, emphasizes the sector’s significance in the state’s economy. In fiscal year 2022, the industry supported 443,000 direct jobs and contributed $24.7 billion in state and local taxes and state royalties. Overall, the data reflects the resilience and vitality of the upstream oil and gas sector in Texas, contributing to economic growth and stability.
SOURCE: TXGOA
