Texas oil and gas jobs see three months of growth

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Texas's oil and natural gas industry reported a gain of 1,000 jobs in August, marking the third consecutive month of employment increases and four out of seven months in 2023 with job growth. The Texas Oil & Gas Association (TXOGA) noted that the upstream sector, which includes oil and natural gas extraction, continues to reflect the demand for energy resources.

Since September 2020, following the COVID-19 lockdown, the industry has added a total of 37,400 upstream jobs. Over this period, there have been 36 months with job increases compared to 11 months with decreases. In August, direct upstream employment totaled 194,400, despite a decline of 1,700 jobs in extraction and a rise of 2,700 positions in the services sector.

The industry is characterized by high-paying jobs, with an average salary of $124,000 in 2023. In August, there were 11,823 active job postings in the sector. Texas’s oil and natural gas sector has also achieved record production and tax revenue this year, contributing significantly to public services through severance taxes.

The industry paid $543 million in oil production taxes last month, an increase of 8% from August 2022, along with $80 million in natural gas production taxes. These revenues support various public services, including infrastructure and education.