Oil Rig Jobs

Are you in great physical condition, looking for an adventure, and for a job where earnings potential is high? There are more than a few people in the world seeking a job that combines all of those elements. But interestingly, the number of people seeking oil production jobs -- particularly on onshore and offshore oil rigs -- is not enough to fill demand.

The majority of entry-level jobs in the petroleum industry are in the ‘oil production’ sector. Generally, oil production is the process of drilling and extracting oil from underground (or underwater) reservoirs. The world’s oil production takes place both onshore and offshore. There's a good chance you've noticed oil rigs off the coast of California or in the Gulf of Mexico — or elsewhere in the world.

In U.S. controlled waters, thousands of oil platforms are either floating or attached to the ocean floor off the shores of Texas, Louisiana, Mississippi, Alabama and Florida. Many of these platforms are huge structures that house multiple drilling rigs and also house workers. Though some of the platforms can be moved, they are, for the most part, like self-sustaining steel islands, complete with helicopters pads. Once drilled, oil and gas are transported from the platforms through sub-sea pipelines to refineries located in the gulf states, especially in Texas and Louisiana.

Oil and Gas Pipeline Jobs

Pipelines not only carry the crude oil we need for refining, but much of the refined product as well, such as natural gas. There are over 200,000 miles of pipelines crisscrossing our nation pumping billions of gallons of oil and natural gas to collection points such as refineries, power stations, reserve tanks, and distributions stations, as you read this. To put that into perspective, the United States Interstate Highway System stretches for just 46,726 miles. Therefore, our petroleum pipeline network is over four times longer than our interstate highway system! It is by far the largest network of its kind in the world. Continental Europe does not even come close.

Careers in the petroleum pipeline industry are available and varied. This is no surprise given that pipelines can be found virtually everywhere across the globe, be it in cities, remote areas, near refineries, in towns, under the sea, and near electrical power plants and airports. For this reason, pipeline jobs offer potential candidates an incredible swath of terrains and climates to work in, be it offshore drilling platforms, the desert sands of the Middle East, Alaska, downtown New York City, fields in the Midwest, or in the deep southern states all along the Gulf Coast.

Pipeline jobs typically come in two flavors: direct-hire and contract work. Both typically offer superb benefits and sometimes relocation packages.

WRAPUP 1-Oil and gas cos to gain as costs fall, production rises

Oil and gas companies Goodrich Petroleum Corp (GDP.N), Brigham Exploration and Production Co (BEXP.O) and Penn Virginia Corp (PVA.N) reported quarterly losses, as commodity prices fell, but forecast a strong second half citing lower costs and rising production.

Demand for oil and natural gas has been hurt by the global economic slowdown. Growing stockpiles pulled down crude prices more than 50 percent in the second quarter from year-ago levels, while natural gas prices fell 65 percent.

Lower commodity prices have also brought down the cost to drill wells, allowing producers to get more for their money, boosting many exploration and production companies' quarterly results.

Earlier on Wednesday, Petroquest Energy Corp (PQ.N), Devon Energy Corp (DVN.N) and XTO Energy Inc (XTO.N) reported better-than-expected results and said they benefited from lower costs.

"One of the overarching themes that we have seen pretty much across the board as companies have reported is that they are simply getting more for less," Natixis Bleichroeder analyst Curtis Trimble said.

"Not only do you have a cost function that's stretching your dollars further, but also on the production side, the companies are simply getting more out of their wells due to refined completion programs, as compared to previous periods," he added.

Trimble said costs would decline further and might not pick up with the increased drilling activity.

"Outside a couple of localised instances, we won't see increases in service or equipment costs anytime soon," he said.

PRODUCTION VOLUMES UP

Penn Virginia, which reported an adjusted loss of 14 cents a share, compared with analysts' view of a loss of 13 cents a share, said its quarterly expenses fell 21 percent to $200.4 million. Net production volumes increased by 19 percent. [ID:nWNBB9962]

"As a result of our strong second quarter and first half results, we have kept our production guidance unchanged, with slight year-over-year production growth in 2009," company Chief Executive James Dearlove said in a statement.

Russia starts building major Asian gas pipeline

MOSCOW9 (AFP) – Russia on Friday started construction of a major gas pipeline supplying its Pacific Ocean port city of Vladivostok, which could eventually be used to feed exports of gas to Japan.

The pipeline is due to be completed before Vladivostok hosts the summit of the Asia-Pacific Economic Cooperation (APEC) group in 2012, Gazprom said in a statement announcing the start of construction.

Prime Minister Vladimir Putin attended the inauguration ceremony in Russia's far eastern Khabarovsk region and pushed a button to start welding of a section of pipe, television pictures showed.

"The priority for gas in East Siberia and the Far East is above all to serve the domestic market," Putin said.

However, Russia's state-controlled gas giant Gazprom has said the pipeline could eventually be used to feed exports of gas to East Asian countries, including energy-hungry Japan.

Earlier this year, Gazprom head Alexei Miller said during a visit toTokyo that gas exports to Japan through Vladivostok would be possible once Russia's own needs were met.

Oil hovers near $67 as US, Asian stocks jump

SINGAPORE – Oil prices hovered near $67 a barrel Friday in Asia after investor optimism about the economy fueled rallies in crude and stocks.

Benchmark crude for September delivery was down 20 cents to $66.74 a barrel by late afternoon Singapore time in electronic trading on theNew York Mercantile Exchange. On Thursday, the contract rose $3.59, or 5.6 percent, to settle at $66.94.

Traders have gotten whiplash this week as prices jerked up and down on investor uncertainty about the strength of the global economic recovery.

"Sentiment is very fragile," said David Moore, commodity strategist atCommonwealth Bank of Australia in Sydney. "Going forward, we're going to be looking at a seesawing market."

Crude investors were cheered by a jump in U.S. stocks on Wednesday and Asian stocks on Thursday. The Dow Jones industrial average rose 0.9 percent.

Oil holds above $67 amid improving US economy

Oil prices held above $67 a barrel Friday, adding to gains made overnight, as world stock markets rallied on signs of improvement in the U.S. economy.

In Europe, benchmark crude for September delivery was up 11 cents to $67.27 a barrel in afternoon electronic trading on the New York Mercantile Exchange. On Thursday, the contract added $1.76 to settle at $67.16.

Evidence that the recession-hit U.S. economy is strengthening has bolstered investor optimism and triggered a rally from $58.78 a barrel two weeks ago. While crude demand hasn't rebounded yet, traders have begun to have more faith that consumption will eventually pick up.

"We haven't seen demand increase yet, but all the good news about the economy seems to be adding fuel to the fire," said Gerard Rigby, an energy analyst with Fuel First Consulting in Sydney. "Just the fact that things are improving is enough to change the sentiment of a lot of people."

Investors were cheered by a National Association of Realtors report Thursday that said sales of previously occupied homes rose for the third month in a row. The last time that happened was in the middle of the housing boom in early 2004.

Oil lingers near $65 as US crude supplies rise

SINGAPORE – Oil prices lingered near $65 a barrel Wednesday in Asia as rising U.S. crude inventories suggested consumer demand remains sluggish in the world's biggest economy.

Benchmark crude for September delivery was down 51 cents to $65.07 a barrel by afternoon Singapore time in electronic trading on the New York Mercantile Exchange. On Tuesday, the August contract expired, rising 74 cents to settle at $64.72.

U.S. crude inventories rose 3.1 million barrels last week while gasoline supplies gained 1.3 million, the American Petroleum Institute said late Tuesday. Analysts expected the API numbers to fall 2.0 million barrels, according to a survey by Platts, the energy information arm ofMcGraw-Hill Cos.

Investors will be watching for inventory data from the Energy Department's Energy Information Administration on Wednesday for more signs crude demand may be waning.